The Shanghai Yangpu Science and Technology Venture Center will give 5 million yuan worth of subsidies to small hi-tech startup companies to help with training and consulting, Shanghai Daily reported.

It is part of the center's support measures to help the more than 200 registered companies located there to face the economic crisis.

Other measures include the launch of a small credit company at the center and subsidized internships for 1,000 university students in startup companies.

Companies with independent intellectual property rights and high business potential will be given priority in these measures.

The center will pay 50 to 80 percent of companies' fees to consultants who want to develop ties with the center and offer discounts for expert advice about finance, law, patents and other problems they meet in development.

A small credit company with registered capital of 100 million yuan was launched in the center to offer loans to small hi-tech companies. A first group of 12 businesses that have had difficulties getting funding from banks because of their limited size were offered 15.55 million yuan worth of loans.

(Source: China Daily)