In a bid to boost the development of synthetic biology enterprises in Guangming, the district's Science and Technology Innovation Bureau has unveiled a guideline, offering targeted support with a substantial subsidy of up to 3 million yuan (US$413,000) per enterprise, Bao'an Daily reported.

Under the program, eligible enterprises endorsed by the bureau that have secured equity investments from accredited angel investors, venture capitalists, or other recognized investment entities stand to benefit. The subsidy amounts to 30% of the actual investment received from the investing institution, capped at 3 million yuan. The disbursement will be spread over three years in installments of 30%, 30%, and 40% respectively, with each enterprise eligible for the incentive only once.

Guangming District is moving towards the goal of creating a globally influential synthetic biology industry hub. In the past three years, 80% of the newly established synthetic biology enterprises in Shenzhen have settled in Guangming. The district has now gathered 116 synthetic biology enterprises with a total valuation of 32 billion yuan. It has established a synthetic biology industrial fund with a scale of 1.5 billion yuan, and is building specialized industrial spaces with a total area of a million square meters.

Key points of the initiative include:

Criteria for Support:

Enterprises must have legal autonomy, clean records for the past three years, annual revenue under 200 million yuan, and have been established within the last five years upon receiving equity investments.

Qualification Validity:

Only enterprises certified as synthetic biology businesses by the Guangming District Science and Technology Innovation Bureau are eligible.

Investment Partner Requirements: 

Only enterprises with investments from specific qualifying entities such as the Guangming District Guided Fund, Shenzhen Angel Mother Fund, or those listed in China Venture Capital Annual Ranking by Zero2IPO will be considered.

Application Timeline:

Enterprises should have received equity funding between Jan. 1, 2023, and Dec. 31, 2023, after being recognized as synthetic biology enterprises.

Transparent Operations:

Compliance with financial regulations, registration on the Guangming District Science and Technology Financial Services Platform, and adherence to all legal obligations are mandatory.