The Huizhou Zhongkai Hi-tech Industrial Development Zone (HZZK) in Huizhou, Guangdong province, China is investing more to attract the world’s most talented entrepreneurs.
The new policies put in place were part of the zone's Kaixuan Talent Plan and are meant to boost the development of high-tech companies and the entrepreneurs who run them to transform the zone into a scientific and technological hub.
Part of these policies is increased the funding available to innovative businesses and start-ups meant to incentivize talented individuals who set up their business there, as well as extended the scope of available support services.
Over the past three years, HZZK said it has invested approximately $29 million in a special talent fund to provide financial support to over 1,200 companies and more than 4,000 talented individuals, directly contributing to the more than $2.9 billion of economic growth that has taken place in the zone.
In 2016, the HZZK strategic talent plan deployed a special talent fund of $7 million for recruiting, training, motivating and supporting qualified talented individuals.
A top aide at the zone's High-Level Talent Service Center said all qualified individuals who start a business in the zone can receive approximately $150,000) as seed money for their start-ups, $30 million as venture capital, over $4.3 million a year as periodic ongoing support and, for businesses identified as being in a one of the nascent emerging industries, access to a strategic emerging industry development fund totaling $1.5 million.
In addition, each individual can receive a monthly living allowance of up to $1,500 and a housing allowance of up to $75,000). For individuals identified as key contributors and for talented individuals who come as a group with a meaningful project in mind, the zone can tailor a unique preferential treatment program to assist in such projects.
HZZK has also set aside 500,000 square meters specifically for that purpose, providing a Chinese presence for several incubators including the Boston Incubator, the Overseas Platform for Innovative Services in Maryland, the Economic and Technical Exchange Center in Germany (with the presence serving as the overseas liaison office for talented individuals), the Incubation Center in Taiwan, the Offsite Incubator for Zhongguancun, Beijing, and the ZK National Incubator.
Over the last several years, HZZK has constantly adjusted the industry mix in the zone, while always remaining in full compliance with all international standards. As a result of the availability of extensive platforms and quality services, more than 2,000 companies have chosen to locate in the zone, including several Fortune Global 500 Companies, among them, Samsung Electronics, Sony, Hitachi, LG and CCoca-Cola as well as domestic firms including TCL, Desay Industrial and ADAYO, which have formed a strategically emerging industry cluster that includes flat panel displays, LEDs, mobile, new energy and cloud computing applications as well as smart equipment manufacturing as the leading industries.