Zhuhai solicits opinions on preferential policies for unicorns

Zhuhai Science & Technology Innovation Bureau is soliciting public opinion through July 19 for the recently-released Supporting Policies on the Cultivation & Management of Zhuhai High-Growth Innovative Enterprises (Unicorn Enterprises) (draft).

The document was aimed at supporting Zhuhai's "industry first" development strategy, accelerating the establishment of a high-end industrial cluster in the Guangdong-Hong Kong-Macao Greater Bay Area, and cultivating a group of unicorn enterprises. 

The policies include 37 items in nine chapters covering subsidies, application requirements, and services for enterprises in unicorn cultivation repositories. 

Zhuhai National Hi-Tech Industrial Development Zone (Tangjiawan) [Photo by Cheng Lin / Zhuhai Media Group]

Zhuhai-based enterprises engaged in cutting-edged interdisciplinary areas like future computing, brain-like intelligence, quantum information, genetic technology, and synthetic biology as well as Zhuhai's four leading and three advantageous industries with core intellectual properties will be included in unicorn cultivation repositories as long as they devote a large amount of resources to research and development, have a high ratio of R&D staff members, and achieve rapid growth in operating revenue. 

Outstanding enterprises with innovative models related to financial technology, new retail, smart logistics, e-commerce, online celebrities, digital entertainment, and digital medicine will also be selected.

Companies registered in Zhuhai and meet the related requirements will enter the city-level unicorn cultivation repositories and be rated as super, common, seeded, or potential unicorns according to their valuation levels and amounts of funding raised.

Others outside the city but plan to set up headquarters or R&D bases in Zhuhai can be listed in a special repository as major investment attraction projects after credit risk examinations.

Zhuhai-based common, potential, and seeded unicorns being added to the repositories can receive a 2-million-yuan ($298,246) R&D startup fund and newcomers of super unicorns will be granted 5 million yuan ($745,615). Those unicorns outside the city can also apply for the reward after settling in Zhuhai and starting project construction and operation. 

In addition, rewards will be granted to enterprises for becoming unicorns, securing funding, entering top unicorn lists, or winning prizes at innovation and entrepreneurship competitions. Services such as project support, incubation, and land lot guarantees are available for enterprises in the repositories.