According to the recently released "China Start-up Incubation Development Report," Beijing had provided services to 41,034 start-ups by the end of 2016, accounting for 20.13 percent of the national total and ranking first in the country.
The report, jointly released by the Torch High Technology Industry Development Center of the Ministry of Science and Technology and the Capital Institute of Science and Technology Development Strategy, shows that China had 4,292 makerspaces (community centers with tools for creative people) by the end of 2016, serving a total of 203,900 start-ups. They have formed a complete chain of start-up incubation services together with 3,255 high-tech incubators and more than 400 start-up accelerators.
The report says Beijing is a national leader in start-up and innovation services, talent employment and incubation performance.
In 2016, makerspaces across the country helped start-up teams and enterprises secure 53.95 billion yuan (US$8.54 billion) in funding, of which 17.13 billion yuan was raised by Beijing-based makerspaces, accounting for 31.76 percent.
That year, Beijing had 5,316 incubated enterprises, up 32 percent from 2015. Those incubated enterprises raised 7.02 billion of venture capital, up 47.79 percent from the previous year.
Excellent financing ability and innovation-driven competitive edges have made Beijing very attractive to talent, according to the report.
The report also found that, in 2016, Beijing-based incubated enterprises employed 90,451 people, up 43.73 percent from 2015. Among them, 2,138 employees had studied abroad, accounting for 2.36 percent; 90 were professionals under the national "Thousand Talents Program," making up 0.1 percent.