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these entities able to partner with incubators and accelerators to identify Foreign students who have the willingness to innovate and start
potential applicants for nomination. Entrepreneurs who are successful a business in Shanghai and graduated from a higher education
in establishing their business venture in Australia will become eligible to institution in China;
apply for permanent residence.
Foreigners planning to invest in Shanghai or innovate in business; and
Business Startup Visa in Shanghai Excellent overseas graduates from top Chinese universities or world-
renowned universities who have graduated for no more than two
In May 2018, the Shanghai Public Security Bureau updated the policies years but have made outstanding achievements in innovation and
for a new "Private Residence Permit (entrepreneurship)", commonly entrepreneurship in Shanghai.
referred to as the "Business Startup Visa" which offers foreigners
a chance to establish a new and innovative startup business within Notably, under the "Business Startup Visa", an applicant will be
Shanghai. This visa is valid for one year, but can be extended for a required to submit an entrepreneurship or investment related
further one year if the foreign entrepreneur is able to demonstrate the certificate from certain economic development zones, high-tech
successful incorporation of a company during this time. Alternatively, this parks, or corporate incubator spaces designated by the government.
visa can be transferred to a work permit once the company is set up. The
following people are eligible to apply for the "Business Startup Visa":

China Announces New Measures to Support Mass Entrepreneurship and Innovation

China will take various measures to push Mass Entrepreneurship and
innovation, according to a decision made at a State Council executive
meeting chaired by Premier Li Keqiang on June 15, 2019. The
costs for Mass Entrepreneurship and Innovation should be lowered
via more streamlined administration while implementation of tax
incentives for research and development are accelerated, according
to the meeting, and the details of measures are as following:
• Foster the entrepreneurship as an effective way to enhance
employment, especially for the graduates and veterans.
• Increase support for building entrepreneurship and innovation
platforms,
• Promote the industrial Internet and accelerate the application of • Accelerate the implementation of the 75% pre-tax deduction of
Internet in such areas as medicare, elderly care and education. research and development expenses.
• Support demonstration bases to conduct trials in terms of • Urge financial institutions to reduce financing rates and costs for
scientific research projects implementation, results confirmation small and micro firms, and encourage venture capital investment
and transformation. in entrepreneurship and innovation.

Saudi Arabia: Monsha'at Opens SMEs Support Center

The Monsha'at support center for small and medium enterprises (SMEs)
provides a package of three programs (training, advisory and mentorship) in
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cooperation with the public/private sectors to support entrepreneurs, startups
and SMEs to face daily challenges to their growth and currently it served more
than 1,000 SMEs and entrepreneurs.
The center is a well-designed offline platform that provides offices to meet
in. The customer journey starts with meeting a business support consultant
located within the center who identifies customer needs and assigns them to
the most suitable program provided by scheduling a session in one or more
of the three programs. While the mentorship program includes a team of
experienced professionals who work part-time to provide practical advice and
guidance to beneficiaries during a face-to-face session, the training program offers a number of courses as part of the comprehensive
qualification program for capacity building of entrepreneurs and existing SMEs. Although Monsha'at support center is still in its very
early stages, it is giving Saudi professional the chance to enhance their leadership skills and provide support to the SME community, and
it is expected that the number of enlisted experts and support seekers will increase due to the boom of entrepreneurship in KSA while
meeting the Monsha'at objective of building a competitive economic system that ensures the sustainability and prosperity of SMEs.
As a result, the support center is expected to significantly contribute to the birth of startups and to escalate businesses' growth
through strategic approaches and well-executed plans to ensure sustainability. While there are many other initiatives to increase SMEs
contribution to GDP by 35 percent in aligning with Vision 2030, Monsha'at plays a different role through meeting the strategic and
technical requirements for a business to start and grow.