China looks to young entrepreneurs to drive its innovation economy
Creativity and innovation to become drivers of growth as China looks to young entrepreneurs to steer it away from an investment-led model
About a dozen people sit around a large table, listening intently as engineer Ryan Liang explains the science behind his latest creation, a virtual reality headset. He passes it around, and anticipation builds as the face of each person who tries it lightens up. "Wow. It's very … real," says one.
The group, intrigued by the device, overwhelms Liang with questions on its uses, technical specifications, and whether one day they'll be interacting with each other in the virtual world.
The meeting is hosted by Chaihuo, a "maker space" in a hip design district in Shenzhen where members build robots, hone programming skills, and dream up do-it-yourself technology projects.
Liang, 40, has worked for big companies including ZTE and Philips, but quit his office job to pursue his creative passions.
He met a group of like-minded people at Chaihuo, which has helped turn many bright ideas into real-world successes.
As economic growth slows and the property sector cools, the mainland is relying on more people like Liang, especially younger ones, to be creative and brave enough to turn their ideas into profitable businesses. The government hopes these eager young entrepreneurs will help transform the economy into one centred on innovation.