Tan Chang, a PhD student studying at the University of Science and Technology of China, always dreams of starting a company and improving lives with his knowledge of big data technology.
With the support of the university, his supervisors, and the IAT - a research institute and high-tech park founded by the USTC, his dreams became reality.
"Traditionally, scholars at Chinese universities focus too much on academic research but care little about transferring their studies into commercial use," said Li Weiping, vice-president of the Institute of Advanced Technology -or IAT.
Li said, even in USTC, several years ago a very small number of research projects were used by companies and very few researchers started their own businesses.
"University researchers need highly efficient institutions to help them transfer viable technologies into commercial use, " said Li.
The IAT, which was established in 2012, is now making fundamental changes.
Tan founded the Anhui Rong Data Information Technology Co Ltd in the IAT in April 2013.
The company's core team includes Tan and several of his schoolmates.
Rong Data's very first deal was made with a train service company, whose main business is train maintenance.
"Big data technology helps the company accurately locate which parts should receive maintenance, leading to substantial cost reduction," Tan explained.
Before starting the company, Tan's team offered big data solutions to Alibaba, the largest e-commerce portal in China as well as other companies.
It is early days for Rong Data but Tan feels confident about its development in the future.
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He said the confidence comes from the support of various channels - the university, the IAT, his supervisors and the local government.
Tan added that he is lucky because he can get inspiration from entrepreneurs in the IAT, including Liu Qingfeng, founder of Anhui USTC iFLYTECH Co Ltd, which is the most prominent speech technology provider in China.
"His story tells us that young researchers should never be confined to the labs, instead, they should dare to bring academic findings into practical applications.
"Technology will play a more important role in people's life. The big data technology is a milestone innovation in the information era, which is expected to redefine modern businesses," said the young entrepreneur.
Tan said professional services available from venture capital companies were also crucial for high-tech start-ups.
The IAT has two venture capital companies, which offer financial services and useful consultations on business operations, according to Tan.
Tan admitted that when he tried to apply for funding, he was told that his firm may fail to meet the requirements as he still has to optimize his team.
"There's no problem with the company's R&D strength, they just need a more efficient core team", said Shao Kedi, general manager of Anhui PrimeCo Financial Services Ltd.
Tan said he has also received guidance from both the IAT and the Hefei high-tech zone on how to start and run a company.
The guidance, in the form of free courses given by professionals hired by the government, covers a wide range of topics, including how to make use of the zone's preferential tax policies and how to improve operations by adopting share incentive plans.
China Daily
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The green grounds of the IAT are already home to 34 tech firms and 23 labs, although it is still being built. |
