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**City Launches .4 Billion Unicorn Investment Fund to Boost New Economy** At a press conference held by the City Government on September 14, the much-anticipated "Policies to Support Unicorn Companies on Innovation Island," also known as the "Island Ten Measures," were officially unveiled. This policy framework is designed to foster the growth of unicorn companies and promote rapid development in emerging industries. The "Island Ten Measures" consist of 10 primary policies along with supplementary guidelines. These include: 1. Supporting business aggregation; 2. Promoting research and development; 3. Encouraging market expansion; 4. Fostering financial collaboration; 5. Attracting talent; 6. Safeguarding intellectual property; 7. Facilitating platform sharing; 8. Ensuring company growth; 9. Encouraging sustainable development; 10. Providing customized government services. The aim is to create a comprehensive support system that will nurture unicorn companies throughout their development cycles. ### Unicorn Island in the Making According to the Vice Secretary of the Innovation District, the construction of Unicorn Island, designed to be the top hub for new economy enterprises in China, is underway. The first phase is expected to be completed by the end of the year. Over the next three years, the district plans to attract one super unicorn company, three unicorns, and several quasi-unicorn companies to the island. ### Attractive Incentives for Companies The "Island Ten Measures" provide a series of lucrative incentives for companies that set up operations on Unicorn Island. For instance, unicorn companies that establish their headquarters here will receive one-time rewards of up to 0,000, while quasi-unicorn companies are eligible for up to 0,000. Companies focused on cutting-edge technologies such as AI, robotics, quantum computing, and blockchain will be eligible for additional bonuses of 0,000. Other incentives include subsidies for office space, with companies receiving up to 10% of their office purchase price, capped at .4 million. Temporary office space with rent-free periods of up to one year is also being offered to help businesses transition smoothly. ### Funding R&D and Protecting Intellectual Property Research and development (R&D) is crucial for the growth of new economy companies. To this end, the policy offers several financial incentives. Companies with annual R&D investments exceeding 0,000 are eligible for subsidies of up to 20%, capped at .4 million. Additionally, the policy encourages collaboration with national research platforms and provides support for intellectual property protection. Companies introducing international patents may receive up to 0,000 in subsidies for patent purchases. ### Expanding Market Opportunities The government is also focused on creating real-world opportunities for companies by encouraging the use of their innovative products in various sectors, including smart cities, environmental governance, and social services. Unicorn Island will serve as a living laboratory, where government departments and businesses can apply these innovations. Each year, the government will release a list of application scenarios in need of new technologies. Companies will also receive financial rewards for successful market expansion, with up to 0,000 available for those that secure significant contracts. Additionally, there is strong support for companies looking to establish branches in Belt and Road Initiative regions. ### Financing the Future: .4 Billion Investment Fund One of the key highlights of the "Island Ten Measures" is the establishment of a .4 billion Unicorn Investment Fund. This fund will invest in companies at various stages of growth, from seed funding to expansion. The district will also encourage local businesses to collaborate with state-owned enterprises to form specialized investment funds, aimed at fostering vertical integration within industry ecosystems. The city will also enhance its financial services by establishing a comprehensive venture capital ecosystem, offering support for debt and equity financing. Unicorn Island companies that issue bonds or other financing instruments will receive subsidies of up to 0,000. ### Building a Unicorn-Friendly Ecosystem The policy also introduces two special awards to encourage rapid growth: the "Hidden Champion Award" and the "Growth Award." The former rewards 10 fast-growing companies with ,000 each, while the latter will offer ,000 to five companies focused on AI, big data, and other cutting-edge fields. To create a long-lasting support system, the city will establish a Unicorn Enterprise Alliance Building, which will serve as the headquarters for unicorn companies on the island. This building will offer dedicated office spaces and specialized services, ensuring a home for unicorns to thrive. This ambitious set of policies signals the city's commitment to becoming a major hub for new economy enterprises, offering a comprehensive package of financial, technical, and operational support to help unicorns flourish.