Ten student entrepreneurs make 380,000 yuan ($57,763.28) a year and employ 60 other students in their coffee shop at the Harbin Institute of Technology in Weihai, East China's Shandong province.

Chen Shaote, the 19-year-old initiator and largest shareholder of wowo coffee, said the secret behind their success within one year is that the quality of the material they use is of good quality and the price they charge is much lower than other outlets.

Initially only 8 people were in charge of the shop's operation but now the team has expended to 70 with 10 shareholders, said Chen, who opened the 220-square-meter coffee shop with other 7 students in May 2016.

The institute provided the space at no charge to support the students’ entrepreneurial dream.

Chen, the junior student with 26 percent share, said the annual profit is tens of thousands of yuan and they share their dividends each semester.

They donate 15 percent of their profits to charities, Chen added.