Xiaomi-backed community living offers home from home for China’s would-be entrepreneurs

One of the top challenges facing young people in China, especially those who want to start their own businesses, is the cost of finding a place to live, especially in big cities.

That’s where Liu Yang can help. The co-founder of YOU+ International Youth Community, Liu, 40, offers trendy and cosy community-style apartments for rent online to young people.

The three-year-old company converts buildings like old factories into small loft rooms with open public spaces, specifically aimed at young start-up businessmen. Last year it attracted an investment of 100 million yuan (US$16 million) from Lei Jun, the chief executive of Xiaomi, China’s largest smartphone brand, and related investors. 

“They are like the younger version of me, full of dreams with little money in their pockets. Our goal is to provide them a roof like a home and a useful network for their future,” Liu told the South China Morning Post in an interview. He drew inspiration from his own struggles to set up a business in the southern city of Guangzhou, far from his home in northeastern Jilin.

In the beginning of May, YOU+ will open two new communities in the Haidian district of Beijing, the location of two of China’s top universities and of the Zhongguancun technology hub, which was the original home of many of China’s top companies, including Lenovo.

The bigger development will have more than 400 apartments in the Suzhouqiao area, and the 200 rooms in the Shangdi area.