The much talked about Chinese economic miracle is slowly but surely coming down to meet the eventualities of the free market economic world. The Chinese economic model was bound to experience a slowdown. That is why the communist government is now coming to terms with the entrepreneurship-triggered economic dynamics. In Hangzhaou, an eastern city in China, there lies an internet village and startup hub, which is being supported by the government. In a latest report, the New York Times has brought this unimaginably creative and innovative space in the limelight for the first time.
Image: TheNewYork Times
There are above 710 startups being incubated in this startup center. From online massage booking app development to 3D printers, the startups here are tapping in almost every possible domain they can think of.
Chemayi is a noteworthy company which is working in the Dream Town. Chemayi takes online orders for car repairs and related services. The company is working in the startup space for free, and has just applied for around $400,000 in loan from the government to kick start its business model and pay salaries. The company won …read more
Read more here:: The Dream Town: Inside China’s Rising Startup Boom