Shenzhen currently has 50 municipal-level startup incubator bases, 80% of which have received investments from private companies and are highly market-oriented. Shenzhen has issued a slew of preferential policies for starting a business. Individuals and partnerships who start a business can apply for a secured startup loan of up to RMB 300,000 and RMB 3 million, respectively.
The Human Resources and Social Security Administration of Shenzhen Municipality recently held a meeting to share experiences on startup incubator bases and issued licenses to 34 municipal-level startup incubator bases. These were the first startup incubator bases to be certificated by the municipal government since Shenzhen issued Measures on Administration of Startup Incubator Bases in May 2017. With the inclusion of the existing 16 bases, there are now 50 municipal-level startup incubator bases in Shenzhen.
Among these, seven were established by colleges and universities and 43 were established via private investment, indicating that over 80% of the municipal-level startup incubator bases were invested by private companies and highly market-oriented. In terms of regional distribution, nearly all districts have at least one startup incubator base, with 10 in Futian District, three in Luohu District, 13 in Nanshan District, 9 in Baoan District, 9 in Longgang District, one in Longhua District, three in Pingshan District and two in Guangming New District. Startups in the areas of electromechanics, electronics, computers, logistics, trade, e-commerce and culture and creativity have all joined these bases.
In recent years, Shenzhen has issued a wide range of preferential policies for those wanting to start a business, including offering loans, subsidies and guidance. Individuals and partnerships who start up a business can apply for a secured loan of up to RMB 300,000 and RMB 3 million, respectively, and they can enjoy loans with discounted interest for up to three years as well as subsidies to help pay for social insurance, initial costs of starting a business, leasing office space, and creating jobs.
In 2017, Shenzhen issued RMB 18.9897 million worth of subsidies for starting a business and 552 individuals applied for subsidies to assist with leasing office space. The public employment service center in Shenzhen can assign tutors to these bases to answer questions on business models, law and finance.
The center will continue to certify municipal-level startup incubator bases and evaluate existing certified bases. It will also certify municipal and provincial-level startup incubator bases and those that receive certification will get a subsidy of RMB 300,000 and RMB 500,000, respectively.
