The Dream Factory of China

Source :Shenzhen Daily

The Qianhai authority recently released a pilot measure to advance the implementation of science and technology innovation. The measure will help Qianhai build the innovation chain for Shenzhen and Hong Kong’s science and technology development, reduce the costs of innovation and entrepreneurship cooperation between Shenzhen and Hong Kong and optimize the allocation of innovation factors such as technology, equipment, capital and personnel between Shenzhen and Hong Kong.

To promote cross-border integration of innovation elements within Shenzhen, Hong Kong and Macao, the measure supports institutions of higher learning from Hong Kong and Macao to set up incubation institutions and funds. Among them, incubators with no less than 70% of Hong Kong and Macao teams will be given priority to enjoy support from the Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub and other carriers. Additionally, Hong Kong and Macao talents will be provided with accommodations and other one-stop supporting services.

For incubation funds that are invested in innovation and entrepreneurship teams in Hong Kong and Macao and that account for at least 70% of the total investment, the Qianhai Industry Guide Fund will participate in the establishment of the funds through partnerships or equity participation.

To foster an innovation ecosystem for science and technology cooperation among Shenzhen, Hong Kong and Macao, the measure also focuses on supporting various forms of science and technology innovation cooperation. To support the establishment of joint labs between Fortune Global 500 enterprises and national innovation carriers or important international laboratories, qualified joint labs will be offered up to 500 million yuan as financial support; to support the establishment of social organizations in Qianhai that promote cooperation in scientific and technological innovation and opening up among Guangdong, Hong Kong and Macao, a one-time 300,000 yuan provision will be offered to those who meet the conditions; to support major international scientific and technological exchange activities, 30% of the actual expenses incurred in the activities shall be supported, up to a maximum of 2 million yuan.