THE Shenzhen Kunpeng Youth Innovation and Entrepreneurship Initiative extended an invitation to young professionals from around the world, offering up to 1 million yuan (US$136,800) in R&D grants to eligible projects.

At the same time, eligible participants will be able to enjoy other incentives, including talent subsidies, office rental discounts, and financial aid. The remarks were made by Zhang Lin, director of the Shenzhen Municipal Science, Technology, and Innovation Bureau, at a promotion meeting during the Guangdong Spring Job Fair held at the National Exhibition and Convention Center (Shanghai) on Sunday.

Shenzhen will invest over 100 million yuan annually to support more than 1,000 reward-based projects and over 100 R&D-funded projects, Zhang said.

Zhang also shared the growth stories of three local companies — XtalPi, Insta360, and DOBOT — that demonstrate Shenzhen’s vibrant ecosystem.

On Sunday afternoon, the bureau signed cooperation agreements with representatives from more than 30 renowned national innovation and entrepreneurship competitions, universities, and venture capital institutions at the Xuhui Campus of Shanghai Jiao Tong University, marking the official launch of the Kunpeng Youth Innovation and Entrepreneurship Partnership Program.

In his speech, Zhao Xin, deputy secretary of the CPC Committee of Shanghai Jiao Tong University, expressed hope for deeper city-university collaboration to build broader platforms for youth innovation and entrepreneurship and to nurture more outstanding talent.

Zhang said Shenzhen has built a sound ecosystem for technological innovation, with R&D investment growing by 18.9% in 2024 — a double-digit increase for the ninth straight year. The city’s number of State-level high-tech firms surpassed 25,000. He encouraged more graduates to pursue their careers in Shenzhen.

Chen Ning, chairman and CEO of Shenzhen Intellifusion Technologies Co. Ltd., inspired youth with his own experiences, urging them to dive into the wave of innovation and entrepreneurship and transform technology into industrial achievements in Shenzhen — a land full of opportunities. (Han Ximin)