On April 14th, the Management Committee of Foshan National Hi-tech Industrial Development Zone (hereinafter referred to as “Foshan Hi-tech Zone”) held a launching ceremony for its Special Funds 2021 targeted at high-tech industrialization of entrepreneurial teams. Delegates from nearly 100 companies and entrepreneurship platforms attended the event, which features an interactive Q&A with industrial experts.

With a mission to further the innovation-driven development strategy that guides Foshan to become a magnet for industrial talents and high-quality entrepreneurial projects, Foshan Hi-tech Zone has renewed its funding policies this year with stronger supports.

Supporting funds increase to 97 million yuan

Since the special fund was initiated last year, positive responses have been received from enterprises and entrepreneurial teams. 21 entrepreneurial teams, including Beijing Yuansheng Kangtai Gene Technology Co., Ltd. (whose founder and CEO is Yu Le) have greatly benefited from the project. Later on, tons of industrial projects in sectors such as comprehensive health, artificial intelligence and new materials settled in Foshan Hi-tech Zone.

For this revised funding policy, it is important to note the following aspects:
1) it is synchronized with the "14th Five-Year Plan" of Foshan High-tech Zone, with "3+3+X" (like high-end equipment manufacturing, smart homes, and new materials) being the leading industries;
2) the special funds have scaled up to 97 million yuan, an increase of 17 million yuan from 2020;
3) supporting policies will be issued by industrial parks to facilitate entrepreneurial teams;
4) new access to funding declaration (direct submission to Management Committee of Foshan Hi-tech Zone)

A rating system for applicants (ranging from 2 to 8 million)

When applying for the special funds, applicants will be taken into accounts in various aspects: 1) the type of project declared by the entrepreneurial team; 2) the degree of advancement in technological outcomes; 3) the prospects for commercialization and industrialization; 3) to which extent the project contributes to both emerging industries in Foshan Hi-tech Zone and the traditional industries.

Accordingly, entrepreneurial team will be divided into levels of A, B, and C. For those rated as Level A (internationally advanced and domestic top entrepreneurial projects), the subsidy will reach 8 million yuan; for those rated as Level B (domestically advanced and top entrepreneurial projects in the province), the subsidy will reach 5 million; for those rated as Level C (top entrepreneurial projects in the province/region), the subsidy will reach 2 million.

The project fund will last for 3 years and will be distributed in two phases according to the project progress.

Delegates from nearly 100 companies and entrepreneurship platforms conducting an in-depth research on the spot

Create a more friendly environment for talent teams

Next, Foshan Hi-tech Zone will work to put in place the special funds for entrepreneurship. For talents teams entering Foshan, local government will greet them with premium services and look to see technological achievements take root in Foshan.

Author | Jersey

Revisor | Jessica

Photo & Video | Pearl River Times, Foshan News Network