A food social networking platform called Yami, incubated in Tianhe district, was named one of “China’s Top 50 Best Innovative Companies” by the Chinese edition of the American business magazine, Fast Company, last April.
Yami is just one of the companies that the Tianhe government provided with a subsidy or award this year. The district is looking for others.
Some of the industries that Tianhe district is placing priority on are finance, new generation information technology, modern business and trade, cultural creativity, and biological engineering, to name a few.
As of October, 2,350 companies have received about 320 million yuan as subsidy or award by the government. It is estimated that as much as 400 million yuan could be handed out this year, according to Pan Weizhi, standing member of the CPC Tianhe District Committee and executive deputy head of the Tianhe district government.
Over 90 percent of the supported firms are technology and innovation start-up companies with high growth potential, including online music provider Kugou, customized furniture maker Homekoo, UC browser, CEPREI Certification and the online gaming platform, Flamingo. What are the (maximum) subsidies and awards?
1. The leading entrepreneur of the district – 5 million yuan
2. Equity investment team – 3 million yuan
3. Major enterprise settling in the district – 2 million yuan
operation subsidy + 2 million yuan office subsidy
4. Enterprise of outstanding contribution – 2 million yuan
5. Enterprise listed in the main stock market – 2 million yuan
6. Building an office block – 2 million yuan
7. Major enterprise in the technology park – 2 million yuan
8. Renovation of industrial park – 2 million yuan
9. Green industry – 500,000 yuan
10. Technology industry project – 500,000 yuan
11. Incubator and maker space – 400,000 yuan