China has officially launched a national venture capital fund and three large regional funds, together worth billions of dollars, as part of a push to foster home-grown tech champions and improve investment efficiency.

**The National Startup Investment Guidance Fund**, as well as the three vehicles covering the Beijing-Tianjin-Hebei region, the Yangtze River Delta and the Greater Bay Area, began operating on Friday, according to Xinhua News Agency.

This initiative marks a significant step in China's strategy to boost its technology sector and support startups across key economic regions.

China has officially launched a national venture capital fund and three large regional funds, together worth billions of dollars, as part of a push to foster home-grown tech champions and improve investment efficiency.

China's Billion-Dollar Bet: State-Backed Venture Funds Launch to Fuel Tech Startup Boom

**Cassi Zheng felt completely drained in her late 20s.** As a brand director at a sports-drink startup in Shanghai, she was speaking to over 30 people daily, dealing with chronic pain, constant fatigue, and even panic attacks. In February 2023, at age 29, she made a bold decision: she quit her job without telling her parents, aiming to enter her 30s with a clearer sense of purpose.

![Cassi Zheng running down a street in Italy.](https://i.insider.com/692ea50504d0f0a114f1399e?width=700)
*Cassi Zheng felt burned out in her 20s, prompting her to quit her job and travel across Asia and Europe.*

Initially, the sudden freedom felt panic-inducing. "I was so used to running around, talking to people, and being needed," she recalls. But she quickly turned to physical activities—biking across Shanghai and kayaking—which left her exhausted yet energized.

## Embracing Friendships and Solo Exploration

Zheng spent her first year traveling across Asia with friends. Japan, where she had been practicing Reiki, felt like a natural first stop. Temples and traditional inns in Tokyo and Kyoto sparked something within her, making her want to return alone.

She kept moving: Bangkok's flea markets reminded her of her childhood in Guangzhou, and she rang in the New Year on Jeju Island with old friends. But it was her solo trips that truly transformed her.

![Zheng went on several solo trips to Japan during her break.](https://i.insider.com/692ea66d04d0f0a114f139ae)
*Zheng went on several solo trips to Japan during her break.*

On New Year's Day, she flew to Kyoto for her first true solo trip. Spending her 30th birthday alone in Tokyo, sick with the flu, she wandered the Nezu Museum's gardens. "The quiet design reminded me to notice what's present, instead of what's missing," she says. She returned to Japan twice more that year, meditating alone in the mountains.

A year and a half after quitting, she spent three weeks in Europe. In Sicily, she met a local man during a hike; despite language barriers, they connected, and she later visited his café. "Sicily felt open and passionate—a contrast to Shanghai's intensity," she notes.

![A year and a half after quitting, she spent three weeks in Europe.](https://i.insider.com/692ea84504d0f0a114f139c1)
*A year and a half after quitting, she spent three weeks in Europe.*

## Finding Emotional Freedom

By late last year, Zheng had started work on a new project but joined a five-day water-immersion course in Bali. The experience was intense—somatic dance in the ocean, learning to let the body speak. She began crying without knowing why and felt ashamed, but the teacher encouraged her not to hide. "With an East Asian upbringing, that was incredibly freeing," she shares. "I cried for two days, overwhelmed by release."

This gap year helped her loosen her reliance on external validation from bosses, parents, and goal-driven metrics. "I could count the trips or the solo days, but none of that defines me," she reflects.

![Zheng driving a boat in Lake Como, Italy.](https://i.insider.com/692ea7897ecd1d1da662bec1)
*Zheng driving a boat in Lake Como, Italy.*

## Launching a New Venture

On her 30th birthday, Zheng finally told her parents about her gap year and the aromatherapy brand she was starting with a friend. They were shocked but came around after seeing her business plan and prototypes. "Even now, when I visit them a few hours outside Shanghai, they enjoy talking about metrics and the future of my company," she says.

She and her friend launched **Aurawell** in May 2024, just over a year after she left her job. They first got the word out by leading a public meditation in an underground performance space.

"Taking a gap year was one of the wisest decisions I've made," Zheng concludes. "It gave me time to slow down, reflect on my choices, and discover what I actually enjoy, without pressure from the outside world."

Cassi Zheng spent her 30th birthday alone in Tokyo. It gave her a chance to stop focusing on what was missing.

From Burnout to Breakthrough: How a Solo Journey Across Asia and Europe Sparked a Thriving Aromatherapy Startup

## Why Micro-Franchising Works Better Than Starting a Business From Scratch

It’s a tale as old as time: the rich keep getting richer while the poor struggle to break free from financial hardship. For many, the cycle of poverty feels impossible to escape, with debts passing from one generation to the next. Traditional entrepreneurship can be a way out, but launching a business requires **capital, experience, and market trust** — resources that many struggling individuals simply don’t have.

One possible solution? **Micro-franchising and collaborative franchises** — business models designed to help individuals with limited resources become business owners. While traditional franchises often require hefty investments, micro-franchises provide a more accessible, cost-effective alternative, helping more people take control of their financial future.

## Why Franchises Are More Successful Than Independent Retail Shops

Franchises offer a major advantage over independently owned retail shops: they leverage an **established brand and business model**. In a world where consumers trust familiarity, this brand recognition makes it significantly easier to attract customers and drive sales.

Consider this: when given the choice between an unknown local store and a well-known brand, most people will opt for the brand they recognize. This is because a trusted brand comes with:

- A proven track record of service and quality.
- Standardized business processes that ensure reliability.
- Stronger marketing and advertising power.

For first-time entrepreneurs, starting from scratch can be incredibly challenging. Many independent businesses struggle to gain traction, as they lack the reputation, resources, and consumer trust that franchises provide from day one.

This is where **micro-franchising** comes in — offering the same benefits of a franchise, but at a much lower cost and on a smaller, more manageable scale.

## MSMEs Tapping into Micro-Franchising to Fight Poverty

Recognizing the potential of micro-franchising, governments and organizations worldwide are encouraging small and medium-sized enterprises (MSMEs) to adopt this model.

For example, in Nigeria, the government is urging MSMEs to expand their businesses through micro-franchising, providing low-income individuals with opportunities to become franchisees.

The idea is simple:

- Franchisors provide training to franchisees, equipping them with the necessary business knowledge and operational skills.
- Marketing materials and branding support are provided to ensure consistency across franchise locations.
- A proven business model helps franchisees avoid the common pitfalls of starting a business from scratch.

By following this approach, more people — especially those with limited resources — can enter the business world, improving their financial stability while also strengthening the local economy.

## Micro-Franchising Benefits

Aside from branding and operational support, micro-franchising offers several key advantages that make it an attractive option for aspiring entrepreneurs.

**1. Lower Startup Costs**

One of the biggest barriers to entrepreneurship is **access to capital**. Traditional franchises require huge investments, often reaching hundreds of thousands of dollars. Micro-franchises, however, operate on a much smaller scale, making them more affordable and accessible.

**2. Easier Access to Financial Assistance**

Many governments, non-profits, and microfinance institutions recognize the potential of micro-franchising and provide funding opportunities to support aspiring business owners. These include:

- Low-interest loans.
- Government grants.
- Private investment initiatives aimed at empowering low-income individuals.

This financial accessibility allows more people to pursue business ownership without taking on overwhelming debt.

**3. Reduced Business Risks**

Starting a new business from scratch is risky — about 20% of small businesses fail within their first year, and 50% don’t make it past five years. Micro-franchises, on the other hand, operate on **proven business models**, significantly reducing the chances of failure.

Instead of experimenting with untested strategies, franchisees follow a structured plan, benefiting from the experience, guidance, and resources of the franchisor.

**4. Brand Recognition and Customer Trust**

Strong branding is central to success in today’s market. A clear, consistent identity and message reduces the effort required to win customer trust and stand out. This is one of the biggest advantages of micro-franchising: franchisees don’t need to build a brand from scratch. Instead, they benefit from an **established reputation**, which can make it easier to attract customers and reach profitability more quickly.

**5. Job Creation and Economic Growth**

Micro-franchising doesn’t just help individual business owners — it strengthens local economies. These small-scale franchise models **create jobs**, keep money circulating within communities, and expand access to entrepreneurship in underserved areas.

For governments and organizations focused on economic development, investing in micro-franchising offers a practical, self-sustaining way to drive growth.

Alongside this model, **collaborative franchising** is gaining traction. Instead of a single owner, multiple partners share the cost, responsibilities, and rewards of running a franchise.

Each partner contributes based on their strengths — such as operations, marketing, or finance — making ownership more accessible and resilient, especially in developing economies.

Together, micro-franchising and collaborative franchising lower the barriers to business ownership. By combining proven business models with shared risk and support, they offer a scalable path to income, job creation, and long-term community impact. The future of entrepreneurship isn’t just about large corporations — it’s about practical models that empower more people to participate and succeed.

Micro-franchising helps people with limited resources become business owners by offering low-cost and proven franchise models.

Unlock Entrepreneurship: How Micro-Franchising Beats Starting From Scratch

The holiday season offers a perfect opportunity for founders and entrepreneurs to **unplug and dive into some quality reading**. With countless options available, it can be overwhelming to choose the right book. To help you out, we've compiled a list of top business books for 2025, based on recommendations from influential figures like Bill Gates, Steve Blank, and others.

## **Breakneck by Dan Wang**
Mercury co-founder and CEO Immad Akhund praises this book as "one of the better explanations of the gap between an engineering-driven society and a lawyer-driven one." It provides a **thought-provoking look** at why the U.S. struggles with innovation and how to fix it, grounded in real engineering insights. *The Times* of London hailed it as "easily one of the best books on China published this year."

## **Careless People by Sarah Wynn-Williams**
Steve Blank, known as the father of modern entrepreneurship, lists this memoir as a top pick for 2025. It details the author's career at Facebook, revealing stories of alleged misconduct and harassment that Meta tried to suppress. Despite legal challenges, the book continues to be sold, offering a **raw and unfiltered perspective** on corporate culture.

## **When Everyone Knows That Everyone Knows by Steven Pinker**
Bill Gates included this book on his must-read holiday list, calling it a **must-read for understanding human behavior**. Pinker explores how common knowledge shapes communication and social interactions, making complex topics accessible and practical.

## **Abundance by Ezra Klein and Derek Thompson**
Former President Barack Obama recommended this book in his 2025 reading list, describing it as "a must-read for progressives" seeking government reform. It challenges rigid beliefs and highlights how digital entrepreneurship has thrived by avoiding traditional constraints. Todd Sattersten, co-author of *The 100 Best Business Books of All Time*, noted it inspires readers to tackle **harder problems that need solving**.

Stay updated with insightful founder stories by signing up for 1 Smart Business Story from Inc. on Beehiiv.

Looking for a good holiday read? Consider these top business books of 2025, recommended by Bill Gates, Steve Blank, Adam Grant, and others.

Unlock Your Potential: The Must-Read Business Books of 2025 Recommended by Top Founders and Leaders

Five years ago, an abandoned trucking terminal south of I-20 was reborn as a business and community hub called **Pittsburgh Yards**. This 15-acre site has since helped spur the development of the **Southside Beltline** and brought new businesses and visitors to a historically neglected part of Atlanta.

![Views of the exterior of Pittsburgh Yards in Atlanta on Tuesday, Dec. 9, 2025. (Natrice Miller/AJC)](https://images.ajc.com/resizer/v2/XRGSKRPXWBBLNDNSMOVFNG7SCA.JPG?auth=0ba5be97699a01dd8d0b623ff22d045cad1b583097f7e54429ec5389e78be4a2&width=3840&height=2160&smart=true)

Now, Pittsburgh Yards looks to stay rooted in its mission to serve its community while embracing the future as a city gearing up for the **World Cup**.

## A Catalyst for Community Development

The site, which was originally a trucking terminal, became an abandoned agricultural building by the 1990s. It was built by the **Black Founders of Atlanta** in 1881, giving it a rich industrial history. In 2016, the **Annie E. Casey Foundation** purchased the site for $5 million, offering affordable access to a 16,000-square-foot building that breathes life into the hub by bringing **commercial working-class entrepreneurs** and small businesses.

Chantell Glenn, executive director of the Casey Foundation, said, "Our mission is to support generations through wealth-building, entrepreneurship creation, and association."

## Breaking Ground with Community Input

During the Casey Foundation's 12 years of planning, it took time to break ground with constant development. It was an example of how to do real estate planning with local meetings, ensuring the site was right for residents.

Stephanie Flowers, a 40-year community resident, said, "I just knew in my family that it was like a new leaf. Then, it was years."

But Flowers, who participated in the community-led planning, believes the process surprised everyone with its purposeful, principled planning. The **Nia Building** at Pittsburgh Yards helped give the community a main mission point.

![Views of the exterior of The Nia Building at Pittsburgh Yards in Atlanta on Tuesday, Dec. 9, 2025. (Natrice Miller/ AJC)](https://images.ajc.com/resizer/v2/5SBNIMPRTFD7DPHXYIV7GF7OGI.JPG?auth=f82f1159ca2163e024c5efa13eb67c7cd88d24591db2564d2a65e10300e24cda&width=3840&height=2560&smart=true)

Keiyonna Rollins, co-operator of Pittsburgh Yards, said, "It's a beautiful, authentic, classy-designed community space that also allows for an adaptable, entrepreneurial tenant."

Flowers Glenn said the Southside Beltline in December 2020 accelerated access, and the hub is next to complete the next opening point.

## 2025 and Beyond: Embracing Growth

This year, the hub has brought both good and bad business. Pittsburgh Yards has continued to grow a group of tenants, including businesses at a container shipping terminal related to the Beltline.

Lakeisha Jones, owner of **Pink Pothos**, said, "I decided to get a permanent show space. I think up to what I want, who I want to represent."

Michael Leahy, executive director of the **Volunteer Atlanta Foundation**, said, "It's free from its legal move to provide office services, support tenants, and direct communities close to downtown exclusive families."

After the **VLAF** approached Pittsburgh Yards, explaining down to conducting as an individual, he was approached by a slow social virus someone, not long noticed. He said, "That would be working, there, than what we were."

But at December, Pittsburgh Yards has been as a business by early deal economy but fell for 90% occupancy rate, with small slowing. Glenn said, "It's inspiration for better businesses as entrepreneurs and more small business owners providing support to taking them."

Flowers said, "Because entrepreneurs are still focused on finding their place out role, some still feel hope how included residents can become businesses added to Pittsburgh Yards."

As the **World Cup** heads to the city, especially descending development events, keeping front future like major mind, mission on original plans. Glenn said, "How to make it from getting supposed to be a destination but away? (Pittsburgh Yards)"

Ultimately, build back business care families could: for history goes land it took students originally to train their use. Glenn said, "I hope impact leaves land for entrepreneurship and a Black place purpose people remember return scaling."

— Contributed by staff writer Hannah Zachary

The small business hub is working to stay rooted in its mission to serve its community, while embracing events like the World Cup.

China's Billion-Dollar Bet: State-Backed Venture Funds Launch to Fuel Tech Startup Boom

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Other Latest News

From Burnout to Breakthrough: How a Solo Journey Across Asia and Europe Sparked a Thriving Aromatherapy Startup

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Unlock Your Potential: The Must-Read Business Books of 2025 Recommended by Top Founders and Leaders

How an Abandoned Terminal Became Atlanta's Thriving Small Business Hub

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Unlock Your Potential: The Must-Read Business Books of 2025 Recommended by Top Founders and Leaders

How an Abandoned Terminal Became Atlanta's Thriving Small Business Hub