Shenzhen offers funding for technological innovation to small and micro enterprises

Small and micro high-tech enterprises can apply online for government funding for technological innovation projects via the Shenzhen Science and Technology Business Management System from April 28 to May 19.

The initiative, unveiled recently by the Shenzhen Municipal Science and Technology Innovation Bureau, is part of Shenzhen’s ongoing effort to promote innovation and support the growth of small and micro businesses, positioning the city as a leading hub for technological development.

The move aims to enhance innovation across various critical sectors, including semiconductors and integrated circuits, high-end equipment and instruments, commercial aerospace, embodied intelligence, edge intelligence, ultra-high-definition video, networks and communications, optical information, synthetic biology, new materials, new energy, and sustainable development. 

Notably, the initiative also emphasizes key industries related to ecological environment and dual carbon reduction, safety and emergency responses, agriculture, marine food, health, fashion, sports, and cultural industries.

Each eligible project can receive financial assistance of up to 500,000 yuan (US$68,568), structured as pre-funding with a two-year implementation period.

To qualify for this funding, applicants must be legally registered in Shenzhen, including the Shenshan Special Cooperation Zone. Additionally, companies must be registered after Jan. 1, 2020, and have a maximum revenue of 20 million yuan for 2024. Furthermore, the workforce must comprise at least 30% of R&D personnel.

Companies applying for the fund must demonstrate the necessary resources and conditions for project implementation, including R&D facilities and personnel in Shenzhen. 

They are also required to maintain sound systems for research, finance, and intellectual property management, alongside relevant research foundations related to their proposed projects. Businesses must provide self-raised funds at least equal to the amount they are seeking from the government.

The project leader is required to have the technical expertise and organizational skills necessary for successful completion and should be a full-time R&D employee at the applicant company, actively contributing to the firm's social insurance. 

Applicants must ensure that the project leader is under the age of 60 at the project's completion, and at least 50% of the project team must also be contributing to social insurance in Shenzhen.

The guidelines stipulate quantifiable technical, academic, and economic indicators must be established for project assessment, with revenues or production application values needing to reach at least twice the amount of the requested government funding.