WUHAN’S East Lake High-Tech Development Zone (EDZ), referred to as the Optics Valley of China, has established a special fund to attract top-tier technology talent from across the globe to initiate projects within the region. Incentives for a single project can reach up to 100 million yuan (US$14 million).

According to a policy document released by the development zone, the fund will concentrate on supporting projects in sixth-generation mobile communication and third-generation semiconductors.

An official statement notes that the initiative is designed to generate a chain effect by “bringing in top-tier talent, forming core teams, and fostering new local industries.”

As outlined in the document, the definition of top-tier talent encompasses recipients of major international scientific awards such as the Nobel Prize and the Turing Award, pioneers in fundamental research and cutting-edge technology exploration, as well as leaders in commercialization projects.

The EDZ will provide funding for these three categories of talent starting from 20 million yuan, with the highest level of support — up to 100 million yuan — reserved for top-tier experts in critically needed fields.

Beyond direct financial backing for projects headed by top talent, the local government will also furnish a package of support. As explained by EDZ official Li Jiang, these measures include housing guarantees, equity investment, and high-end services. He added that the overarching goal is to create a holistic support system to foster their development.

The EDZ is a high-tech industrial cluster centered on optoelectronic information technology, encompassing emerging sectors such as integrated circuits, biomedicine, and artificial intelligence. Its gross domestic product for the first nine months of the year, ending Sept. 30, amounted to 235 billion yuan, reflecting a 6.3% increase from the same period a year earlier.

(SD-Agencies)