(Yicai) June 12 -- Shanghai will give up to CNY10 million (USD1.4 million) subsidies to disruptive technology projects fields such as semiconductors and green energy in the Yangtze River Delta region to advance development, according to a policy document released today.

Early-stage projects can receive subsidies of CNY1 million to CNY2 million (USD140,700 to USD281,400) whereas more advanced projects that are closer to launch can win from CNY5 million to CNY10 million, per the municipal government.

In this case, early-stage means innovations that have passed the stage of basic research before reaching laboratory application, while medium-stage projects can be replicated steadily at labs but have yet to prove their feasibility for commercial success.

The third and highest category is for projects that are already successful in pilot production and their prospects for commercial success are basically confirmed.

The eligible sectors are integrated circuits, intelligent technologies, life science and health, low-carbon energy, high-end equipment, advanced manufacturing, as well as marine science and technology.

The eastern megacity is bolstering cooperation with other economic powerhouses. Late last year, Shanghai established the Shanghai Disruptive Innovation Projects Agency to manage innovation projects and collaborate with the Beijing-Tianjin-Hebei Region and the Guangdong-Hong Kong-Macao Greater Bay Area to advance nationwide application, Yicai learned from a local government department.

The agency has already formed a related investment fund and an incubator, and is working with leading companies to promote the research and development  and industrial production of disruptive technology projects as well as their various applications through market-oriented investment while introducing more user scenarios, thereby forming a complete ecosystem for new technologies.

Editors: Tang Shihua, Emmi Laine