F/MS Top Startup Cities

5 min read

Qingdao, China #290

City Scores

City Total Score

1.028

Overall ranking score

Quality Score

0.28

Ecosystem quality rating

Quantity Score

0.02

Ecosystem size rating

Business Score

0.73

Business environment rating

Score Distribution

Score Comparison

MeanCEO Index Click to scroll to details

66

Startup Ecosystem in Qingdao 🌊

TL;DR

Qingdao ranks as the 290th city in the Global F/MS “Best Cities for Startups” Index. Known for its maritime economy and innovation in technology, Qingdao offers a budding environment for startups, especially in sectors like tourism, trade, and marine technology.

Startup-Friendly Stuff 📈

1. Ease of Company Registration

  • Business Registration: Procedures are straightforward, with online options available to expedite processes.
  • Startup Incentives: Local economic incentives support new businesses, particularly in tech and innovative sectors.

2. Employment Law 🏢

  • Labor Regulations: Strong protections for workers, though compliance can be complicated for nascent startups.
  • Hiring Foreign Talent: Obtaining work permits is essential, but the government encourages foreign expertise.

3. Taxation 💰

  • Corporate Tax Rate: Standard is around 25%, with potential reductions for qualifying tech startups.
  • VAT Regulations: Competitive VAT rates are offered, with incentives available for specific industries.

4. Quality of Life 🌆

  • Living Standards: High quality, boasting beautiful coastal views and recreational areas.
  • Culture and Leisure: A blend of historical charm and modern amenities, perfect for a balanced lifestyle.

5. Bureaucracy 🗂️

  • Ease of Navigation: Generally user-friendly system, though certain licenses can take time.
  • Government Support: Programs exist to assist startups, with a focus on technology and innovation.

6. Visas for Entrepreneurs 🌍

  • Startup Visas & Permits: Easier access to business visas for foreign entrepreneurs.
  • Residency Options: Various options for long-term stays tailored for investors and entrepreneurs.

Startup Community 🤝

7. Networking Events

  • Regularly organized meetups, discussions, and workshops tailored for startups.
  • Events that draw in local and international investors for funding opportunities.

8. Subsidies and Funding 💵

  • Government-backed financial support for innovative and tech-based startups.
  • Multiple incubator and accelerator programs offering grants and mentorship.

9. Venture Capital (VC) Presence

  • Investments: An increasing number of VCs looking for promising startups, especially in tech and marine industries.
  • Major Firms: A mix of local and international VCs focusing on diverse sectors.

10. Incubators & Accelerators 🚀

  • Varied support structures for startups, particularly in marine and tech-driven sectors.
  • Many programs providing co-working spaces, mentoring, and funding access.

Technology & Industry Priorities 🔧

  • Focus Areas: Marine technology, tourism, e-commerce, and new energy sources.
  • Government Initiatives: Active encouragement of startups in environmental sustainability and advanced manufacturing.

Business Culture 🏙️

  • Language: Mandarin is the principal language for business; English is becoming more prevalent in startups.
  • Work Environment: Dynamic yet collaborative, characterized by strong networking and support among entrepreneurs.

General Pros and Cons ⚖️

Pros:

  • A growing startup ecosystem backed by local government initiatives.
  • Attractive quality of life with reasonably priced housing.
  • Supportive community for foreign entrepreneurs and expats.

Cons:

  • Limited high-profile VC presence compared to bigger cities.
  • Infrastructure improvements continue to be needed to better support startups.

Initiatives for Female Entrepreneurs 👩‍💼

  • Increasing support available for women in business through mentorship and funding programs.
  • Networking platforms specifically catering to female founders and innovators.

Qingdao is an emerging hub for entrepreneurs looking for an affordable yet promising city to launch their startups! 🌊🚀

MeanCEO Index for Qingdao 🌊

Qingdao is emerging as a promising startup city in China, particularly for women entrepreneurs. Let’s assess how this coastal city stands in our MeanCEO Index score based on key factors influencing the entrepreneurial landscape.

1. Weather ☀️

  • Score: 6/10
    • With a temperate oceanic climate, Qingdao enjoys mild winters and ample sunny days. While not tropical, the weather is generally pleasant, enhancing outdoor networking opportunities during the warmer months.

2. Location 🏖️

  • Score: 9/10
    • Situated along the coast with easy beach access, Qingdao’s beautiful shores provide a calming atmosphere. The ability to enjoy water-related activities this close to a bustling economic environment is a significant plus.

3. Women Friendly 👩‍💼

  • Score: 7/10
    • The culture in Qingdao, reflective of broader Chinese society, is evolving towards greater respect for women. With increasing support systems and networking initiatives for female entrepreneurs, the environment is becoming increasingly favorable.

4. Foreigners Friendly 🌍

  • Score: 6/10
    • While the local culture remains somewhat traditional, Qingdao’s openness to foreigners, especially from diverse backgrounds, is growing. Initiatives that support expats help foster connections, although challenges in integration still exist.

5. English as a Business Language 📚

  • Score: 5/10
    • While English is becoming more common in the startup scene, especially among younger professionals, it is not yet widely used in everyday business scenarios. This could present challenges for non-Mandarin speakers.

6. Delicious Cuisine 🍷

  • Score: 8/10
    • Known for its seafood and local brews, Qingdao’s cuisine is both healthy and flavorful. The lack of extensive use of onions makes it more enjoyable for many, and the region’s beer culture is a notable plus.

7. Ease of Getting Married and Starting a Family 💍

  • Score: 5/10
    • The dating culture still leans towards traditional norms. While many local men are attractive and provide support in families, the pressures of work-life balance can complicate personal relationships and family planning.

8. Medicine 🏥

  • Score: 7/10
    • Healthcare in Qingdao is accessible, with a range of services available. However, while appointments can usually be obtained without excessive delay, specialized services might require more time and resources.

9. Ease of Transportation & Traveling 🚍

  • Score: 7/10
    • Public transportation is efficient, and taxi services (including app-based options) are widely available. However, the city’s infrastructure is still evolving, which may lead to some challenges in commuting.

10. Startup Mindset 💡

  • Score: 6/10
    • Qingdao’s entrepreneurial culture is growing, yet it lacks the high-profile risk-taking mentality seen in larger cities. However, there is an increasing acceptance of learning from failure, vital for nurturing startups.

MeanCEO Index Score: 66/100 🎉

Qingdao demonstrates a wholesome approach to supporting female entrepreneurs with a growing startup ecosystem and a friendly coastal backdrop! While still developing in certain aspects, especially regarding foreign inclusivity and English proficiency, the city offers exciting opportunities. With its charming lifestyle and nurturing community, Qingdao is a promising option for women ready to embark on their entrepreneurial journey!

Happy entrepreneurship! 🚀