Chinese online entertainment provider Shanda (SNDA) says it has decided to spend about CNY8 million in a first round of encouraging its employees' innovative undertakings to better meet market competition.

At a management level meeting held early this month, Chen Tianqiao, CEO of Shanda, said any Shanda employees who wanted to take an innovative undertaking or start a business of their own should have their ideas known by Shanda and Shanda would offer full support to them.

According to local media reports, Shanda's plan will offer investment necessary for employees' innovative work. Tang Jun, president of Shanda, disclosed that the first round of about CNY8 million investment would be offered between June and September 2008 and later Shanda would review the employee's projects to determine whether it is necessary to provide any further investment.