Young entrepreneurs are inspired to succeed

Entrepreneur Sun Lingjun knows all about Summer Davos as it changed his life.

The 35-year-old owner of Dalian Cheeringtech Co Ltd was handed 500,000 yuan ($73,083) in funding to set up his company, which manufacturers smart camera remote controls under the MicroNovelty brand.

It was his business idea and during the 2015 Summer Davos, Premier Li Keqiang witnessed him receiving the funding at the Dalian High-tech Zone for young "makers".

"Summer Davos has been influencing our city in many aspects," Sun said. "This year, I will attend the meeting with six other winners of a competition among local citizens. It has helped change my life."

Cheeringtech is a privately owned company and its overseas sales volume of smart camera remote controls has topped $400,000, although Sun declined to disclose detailed financial figures.

"Surely, I'm honored to have the chance to learn from successful entrepreneurs when I attend Summer Davos this year," he said.

Since 2007, the annual summer event has been held in Dalian and Tianjjn alternately.

On Tuesday, it will open in Dalian. More than 2,000 political and business leaders, as well as scholars and artists will attend the three-day gathering.

"The event has inspired the city's passion for innovation and entrepreneurship," said Dai Jingtao, general manager of Venture Workshop, an angel investment institution and incubator for startups.

"It was difficult to find a college student who wanted to start his or her own business," Dai added. "But now, every day there are several people coming in to show us their new concepts and business plans."

Launched in 2012, Venture Workshop has invested more than 86 million yuan into 63 startups, including Sun's Cheeringtech, since then.

"China's northeastern industrial base now has the spirit of innovation," Dai said.

During the past two years, the number of maker spaces at Dalian High-tech Zone, areas where budding entrepreneurs can incubate startups, has grown from 23 to 34,

"More than 630 companies were set up there and they attracted 270 million yuan in investment," said Sun Tong, assistant director of Dalian Hi-Tech Business Incubator. "Nearly 2,000 projects are currently under incubation."

The local government has rolled out favorable policies to encourage entrepreneurship and innovation in sectors like advanced science and technology, life sciences and data analysis.