In Shanghai's ever-evolving landscape, the Lin-gang Special Area has emerged as a beacon for a new generation of entrepreneurs.

A panoramic view of Dishui Lake in Lin-gang Special Area. [Photo/lingang.gov.cn]

According to the strategy of Lin-gang to build a sci-tech innovation city, which was unveiled by the special area's administration on Aug 21, the special area aims to become a pivotal hub for technological innovation, emerging industries, and new business models, while providing an ideal environment for youth entrepreneurship. It aims to offer over 300,000 square meters of low-cost innovation and entrepreneurship space within five years, with a focus on developing a vibrant sci-tech community.

The concept of low-cost entrepreneurship in Shanghai might seem implausible, given the city's high living costs. However, Lin-gang is turning this into a reality. With concrete policies unveiled, Lin-gang is removing traditional barriers to entrepreneurship such as office space and housing costs, providing the young entrepreneurs with three years of free office space, a year of free rent in talent apartments, and significant financial support including loans and grants.

This strategic investment is not charity but a calculated move in the race for future industries, as Lin-gang is planting the seeds for a robust economic future, focusing on five "golden tracks" that include cross-border data, intelligent networking, software information, digital culture, and livestream marketing. These tracks are supported by real business demand, with 18 leading enterprises already involved.

The International Data Economic Industrial Park in Lin-gang Special Area. [Photo/lingang.gov.cn]

As part of a broader strategy, Lin-gang aims to create over 10 super tech communities and open 100 real business scenarios and attract 10,000 top digital talent by 2028. This is not merely about attracting businesses but investing in human creativity and innovation.

Lin-gang's approach is complemented by its synergy with Shanghai's broader policies. While Shanghai rolled out policy support to invite content creators and internet influencers to settle in the city, Lin-gang offers a comprehensive supporting system for thriving development of digital economy talents.

Data reveals that Lin-gang has attracted approximately 14,100 talents in the past few years, with its population growing to 590,000.

In addition to financial incentives, Lin-gang offers a thriving industrial ecosystem. Its sectors, such as integrated circuits, new energy vehicles, artificial intelligence, aerospace and aviation and advanced equipment, boast strong industrial chains, with companies like Tesla and SMIC acting as "leaders" in the industrial chain that drive the growth of related businesses.

Tesla Shanghai Gigafactory in Lin-gang Special Area. [Photo/lingang.gov.cn]

Moreover, Lin-gang's institutional innovations have enhanced its appeal. Breakthroughs in cross-border data flow significantly improve business efficiency and competitiveness.

Lin-gang's vision extends beyond economic growth. It aims to create a community where work and life seamlessly integrate, offering a "15-minute living circle" in which residents have access to all their daily needs within a short walk.

As Lin-gang continues to develop, it is reshaping Shanghai's urban landscape, proving that in a megacity, one can pursue both dreams and a high quality of life. With plans to provide at least 150,000 jobs and attract over 50,000 sci-tech talents in the next three years, Lin-gang is setting a new standard for urban development and innovation in China.