Guangming District has fostered a nurturing environment for early-stage technology startups to thrive and their transition from research to market reality in recent years, the Shenzhen Guangming WeChat account reported.

The district has become a pivotal hub where companies can flourish from inception to market success, leveraging a robust scientific and technological ecosystem with adaptable support mechanisms.

The Shenzhen-Hong-Kong-Macao Scientific and Technological Transformation Base has introduced initiatives, including the provision of up to three years of rent-free facilities and a maximum subsidy of 500,000 yuan (US$68,570) to invigorate the growth and innovation capacity of enterprises from Hong Kong and Macao.

Established on July 31, 2020, the base is situated within the Huaqiang Creative Park in Guangming, just a short 30-minute journey from bustling West Kowloon, Hong Kong.

Eligibility criteria emphasize holding relevant identity cards and equity stakes, with a particular focus on fostering young talent and exceptional projects from Hong Kong and Macao. Entrepreneurs approved under these criteria can benefit from up to three years of rent-free office space, receive startup grants up to 300,000 yuan for seed teams, and access startup funds of up to 500,000 yuan for technology-based enterprises.