Entrepreneurs choosing to start up business in Yuhang district no longer need to worry about failures as the district launched new policies to insure entrepreneurs at the opening ceremony of the International Talent Month on Nov 10. [Photo/chinanews.com]

Entrepreneurs choosing to start businesses in Yuhang district can breathe a sigh of relief, as the district launched new policies to insure entrepreneurs at the opening ceremony of the International Talent Month on Nov 10.

The event was part of the ongoing Hangzhou International Human Resources Exchanges and Cooperation Conference, which started on Nov 9 and will run until Nov 24. 

According to the new policies, entrepreneurs can receive as much as 10 million yuan ($1.43 million) if their research or insured entrepreneurship projects fail.

In recent years, Yuhang district has emphasized the importance of attracting and supporting skilled workers and professionals.

It has rolled out 66 friendly policies to encourage entrepreneurship and innovation and started a 10 billion yuan fund to award and support startup projects.

As of now, the district has introduced more than 4,800 overseas high-level talents.