A new blockchain industrial park in Hangzhou, China, hopes to attract talented individuals and start-ups by offering millions of grants.
A policy guide announcing the incentives was released on Thursday through the official account of the Xiong’An fund (named “Grand Shores Fund”) – the main operator of the Blockchain complex, both launched in April. ,
As previously reported by CoinDesk, the $ 1 billion blockchain fund and the dedicated blockchain incubation facility was notable for the amount involved and because the Hangzhou City Government supported the initiative with 30 percent of funding total.
Under the new policy, the Industrial Park, although subject to further revisions, plans to provide up to 3 million yuan ($ 490,000) as a resettlement allowance for qualified individuals with skills. high.
In addition, four major categories of Block Chain Startup Grants are provided to help them build the store in the complex.
For example, the start-up start-up industrial park provides a maximum of $ 230,000 for housing and $ 1 million for research and development funding. Mature blockchain starts can claim $ 480,000 in hosting and $ 780,000 in research and development.
However, it is not yet clear what criteria must be met in order to claim the amounts offered. A representative of the industrial park told CoinDesk that this summer, the organization wants to establish clearer definitions and eligibility criteria for different levels of funding.