Shanghai's Qingpu district introduced a new talent policy on March 1, aimed at attracting and supporting professionals in innovation and entrepreneurship. The policy outlines five key initiatives designed to enhance talent recruitment and foster a thriving environment for growth.

1. Startup funding

The first initiative focuses on a comprehensive startup funding program. Innovation teams and startups can receive up to 20 million yuan ($2.9 million) in research and development subsidies. Exceptional projects can receive up to 50 million yuan, while individual innovators and entrepreneurs are eligible for subsidies ranging from 1 million to 1.5 million yuan. Top-tier talent may qualify for tailored support with no funding cap.

2. Office space support

The second initiative offers innovation and entrepreneurship teams up to 100,000 yuan annually in office space subsidies for three years. Projects that achieve commercialization can receive a 50 percent rent subsidy, totaling up to 1 million yuan over three years. Additionally, individuals with overseas study experience are prioritized for free or discounted office space at the Shanghai Qingpu (Yangtze River Delta) Pioneering Park for up to three years.

3. Housing assistance

The third initiative provides housing support. Leaders of innovation and entrepreneurships, as well as individual innovators and entrepreneurs who purchase their first self-use home in Qingpu district, can receive a housing subsidy of up to 3 million yuan. Those opting to rent can receive priority access to talent apartments or rental subsidies.

4. Lifestyle services

The fourth initiative offers a range of lifestyle services, including exclusive services in talent recruitment, children's education, healthcare, medical check-ups, and legal and financial assistance through the district's talent bureau.

5. Talent referral incentives

Organizations or individuals recommending outstanding talent to Qingpu district can receive a reward of up to 500,000 yuan.

Source: Shanghai Observer