The Guangdong Macao In-Depth Cooperation Zone in Hengqin has taken a bold step to become a hotbed for technological innovation. They recently unveiled a comprehensive package of “Several Measures for Promoting Technological Innovation Development in the Cooperation Zone,” outlining 22 initiatives designed to supercharge tech advancement across six key areas.
These measures prioritize collaboration. Hengqin aims to work closely with Macau to establish industry-university-research demonstration bases, technology innovation platforms, and incubators that nurture tech entrepreneurs. Funding is a major focus, with the program offering substantial support for the construction of major innovation platforms. Domestic and foreign entities can collaborate with Macau universities and research institutions to secure funding equivalent to 30% of the platform’s investment, capped at 13.8 million USD.
To attract cutting-edge projects, Hengqin is also encouraging international innovation and entrepreneurship competitions. These competitions will target projects with core technologies and industrialization potential in key industries like integrated circuits, new materials, new energy, big data, and artificial intelligence (AI). Winning enterprises can expect generous rewards, with a maximum of 100 million yuan (approximately 14.5 million USD) in combined subsidies and equity investments, alongside competition awards reaching up to 300 million yuan (approximately 43.5 million USD).
Boosting research and development (R&D) is another pillar of the initiative. The cooperation zone has pledged a yearly R&D subsidy pool of 100 million yuan (approximately 14.5 million USD). Additionally, individual enterprises can qualify for subsidies covering up to 10% of their R&D expenses, capped at 5 million yuan (approximately 725,000 USD) annually.
Recognizing the importance of international collaboration, the program offers significant incentives for foreign-funded R&D centers. Recognized centers can receive a one-time reward of up to 10 million yuan (approximately 1.45 million USD). Furthermore, enterprises partnering with recognized overseas R&D institutions can qualify for a 1 million yuan (approximately 145,000 USD) reward, with this amount rising to 1.2 million yuan (approximately 174,000 USD) for collaborations with institutions based in Macau and Portuguese-speaking countries.
Finally, the program aims to create a cost-effective environment for tech companies. Sci-tech institutions can leverage rental subsidies lasting up to five years, with the amount determined by a professional appraisal. Technology enterprises looking to purchase office space can also benefit from a subsidy equivalent to 20% of the purchase price, capped at 20 million yuan (approximately 2.9 million USD).
Hengqin’s commitment to fostering technological innovation is undeniable. Through a combination of funding, collaboration opportunities, and reduced operational costs, they are creating a fertile ground for groundbreaking advancements in various tech sectors. This initiative has the potential to position Hengqin as a leading hub for technological innovation in the years to come.