BEIJING - Over the past two years, more and more people have been seen riding yellow bikes on Chinese streets. These bikes are provided by the three-year old bike-sharing company ofo, which raised over $700 million in funding in July.
Dai Wei, the company's founder and CEO, established ofo with four other Peking University students, who were all born after 1990. Youth is on their side.
China is producing more young entrepreneurs than ever before. The number of students starting businesses right after graduation rose from 1.6 percent in 2011 to 3 percent in 2017, according to a report by MyCOS Research and the Chinese Academy of Social Sciences. This means that more than 200,000 out of 7.95 million college graduates in 2017 became entrepreneurs.
The China College Students' Internet Plus Innovation and Entrepreneurship Competition has been held for three consecutive years and its popularity is growing fast. More than 1.5 million students from 2,241 universities and colleges took part in 2017.
