In the cold basement of an office block in northwest Beijing, a group of would-be entrepreneurs huddle around a computer screen, poring over their latest prototype. A few miles away, in a well-heated and distinctly more luxurious underground lecture room, a group of 30 managers and entrepreneurs also debate ideas for new products and ventures.

Both groups are testament to the growing appetite for start-ups in China. Just as business schools in the US and Europe have reported a surge in student interest in running their own companies, business schools operating in China are also reporting a thirst for all things entrepreneurial.

“Start-ups are the new sexy thing,” says Yi Wang, co-founder and chief executive of Liu Li Shuo, which developed an English language app for Chinese smartphone users, the only education app selected by Apple in the 2013 App of the year award in China.