Hupan University set up exclusively for entrepreneurs held its honors day celebration yesterday with 48 new students selected from more than 2,600 entrepreneur candidates.
The enrollment rate is less than 2 percent, about half of last year's 4.07 percent.
The university, founded three years ago by Alibaba Chairman Ma Yun and business tycoons and experts in China including Liu Chuanzhi, Feng Lun, Guo Guangchang, Shi Yuzhu, Shen Guojun, Qian Yingyi and Cai Hongbing, aims to cultivate a new generation of private entrepreneurs.
This year, more than 2,600 people submitted applications for the university and 102 innovative entrepreneurs were selected for the interview. The age of applicants ranges from 25 to 49 years old and the average age is 37.3 years old.
A qualified applicant should have run a company for more than three years with the annual operation revenue higher than 30 million yuan (US$ 4.32 million) and more than 30 employees.
The university has enrolled a total 119 students in the last three years.