How can entrepreneurship and innovation be developed in China's urban communities?
如何推动社区的创新创业发展？

This case is derived from Shunde District of Foshan City in Guangdong Province. Promoted by Shunde District Party Committee, Shunde District Government, and entrepreneurs in the district, Shunde District Entrepreneurship and Innovation Foundation was established and registered with Foshan Bureau of Civil Affairs in January 2017. The mission of the foundation is to empower youth, drive innovations, and promote entrepreneurship. Therefore, the foundation dedicates itself to four tasks: 1) supporting and funding youth entrepreneurial projects that promote social innovation, 2) promoting communication and collaboration among various industries, 3) creating new modes of support for entrepreneurial projects, and 4) cultivating an entrepreneurial environment that is conducive to social sustainability.
2017年1月，在顺德区委、区政府及顺德企业家的推动下，顺德区创新创业公益基金会于区民政部门注册成立。基金会定位于资助型、支持性的机构，以“扶植青年，激励创新，推动创业，弘扬企业家精神”为使命，致力于支持、资助、推广促进社会创新的青年创业项目，推动业界交流与合作，创新创业扶持模式，营造有利于社会可持续发展的创业氛围。

The foundation targets upstream issues of youth entrepreneurship and innovation projects. Consequently, it provides seed funding for young entrepreneurs, encouraging them to experiment with innovative ideas and establish new business models. There are at least 30 successful applicants for the seed funding annually, each receiving the fund up to 700,000 RMB per year. Although the seed funding is open for all types of startup projects in every conceivable industry, preference is given to those that are aligned with Shunde District’s pillar industries and have the potential of promoting the district’s sustainable development. Moreover, the foundation attempts to cultivate a sustainable entrepreneurial culture by attracting and channeling venture capital into youth entrepreneurial projects that are oriented toward social innovations.
基金会定位于支持青年创新创业发展中的前端问题，引领企业向善，推动美好顺德建设。基金会希望通过为青年创业者无偿提供种子资助的方式，鼓励青年人勇于测试新的想法，搭建新的商业模式，从而弥补市场不能解决、不愿投入的空白地带。种子资助计划定期开放申请，集中组织评选。预计每年将有不少于30个申请可获批资助，每一个获批资助的申请，可获得上限为70万元/年的种子基金。基金会资助所有类型、领域的初创项目，但将更偏向能结合顺德区产业发展优势，关注科技发展、智慧城市、能源效率、社区发展、文化创意、健康与福祉的申请。为探索金融投资与公益慈善的有机组合，倡导青年一代“立业为善”，基金会拟通过主动投资于既能创造社会、环境效益，又能以有效的商业模式为基金会投资带来循环资金的社会目的型企业，充分发挥资助杠杆价值，引导更多风险资本进入社会投资领域。

Noteworthy in this case are the three factors contributing to the foundation’s success. The first is that the foundation has built a professional team and leveraged multiple social forces and resources, which in turn has secured all-round support for youth entrepreneurial projects. The second factor is that the foundation has established a management system encompassing project management, financial management, investment management, and information transparency. This system has paved the way for the foundation’s effective operation. The third factor is that the foundation gives priority to those youth entrepreneurial projects that can both increase the competitiveness of the district’s existing pillar industries and promote the district’s long-term social sustainability.
顺德区公益基金会成功的关键有以下几点：第一，成立专业团队，并充分引入不同的社会力量和资源，给予创业项目全方面的支持。第二，建立基金会制度体系，包括项目管理、财务管理、投资管理及信息公开制度。对项目的立项、实施、监督和验收，对基金会投资管理、财务付款与报销管理、合同管理等进行了详细规定，保障资金的合理利用和项目的有效运作。第三，对项目进行分类分阶段管理，并通过项目选择，鼓励创业者结合顺德区产业发展优势，关注社区发展和城市建设，并鼓励创业者关注社会、环境效益，有利于通过资本促进社会和经济共同发展。