The Lin-gang Special Area qualifier for the 6th Shanghai Global Talents Innovation & Entrepreneurship Competition was launched on June 24.

The Lin-gang qualifier for the 6th Shanghai Global Talents Innovation & Entrepreneurship Competition is held on June 24. [Photo/WeChat ID: shlgguanweihui]

Since applications opened, the event has attracted strong global interest. Following the eligibility review, 109 high-caliber projects have advanced to the Lin-gang qualifier and will compete in roadshows tailored to different stages of growth.

At the launch ceremony, officials from the Lin-gang Special Area Administrative Committee outlined the area's comprehensive support policies for innovation and entrepreneurship. 

One example is an innovative grant-to-equity funding mechanism that supports seed and early-stage ventures through the most challenging phase of commercialization. It provides upfront R&D grants, which will be converted into equity once the projects reach commercial viability.

Meanwhile, Lin-gang boasts 12 new support measures covering housing, office areas, skills training, scientific research, and beyond, creating a more enabling environment for innovators to focus on developing technologies and scaling their businesses.