Hengqin banks on subsidies for high-tech progress

Millions of dollars are being offered this year to support high-end innovative and entrepreneurial teams, reduce business operating costs, and expand R&D in Hengqin New Area.

Toward that end, the Hengqin New Area Administrative Committee strengthened its incentive policies on Jan 9. The further objective is to attract more high-caliber talents and high-end scientific and technological projects, while also encouraging embedded hi-tech industries.

Local enterprises will be offered subsidies ranging from 10,000 ($1,530) to 50,000 yuan ($7,670) for each patent approved. Even more is available for those acquiring the Integrated Circuit Layout Design Certificate, utility model patents or software copyrights: an annual maximum of 3 million yuan ($460,050) for each enterprise.

Up to 600,000 yuan ($92,010) will be granted to those recognized as a first author by the State Intellectual Property Office of the PRC. 

Hengqin New Area

Those newly certified as having a Chinese National Well-Known Trademark or a Guangdong Province Famous Trademark will be funded with a one-off subsidy of 1 million yuan ($153,350) and 300,000 yuan ($46,000) respectively.

Hengqin enterprises whose pre-tax deduction of R&D expenditure over the past year exceeds 100,000 yuan ($1,530) may receive an annual subsidy of up to 5 million yuan ($767,670) each -- the highest citywide.  

Companies that set up offices in the Macao-Hengqin Youth Entrepreneurship Valley (Inno Valley HQ) or China-Latin America Economic & Trade Cooperation Park can each get a rent subsidy for up to three years.

Those in the Hengqin-Zhuhai Free Trade Zone-Hongwan integrated area that accommodates sci-tech firms in industrial parks with professional services may receive free rent of up to 3,000 sq m in space.

Public Sci-Tech Innovation Service Platform  [Photos courtesy Zhuhai Daily]

Furthermore, a maximum of 10 million yuan ($1.5 million) may be granted to enterprises designated as Public Sci-Tech Innovation Service Platforms by the Hengqin New Area Administrative Committee based on outlays for equipment or software.

The Hengqin New Area Angel Investment Fund, established with 50 million yuan ($7.7 million) contributed by Hengqin Financial Investment and the Hengqin Industrial Investment Fund each, will work under the limited partnership concept. It may grant a one-time subsidy of up to 5 million yuan ($767,670) to an enterprise, with the maximum accumulated sum being 20 million yuan ($3 million), according to the new policies.