Cash subsidies for 5G innovation

Guangzhou’s Huangpu District has a plan for building a strong cluster of companies around 5G-enabled products and services. It includes subsidies and rewards of up to 5 million yuan per company, according to local media. 

Those developing core technologies such as high-end microchips, components, and new 5G terminals are in line for up to 3 million yuan in “cultivation rewards”. They can also apply for a one-time subsidy of 300,000 yuan per staff hired that meets the city government’s standards for “talent”.

On top of that, successful companies generating sales of more than 100 million yuan can get rewards of up to 2 million yuan. 

The district is also looking at applied technologies, particularly in autonomous driving, smart manufacturing, and smart cities. Successful enterprises can also get up to 5 million yuan in subsidies. 

That is not all. Industrial parks and incubators will be supported, with up to 600,000 yuan in rent subsidies and 1 million yuan in renovation subsidies.

It seems that R&D will be a key focus of development in 5G, as the district is providing loan subsidies and investment awards for those organizing high-level 5G industry summits, major forums, innovation contests and other activities in the district to build the GBA into a 5G Industry Demonstration Area.

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