GDD issues policies to support metaverse technologies

On April 6, Guangzhou's Huangpu district and Guangzhou Development District (GDD)  held a press conference, in which measures for promoting the innovation and development of metaverse technologies were released.

This policy is the first metaverse support policy in the Guangdong-Hong Kong-Macao Greater Bay Area, focusing on technologies like digital twin, human-computer interaction, virtual reality, augmented reality, and mixed reality. It aims to promote the industrialization and application of metaverse-related technologies, as well as promote the high-quality development of the digital economy.

An aerial view of Guangzhou Science City. [Photo/WeChat account: guangzhougaoxinqu]

The support scope of the measures covers 10 areas, including technological innovation, application demonstration, intellectual property protection, talent drainage, exchange and cooperation, as well as fund support.

According to the measures, Huangpu district and GDD will reward projects with subsidies of up to 5 million yuan ($786,173) from three aspects, namely metaverse iconic scene construction with Huangpu characteristics, value innovation and public service platforms of the metaverse's key common technologies, as well as metaverse-related research directions.

To date, the GDD has over 100 companies in the metaverse industry chain. In the future, Huangpu district and GDD will focus on introducing and cultivating a group of leading companies that master the key technologies and applications of the metaverse, striving to cultivate 10 to 15 "little giant" enterprises within five years.

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