The government of Chengdu, the provincial capital, has set up a 300 million yuan fund to help local start-up companies.

Any company that holds intellectual property rights, is innovative, capable, and has market potential is eligible for funding. Companies and guarantors that provide financial services to start-ups have access to this preferential treatment.

The funds can be used for equity, financial assurance, or as a subsidy and companies can apply for as much as 3 million yuan, according to local authorities.

(Source: China Daily)