The State Council issued an opinion to promote education in innovation and entrepreneurship at universities and colleges on May 13. The opinion will enhance awareness of local governments and universities concerning innovation and mass entrepreneurship and garner greater public participation in these key areas for the economy.

In order to create an innovation-oriented environment, the State Council set target dates to cultivate a large body of innovative expertise by promoting connections between higher education and technology as well as the economy and society.

According to the State Council, the reform in higher education on innovation and entrepreneurship, which started in 2015, will witness major progress by 2017 when the concept will be deeply rooted and will result in the successful launch of startups by college students.

On top of this, in accordance with the policy, a new innovation-and-entrepreneurship-oriented education system will be established in 2020, highlighting the integration of classroom training, self-directed learning, practice, and guidance.

To create a new talent-cultivating mechanism, efforts will be made to boost coordination among colleges, enterprises, governments, institutions, and international partners, attracting high-quality domestic and international resources to cultivate more innovative talent, expertise and entrepreneurs.

In line with the policy, universities and colleges will establish curriculums which promote innovation and entrepreneurship.

Platforms to nurture talent and expertise are also an important part in creating an environment favorable to innovation and entrepreneurship. Consequently, local governments and universities should take advantage of various resources to build university science and technology zones, student pioneer parks, startup incubators, entrepreneurship demonstration centers, and vocational school training bases, which can provide students with an environment that fosters creativity.

Local governments and departments should integrate governmental and private finance to fund college students’ innovation and startup activities. Universities and colleges should also optimize budgets and create multi-channels to support innovation and startup programs.

In addition, according to the policy, venture funds from social and public organizations, enterprises, public institutions, and individuals are welcomed to support students in setting up their own businesses.