The Xihu District of Hangzhou has issued support policies for the metaverse industry, with startups in the metaverse eligible for up to 10 million yuan in funding support

ChainCatcher news, recently, the Xihu District of Hangzhou City issued the "Support Opinions on Building a High Ground for the Metaverse Industry in Xihu District" (hereinafter referred to as the "Opinions"). The "Opinions" increase subsidies for technological innovation in the metaverse from three aspects, enhancing the driving force for industrial development.

According to the "Opinions," for enterprises related to the metaverse industry engaged in the research and development of core underlying technologies such as digital twins, artificial intelligence, augmented reality/virtual reality/mixed reality (AR/VR/MR), and blockchain, a subsidy of up to 30% of the R&D project costs, with a maximum of 2 million yuan for a single project, will be granted upon recognition.

The "Opinions" clarify the support for the construction of characteristic industrial parks (platforms) related to the metaverse. National-level and provincial-level characteristic industrial parks (platforms) that are recognized will receive a one-time reward of 2 million yuan and 1 million yuan, respectively. In addition, "Metaverse+" scene applications in various fields are encouraged, with projects included in national and provincial industry application pilot (demonstration) programs and serving as leading units receiving funding of 500,000 yuan and 300,000 yuan, respectively.

At the same time, the "Opinions" strengthen support for the introduction and cultivation of talent in the metaverse industry. For high-level talents from home and abroad in the metaverse industry who come to Xihu District for innovation and entrepreneurship, a startup funding support of up to 5 million to 10 million yuan will be provided. (Source link)