The Hetao Shenzhen-Hong Kong Science and Technology Cooperation Zone (HTCZ), the Shenzhen section of Shenzhen-Hong Kong Science and Technology Cooperation Zone, has begun accepting applications for its industrial policy package, according to Shenzhen Evening News.

The industrial policy package covers six fields, namely medical technology, big data and artificial intelligence, robotics, new materials, microelectronics and fintech.

It focuses on supporting Hong Kong, Macao, Taiwan and overseas teams, universities, research institutes, R&D-oriented enterprises, and other teams and institutions that specialize in major key and core technologies.

Applicants that have obtained industrial policy package for initiating projects will receive incentives no more than 50 million yuan (US$6.9 million) for settling down in the Shenzhen portion of the cooperation zone and 30% to 70% of rent assistance.

Meanwhile, HTCZ will also provide subsidies no more than 100 million yuan to identified major functional platforms such as national/provincial laboratories, national/provincial/municipal technology innovation centers, manufacturing innovation centers, and engineering research centers.

According to the News, HTCZ has also formulated 19 specific development plans to provide holistic services and create a good industrial ecosystem for innovators.

These development plans include major scientific and technological infrastructure key technologies and equipment R&D support plans. HTCZ supports the R&D of cutting-edge key and core technologies in the field of equipment, parts and processes to improve the self-sufficiency rate of domestically developed products.

Once applicants meet the plan’s approval criteria, a subsidy of up to 50% of the project’s total investment will be provided, and a subsidy of up to 50 million yuan will be given to major projects with strong driving force.