Young entrepreneurs with high-growth science and technology projects can now apply for a startup subsidy of up to 1 million yuan ($138,000) per year for three consecutive years under a special fund initiative in Zhangjiang Science City.

The E03 policy, part of Zhangjiang Science City’s dedicated development fund, is aimed at fostering innovation-driven businesses in key industries such as integrated circuits, biomedicine and artificial intelligence.

1. Support

(1) Basic subsidy (up to 200,000 yuan per year)

• Year 1: 50,000 yuan per person based on the number of employees enrolled in social insurance.
• Year 2: 50,000 yuan per person based on the increase in insured employees from the previous year.
• Year 3: 50,000 yuan per person based on the increase from the second year.

(2) Supplementary subsidy (up to 800,000 yuan per year)

• Requires signing a project task agreement.
• Companies must meet annual development targets such as workforce size, core patents, and market expansion.
• Companies may receive a subsidy of up to 50 percent of their verified investment amount. Eligible investment costs include one-time office renovation expenses and R&D spending (based on the amount eligible for additional tax deductions), with salaries for R&D personnel capped at 80 percent of the verified amount.
• Eligible projects may be prioritized for low-rent startup office space at 1 yuan per square meter.

2. Application requirements

Projects must meet all the following criteria:

• Operate within a key industry of Zhangjiang Science City — such as integrated circuits, biomedicine or artificial intelligence — with innovative technology, product or service models, strong growth potential and full intellectual property ownership.
• The operating company must have been established on or after Jan 1, 2024, and must be registered, pay taxes, and conduct operations entirely within Zhangjiang Science City.
• Must have at least one employee enrolled in social insurance.
• The main founder (the largest or principal natural person shareholder) must be under 40 years old as of Jan 1 of the application year.
• Founders should hold at least a bachelor's degree or be currently enrolled as students, and contribute to social insurance through the operating company.

3. Application and review process

(1) Project application

Submit online through one of the following platforms:

• Pudong New Area special fiscal investment service platform
• Zhangjiang Science City enterprise services platform

Choose project code E03 to apply.

(2) Project review

(3) Project agreement

Selected project operators will sign a project task agreement with the Zhangjiang Science City Construction and Administration Office or the relevant subdistrict, specifying annual development goals, the proportion of supplementary subsidies, and other relevant details.

(4) Subsidy disbursement

4. Required documents

• Project development plan (including core team, technology and products, investment, and annual targets)
• ID, diploma or enrollment certificate, and equity ownership proof for the main founder
• Lease contract or property certificate for the company’s premises
• Additional materials if available, such as funding proof or awards

5. Contact information

For consultation, please call 021-3383-5130 during working hours:

Monday to Friday, 9 am–11:30 am, 1 pm–5 pm.

Source: sh-italent.com