In 2020, Foshan National Hi-tech Industrial Development Zone provided support for high-tech start-up teams for the first time, which was warmly welcomed by enterprises and carriers. This year, the policies will be more precise and practical by adding support, optimizing application materials, improving auditing standards and strengthening supervision.

The revised supporting policies have five highlights, including:  

01. The supported fields are more elaborate and are consistent with the 14th Five-Year Plan, the leading industries of the five parks (namely Chancheng Park, Nanhai Park, Shunde Park, Gaoming Park and Sanshui Park) have been defined and the areas of support are clearer; 

02. The support fund will reach 97 million yuan, an increase of 17 million yuan from 2020; 

03. Authorities in each park have issued ancillary policies to increase the support for talent teams; 

04. Application channels have been added, and talent teams can apply directly from the portal of the Administrative Committee; 

05. The Administrative Committee of Foshan National Hi-tech Industrial Development Zone has established an investment company, which will directly invest 30 million yuan in excellent talent teams. 

The approach to managing the special funds for high-tech start-up teams of the Foshan National Hi-tech Industrial Development Zone (hereinafter referred to as the "Approach") has been formulated to implement the innovation-driven development strategy, stimulate innovation and development vitality and introduce high-quality start-up projects to settle in the zone. 

The Approach classifies the start-up teams into three levels, A, B and C, according to project type, the commercial and industrial prospects of technological results, the effect on the cultivation of emerging industries or the upgrading of traditional industries, and the team composition: 

Level A: Start-up projects at the advanced international level and the top domestic level will be granted 8 million yuan.  

Level B: Start-up projects at the advanced domestic level and the top provincial level will be granted 5 million yuan.

Level C: Start-up projects at the advanced provincial level will be granted 2 million yuan. 

1. Conditions

Application subjects shall be project companies or start-up teams that match the following conditions：

01. The subjects own the intellectual property (ownership) of the projects or have a license to the intellectual property rights, or possess novel products that are patentable, innovative, feasible and highly promising. 

02. The projects have the feasibility of industrialization. They are compatible with the zone's existing industrial plan and can lead the development of strategic industries or promote the transformation and upgrading of traditional industries. 

This Approach will give priority to start-up projects that can achieve rapid industrialization, or projects that have obtained investment from venture investment agencies registered by the Asset Management Association of China. 

03. The size and structure of the subjects are in accordance with the requirements. The subjects shall be start-up teams with no less than three members, including one team leader and no less than two core members; and there shall be no less than three full-time staff members among the core members. 

The team leader and core members must not join two or more teams. Subjects are ineligible if they have records of poor use of financial funds, or are defaulters after failing to comply with a court order, or are included on blacklists of the market administration and credit reference system. 

04. The projects shall only be implemented in Foshan National Hi-tech Industrial Development Zone (enterprises outside the zone shall promise that they will meet this requirement within two months after approval), and shall not move away within five years (industrial and commercial registration, tax registration). 

05. As of the issuing date of the guidelines, project companies who apply for funding shall meet the following requirements: no more than two years have passed since the business license was issued, and the sum of the shares held by the start-up’s team leader and core members shall be no less than 30%, and the paid-in registered capital (evidence shall be provided) shall be no less than 1 million yuan; 

Start-up projects with no company shall promise to complete the company registration procedures and meet the requirements of this article within two months after the project approval notice is issued. 

06. During the project's implementation, at least three core members of the start-up's team shall work full-time for the project companies, and the team members shall enter into labor contracts with a term of three years or more with the project companies (the contract term shall include the project implementation period, and the time requirements for working in Foshan National Hi-tech Industrial Development Zone shall be met). 

The team leader shall, in principle, work full-time for the project company. Those introduced from abroad (that is, those who are foreign nationals or green card holders who have worked full-time outside the territory for more than two years) shall work no less than 330 days for the project company during the project implementation period; 

Full-time staff members of the core team are required to purchase social security within the range of the Foshan National Hi-tech Industrial Development Zone (except as otherwise specified by laws and regulations) and shall work no less than 210 days per year in the Fzone; 

If the team leader or one of the core members is a staff member at a college or institute, he/she shall obtain consent for starting a business and submit the necessary supporting evidence. Otherwise, the project will not be supported or support will be degraded. 

07. Teams that have received provincial and/or municipal support for talent teams are no longer eligible; 

Teams that have received district support for talent teams can still apply, and they can only obtain the greater one; 

After the project is approved, and until the project is concluded and accepted, the team leader and full-time core members must not apply for or participate in scientific research projects funded by other governments with the same scientific research project, otherwise Foshan National Hi-tech Industrial Development Zone has the right to recoup supporting funds. 

08. The subscribed capital of the project company shall be no less than the sum of the amount of funds obtained (an ineligible project company shall complete the registration capital subscription and process the business change procedure before entering into the project contract). 

2. Category and method of support

The start-up teams are classified into three levels, A, B and C, according to the project type, the commercial and industrial prospects of technological results, the effect on the cultivation of emerging industries or the upgrading of traditional industries and the team composition. The corresponding amount of financial support and specific review criteria are as follows: 

01. Level A start-up team, 8 million yuan 

Start-up projects at the advanced international level and the top domestic level will be granted 8 million yuan. The start-up project that the team intends to implement should be internationally advanced and boast invention patents or independent intelligent property rights at the top domestic level or advanced international level. The project should also be fully prepared for industrialization and have broad market prospects. 

02. Level B start-up team, 5 million yuan 

Start-up projects at the advanced national level and the top provincial level will be granted 5 million yuan. The start-up project that the team intends to implement should be domestically advanced and boast invention patents or independent intelligent property rights at the advanced domestic level or top provincial level. The project should also be fully prepared for industrialization and have broad market prospects. 

03. Level C start-up team, 2 million yuan 

Start-up projects at the advanced provincial level will be granted 2 million yuan. The start-up project that the team intends to implement should occupy a dominant position or have obvious development potential in provincial (regional) industry development, and have adequate preparation for industrialization and broad market prospects. 

3. Application procedures and windows

Please apply online, the specific operating processes are as follows: 

Step 1: Please log on Foshan Fuchitong（http://fsfczj.foshan.gov.cn/#/home) and enter the key words "special funds for high-tech start-up teams of the Foshan National Hi-tech Industrial Development Zone". 

Step 2: If a project company is not established, the team leader shall apply on behalf of the team; if a project company has been registered and established in Foshan city for less than two years (as of the date of publication of the guidelines, the business license shall not exceed two year), the company shall apply as the project company. 

Step 3: After the approval of formal examination, the applicant shall submit the signed and sealed application materials, project plan and related attachments and materials in quintuplicate to the Administrative Committee of the Foshan National Hi-tech Industrial Development Zone.