Foshan National Hi-tech Industrial Development Zone in south China's Guangdong province, has released a plan to attract more high-tech talents to inaugurate their business ventures with financial assistance.

A special fund worth nearly 100 million yuan ($15.69 million) will be open to prospective applicants for financial aid with the aim of promoting the implementation of an innovation-driven development approach and building a high-caliber talent hub in the national high-tech industrial development zone.

The fund will mainly focus its financial assistance on those involved in leading industries like high-end equipment manufacturing, smart homes and new materials.

Meanwhile, it will attach great importance to the building of specialty industrial clusters related to core electronics, bio-medicine and health, and producer services, as well as to the development of new industrial sectors and business modes, which include robotics, additive manufacturing technology (3D printing), new energy vehicles, hydrogen energy and the industrial internet.

Applications for financial assistance can be submitted in the names of either entrepreneurial teams or companies, which shall consist of no less than three leading figures in their future business ventures.

An amount of eight million yuan will be allocated in a span of three years to reward those whose business ventures reach advanced international levels, enjoy cutting-edge technologies at home, hold advanced patents of invention and other independent intellectual property rights, and boast strength in the commercialization of their research progress on an industrial scale, as well as bright prospects in the market.

For those whose entrepreneurial programs are aligned with advanced domestic levels, hold cutting-edge technologies at home, high-caliber patents of invention in Guangdong and other independent IP rights, they will receive five million yuan from the special fund to cover their research and development, production and operating expenditures.

Two million yuan will be given to entrepreneurial teams whose business projects enjoy advantageous development strengths and potential within the province.

Both individuals and firms can visit https://fsfczj.foshan.gov.cn/#/home and submit their application materials for preliminary review starting from March 22.

If an application is submitted by a company, its business license should be granted within two years (calculated from March 22, 2022) and its paid-in registered capital should exceed one million yuan. Meanwhile, the percentage of shares held by the team leader and other leading figures in the company should account for 30 percent or more.

Online application: 22, March, 2022 - 5, May, 2022