PhotoHANGZHOU, China — In Dream Town, a collection of boxy office buildings on the gritty edge of this historic city, one tiny company is developing a portable 3-D printer. Anywhere else, an incubator like Dream Town would be a vision of venture capitalists, angel investors or technology stalwarts. Which is why the government of Hangzhou — a former royal capital that has been a major commercial hub for more than a millennium — built Dream Town and lavishes resources on start-ups. “I think the subsidies shouldn’t be a long-term policy,” Jin Xiangrong, an economist at Zhejiang University in Hangzhou, said of the start-up support programs. The Children of AlibabaAt Dream Town, Mr. Li, 39, frets more about his own business.

Source: New York Times September 03, 2016 09:00 UTC