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Xuhui District to invest 200m yuan by 2020 to subsidize startups
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Xuhui District government will allocate 200 million yuan by 2020 to subsidize and award startups in the district, a senior official said today.
The startups or professionals working in the district for more than a year can receive a sum of life and housing subsidy from the government after passing evaluation, said Wang Hongzhou, deputy district governor.
The startups can also apply to compete for several awards to get more cash supports from the district, Wang told the district’s innovation startup theme activity today.
The overseas professionals and foreign student startups will be awarded if they choose to set up their companies in the district, he added.
The government will also assist those professionals to apply for local residence permits, medical insurances and children’s educations.
Senior officials at startup companies can apply to live in a professional’s apartment for at most five years.
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