On 23 April 2019, the Science, Technology and Economy Commission of Pudong New District published a call for comments on a draft version of a series of Supporting Financial Measures to Boost the Innovation and Entrepreneurship of Micro and Small-sized Enterprises in Pudong. The deadline for submitting comments is 30 April 2019.
The draft document includes a total of five supporting financial measures that will be in place until 31 December 2020:
- Innovation and Entrepreneurship Carriers: up to 3 million RMB per year granted to leading enterprises, VC firms or park development companies that have successfully established innovative incubators or accelerators
- Reducing Innovation and Entrepreneurship Costs:
- 50,000 RMB to entrepreneurship teams who have won municipal-level (or above) entrepreneurship competitions, and have entered Pudong-based incubators
- Up to 150,000 RMB per year of subsidies for innovation costs to incubated start-ups in Pudong-based incubators
- Scaling-up of Micro and Small-sized Enterprises:
- Subsidy to micro and small enterprises which import/purchase key technological equipment/instruments, amounting to 20% of the investment cost (up to 1 million RMB)
- Up to 1 million RMB to high-growth micro and small enterprises
- Establishment of Functional Platforms: up to 5 million RMB to leading enterprises, research institutes or park development companies which have established, in cooperation with other domestic or international enterprises, universities or research structures, open platforms serving the needs and purposes of micro and small-sized enterprises
- Enhancement of Public Services: up to 500,000 RMB to service firms which provide free or discounted services to micro and small-sized enterprises
The measures are retroactive starting from 1 January 2018.