Foshan rolls out policies to support high-tech entrepreneurial teams

Updated: May 06,2021


Foshan National High-tech Economic and Technological Development Zone held a news briefing on April 14 to explain a guideline on the implementation of a special fund designed to financially support high-tech teams in their industrialized entrepreneurship.

It was the latest effort made by the zone to implement the innovation-driven development strategy, build the zone into a highland of talent, and attract more high-quality industrialized entrepreneurship projects.

The revised guideline has made specifications on the introduction of new supporting measures, the simplification of application materials and the improvement of approval standards and reinforcement of follow-up supervision, making relevant policies more precise and manageable.

Liang Tie, Deputy Director of the Bureau of Liaison Affairs in the zone, gave an explanation of five highlights in the guideline.

According to the document, the planning of relevant sectors will be integrated with the zone's 14th Five-Year Plan (2021-25). The guideline has given definitions to leading industries in five separate industrial parks, with the aim of making the assistance more precise.

The zone will allocate 97 million yuan ($14.9 million) to support the development of relevant entrepreneurial enterprises this year, an increase of 17 million yuan from last year.

All industrial parks in the zone have introduced their own supportive policies to further strengthen the assistance to candidate high-tech teams.

Relevant enterprises can submit their application to the administrative committee of the zone via a new channel.

Moreover, the zone has set up a new firm with a registered capital of 30 million yuan to build a cooperation with outstanding teams.

About 100 enterprises and incubation platforms attended the event, which was also broadcast live to a radio audience of an estimated 23,000 people.

The zone extended support to local high-tech teams in their industrialized entrepreneurship for the first time in 2020 and received a warm response from candidate enterprises and incubation platforms.