A total of 1,175 enterprises have been selected into a High-tech Enterprise Incubator program and will receive subsidy and policy support, according to a list published by the Shenzhen Municipal Science and Technology Commission on Monday.
The enterprises under the program will receive 10 percent of their actual expenses in research and development from the previous year. The subsidy for a single enterprise is capped at 3 million yuan (US$460,700). The enterprises will be delisted from the incubator after being accredited as high-tech enterprises within the three-year incubation period.
The enterprises on the incubation list include Shenzhen Yuhong Precision Mould Co. Ltd. and Shenzhen Fortress Information Service Co. Ltd., whose products have shown great market potential.
Another enterprise, Shenzhen Hongjin Technology Co. Ltd., established in 2014, is an innovation-based high-tech company which provides adhesives to users, including OPPO, VIVO, Huawei, Mi, One Plus and Foxconn.
Meanwhile, Shenzhen Ascentawits Pharmaceuticals Ltd., which moved to Shenzhen in 2017, engages in research on anti-cancer drugs. The company has developed small-molecule anti-cancer pre-drug compounds. The compounds are now about to undergo clinical research.
In recent years, Shenzhen has supported the development of high-tech enterprises through multiple channels, including research subsidies of no more than 10 million yuan.
Shenzhen is home to more than 50,000 high-tech enterprises, including 18,650 State-level high-tech enterprises. The output of Shenzhen’s high-tech industry in 2020 was 2.78 trillion yuan, up by 2.7 percent over the previous year. The added value was 974.7 billion yuan, up by 2.4 percent over 2019.