I think this is scary for Europeans and North Americans. We've had a free ride in the startup space, a real dearth of competition from China, even though China has exceptionally skilled people (most heavily talented in technology, although the marketing talent is obviously getting better with the home grown successes like Xiaomi.)
The one saving grace is that this is government run, which means it will likely be less efficient than privately run VCs. I've seen government run startup "accelerators" in action and it is usually pretty messy.
The one saving grace is that this is government run, which means it will likely be less efficient than privately run VCs. I've seen government run startup "accelerators" in action and it is usually pretty messy.