Innovation and entrepreneurship finalists subsidized

Subsidies totaling 253.5 million yuan ($36 million) will be granted to 22 selected innovation and 14 entrepreneurship teams and one high-caliber talent project, it was decided recently at an executive meeting of the Zhuhai Municipal People's Government.

Most of the teams are engaged in electronic information, materials and energy conservation and environmental protection, and biomedicine and medical equipment endeavors.

Fifteen (40.6 percent) of the 36 subsidized teams are located in the Zhuhai Hi-Tech Industrial Development Zone (Tangjiawan), six (16.2 percent) elsewhere in Xiangzhou District, four (10.8 percent) in Hengqin New Area, and four in Jinwan District.

In all, 129 such teams and one talent project passed formality examinations since the selection began in late 2018. The final awardees were determined from online review, presentations, on-site investigations, and due diligence.

In 2017, only 18 innovation and entrepreneurship teams were recognized. On aggregate, the total subsidized team numbers increased by 83.7 percent from 43 during the 2014-17 period to 79 during 2014-18.

Zhuhai has increased support for innovation and entrepreneurship projects since the launch of the Zhuhai Talent Program in 2018. The maximum subsidy was raised from 20 million yuan ($2.8 million) to 100 million yuan ($14.2 million), attracting a great number of high-quality sci-tech projects to settle in the city, according to an official of the Zhuhai Scientific & Technological Innovation Bureau.

There is only one high-caliber talent project as applications were interrupted by the suspension of the selection under this category the previous year.