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The city's 'entrepreneurial ecology' improves slightly in 2017

    Shanghai Jiao Tong University, Shanghai Small and Medium-sized Enterprise Service Center, and Shanghai University co-hosted the Experts Forum of the Construction of the Business Environment for Start-ups in Shanghai on Tuesday.

    At the forum, the Shanghai entrepreneurial ecological index of 2017 was released. According to the report, the average age for entrepreneurs to start their business is 34, and 80 percent of them have bachelor's degree and have five to eight years of working experience. More than 60 percent of the entrepreneurial initial capital comes from personal savings, and more than 90 percent of the entrepreneurs choose to start their business in the service sector.

    The 2017 entrepreneurial index kept measuring the business environment in Shanghai in the entrepreneurial culture, policies, environment, entrepreneurial project quality, entrepreneurial projects' growth potential, and the entrepreneurial ecology, said Sang Dawei, the topic manager of Research Institute of Urban Governance of Shanghai Jiao Tong University.

    The entrepreneurial ecological index of 2017 scored 73, one point higher than the previous year.

    Also, the index shows that Shanghai has rather highly standardized service for entrepreneurs, and the social acceptance of entrepreneurships is quite high. A good entrepreneurial environment needs to be diversified and also has representative entrepreneurial projects, added Sang.

    The two main reasons for starting one's own business are increasing income to improve life quality, and challenging oneself to achieve one's dreams.