On 1 July 2019, the Pudong New District Science, Technology and Economy Commission published the Implementing Rules of the Supporting Measures to Boost Innovation and Entrepreneurship of Micro- and Small-sized Enterprises in Pudong New District. These are aimed at increasing the administrative and financial support granted to micro- and small-sized enterprises or entrepreneurs in Pudong. These include, for instance:
- Support to the development of innovative incubators, accelerators, and makerspaces: incubators and makerspaces may receive rewards of up to 2 million RMB every year according to their achievements in terms of number of enterprises incubated, number of talents recruited, and number of scientific results transferred. 3 million RMB may be granted to accelerators. Other rewards may also be granted in case of exceptional contributions and achievements.
- Reducing the costs of innovation and entrepreneurship: a one-time reward of 50,000 RMB will be granted to entrepreneurship teams that have won competitions and that have entered a Pudong-based incubator. Up to 150,000 RMB of subsidies may be granted for office space rented within incubators.
- Increasing R&D and innovation capabilities: up to 1 million RMB of subsidies will be granted to micro- and small-sized enterprises that purchase or introduce new technologies or equipment for indigenous innovation (the specific amount will be 20% of the money spent by the enterprise). 400,000 to 600,000 RMB of rewards will also be granted to enterprises which are selected under the Pudong New District High-Growth Micro- and Small-sized Enterprise Cultivation Plan.
- Supporting the establishment of high-quality innovation platforms and bases: up to 5 million RMB of subsidies will be given to facilities established in Pudong (in line with local development priorities and objectives) by global top 100 universities, global top 100 research structures, Fortune 500 companies, or Chinese first-class universities.
- Expanding financing support: up to 500,000 RMB of subsidies may be granted to Pudong-based micro- and small-sized enterprises which get listed on the stock market or on the innovation board. Other subsidies will also be granted to firms which offer financing services to Pudong-based micro- and small-sized enterprises.