Young entrepreneurs have been a boon to the development of high-tech industries in Tongzhou district in Nantong, East China's Jiangsu province, as evidenced by how 81 companies established by young entrepreneurs were recently designated high-tech enterprises.

Furthermore, six companies established by young entrepreneurs were listed as "little giant" enterprises.

High-tech and "little giant" enterprises are considered key drivers of the high-tech industry as they boast a high degree of technological innovation.

Among these entrepreneurs is Yuan Hongliang, who had in 2021 established his company AlphaESS, an energy storage solution and service provider.

Yuan said that it was the dynamic culture of innovation and entrepreneurship in Tongzhou that convinced him to set up his business in the district.

To date, the business division of the company, which has been designated a national "little giant" company, has invested 150 million yuan ($23.33 million) in domestic research and development, and developed more than 30 new products.

Another young entrepreneur is Huo Liang, who established his company Jiangsu Shenlan Space Co Ltd, in the Nantong National High-tech Industrial Development Zone.

Huo said that his company, which specializes in developing reusable carrier rockets, has been listed as a national talent project by the district.

Tongzhou has since 2016 introduced 928 high-end talents and developed 116 provincial-level high-end talents, with 75 percent of them being under the age of 45, according to local authorities.

Jiangsu Shenlan Space Co Ltd. [Photo/Nantong Daily]