Lack Of Funds, Find A Group Organization!

The Henan provincial Party committee provides all-round financial support for youth entrepreneurship. "Thanks to the Henan Youth Venture Fund, it provides a powerful impetus for my entrepreneurship."

The super high brightness special light source project developed by Zou Xinfa, 42, is the first project supported by Henan Youth Venture Capital Fund.

The youth venture fund invested 7 million, becoming the second largest shareholder in Zou Xinfa venture company after Zou Xinfa himself.

The financial support provided by young people for youth entrepreneurship has brought a lot of success to the Henan provincial Party committee, and prompted them to go further.

Lack of funds is undoubtedly one of the biggest headache for young entrepreneurs.

At present, the Henan provincial Party committee and two investment companies jointly set up two youth venture funds with a total amount of RMB 10 million yuan, and two banks have launched a credit capital plan to support young entrepreneurs' starting businesses. Each year they have arranged a total of no less than RMB 500 million yuan credit funds.

In addition, the Henan provincial Party committee also joined the Henan SME credit guarantee service center to provide financing guarantee services for projects and enterprises supported by Henan Youth Venture Capital Fund.

The support of 1000 million venture fund is "what support do young entrepreneurs need, so we can find ways to provide them."

Hou Hong, director of youth entrepreneurship in Henan provincial Party committee, said: "at the beginning, we focused on the cultivation of entrepreneurship for young people, and then began to extend to the practical level.

The Youth Venture Fund arises at the historic moment.

Henan high tech venture capital Limited by Share Ltd is the first high-tech venture capital company in Henan province established by the Henan Provincial People's government.

The company was co sponsored by 5 powerful companies such as Henan Refco Group Ltd, and the registered capital is 161 million yuan. It is one of the largest investment companies in Henan province.

Henan venture capital Limited by Share Ltd is also a joint-stock venture capital company established by the Henan Provincial People's government.

The company was co sponsored by 7 powerful companies with a registered capital of 100 million yuan and is also one of the largest investment companies in Henan.

One side is Vc firm, hoping to find excellent projects for investment, the other is to serve and guide youth league organizations, hoping to help young entrepreneurs solve their financial problems.

In December of 2003, the Henan hi tech venture investment Limited by Share Ltd and Henan venture capital Limited by Share Ltd respectively agreed to invest 5 million yuan, jointly with the Henan provincial Party committee to set up the Henan Youth Venture Fund.

According to the management measures of the Henan Youth Venture Fund, the fund carries out market-oriented management and operation according to the principle of "subsidized support, risk sharing, equity sharing and rolling development". The funding targets are youth venture projects in Henan Province, which are funded by the liquidity needed in the operation of these projects.

Other units can also participate in the launching and investment of the fund, with a minimum investment of 100 thousand yuan.

The fund can also accept donations from all walks of life.

The investment company operates according to the operation process of the company, and the Henan Provincial Committee of the regiment conducts business guidance and supervision over fund management.

All of the young and overseas youth project units in Henan Province, with independent legal personality, can apply for the support of the fund. However, the young people at home and abroad who apply for the youth venture fund should be under the age of 45.

According to introduction, Henan high tech venture investment Limited by Share Ltd mainly invest in high-tech agriculture, biomedicine, food and related products. Henan venture capital Limited by Share Ltd mainly invest in biotechnology, electronics, information, new materials, new energy and other fields closely related to Henan's economic development.

"Application for youth venture capital fund should fill in the application form provided by our fund management office, submit the business plan and related certificates to be applied for.

Shi Yunfu, general manager of Henan venture capital Limited by Share Ltd, said: "then, we will conduct a preliminary trial on this to see whether it meets the requirements of Youth Venture Capital Investment and our company's investment requirements.

Then the project will be eligible for the project, formal review and expert questions.

Finally, the final decision of investment is made by the company's decision-making body.

Shi Yunfu, general manager of Henan venture capital Limited by Share Ltd and Yang Jun, director of the Limited by Share Ltd Office of Henan high tech venture investment, told reporters that the establishment of the youth venture capital fund jointly established by the provincial Party committee and the two companies has received applications for 8 projects so far.

At present, a project has received RMB 7 million yuan investment support, and another project has passed the final assessment, and will receive RMB 5 million yuan investment support in the near future.

The rest of the applications are currently under intense review.

In addition, a total of 10 million yuan Youth Venture Fund will also produce 20% from the annual interest rate of the fund to reward outstanding young entrepreneurs.

In December 2003, the Henan provincial Party committee also joined the Shanghai Pudong Development Bank, the Guangdong Development Bank and the Henan SME credit guarantee service center to provide credit loan and guarantee support for young entrepreneurs in the 1 billion year's credit fund support.

Shanghai branch of Pudong Development Bank, Zhengzhou, puts forward "not only ingredients, no matter how big the slogan is," it has launched a special financial service brand tailored for young talents Entrepreneurs: "entrepreneurship in the Central Plains".

To this end, the bank will arrange a total of not less than 500 million yuan credit fund support each year, aiming at the characteristics of young entrepreneurs' needs, and provide them with suitable financial services such as comprehensive credit, settlement, financing and intermediary business.

In addition, the bank also selected professional professionals with high quality and professional competence to set up marketing service institutions specialized in serving young entrepreneurial talents, and opened a green channel for services and credit approval, streamlined credit processes, promised time limited services, gave priority to the approval of loans for starting businesses in Central Plains, and gave priority to the examination and approval of young talents entrepreneurship projects, which could provide loans with strong second repayment sources as collateral, and implement the low risk credit business of venture projects, namely, the implementation of flexible loan interest rate policy.

Guangdong branch of the Zhengzhou branch of the Development Bank of China has also provided similar credit support to young entrepreneurs, and the size of the capital plan is RMB 500 million yuan.

Henan small and medium enterprises credit guarantee service center is a specialized agency established to solve the problem of small and medium enterprises' loan difficulty and guarantee.

The Henan Provincial Committee of the Communist Party of China has also obtained the support of the center and signed a cooperation agreement with it.

The service center is committed to providing services for hi-tech projects and high-tech enterprises supported by Henan Youth Venture Fund, providing financing, guarantee, production (share) trading, auction, pawn business, and related intermediary services such as finance, law and information consultation.

"The youth entrepreneurship project library is being prepared," Hou Hung said. "Integrating the entrepreneurial talent resources and expert resources of the Youth League and the Youth Science Association, the green Merchants Association and the township business association, the plan to set up a youth entrepreneurship expert steering group in Henan is also in progress.

In August, we are also preparing to launch the first Youth Entrepreneurship Forum to promote the multiple docking of talents, capital, information, technology, business management and projects for young entrepreneurs.