In 2025, Shanghai's Lin-gang Special Area launched a "grant-to-investment" pilot program as part of its efforts to foster a supportive ecosystem for innovation and entrepreneurship.

The Innovation Cube Towers in Lin-gang Special Area, Shanghai. [Photo/lingang.gov.cn]

Under the program, Lin-gang has lowered application thresholds and increased the support ratio to 50 percent, providing substantial financial backing for startups.

Applications were submitted for nearly 100 projects, of which 12 were selected, receiving a total of almost 30 million yuan ($4.30 million) in dedicated funding. If a project succeeds, the funding may be converted into equity of up to 10 percent, with a clear exit mechanism in place.

Lin-gang provides professional support to project teams through the use of high-level innovation and technology platforms. Before the project is approved, the platforms help teams refine their R&D and business plans to improve feasibility; after approval, they help teams make full use of public services and find practical applications for their project.

Lin-gang has introduced an innovative mechanism combining government support with venture capital follow-up. Specialized venture capital funds handle subsequent equity conversion and post-investment management, effectively integrating government support with market forces.

To help with expenses, Lin-gang has created affordable startup spaces. The area has also introduced a series of policy initiatives to support talent, while its comprehensive financial support system covers the entire enterprise lifecycle.

The Zero Cube one-stop service center in Lin-gang Special Area. [Photo/WeChat ID: shlgguanweihui]

In addition, Lin-gang has built a strong industrial ecosystem that offers a wide range of real-world applications and market opportunities, helping innovative projects move more quickly from testing to commercialization.