Hangzhou West Lake District issued support opinions on building a Metaverse industry highland

Hangzhou West Lake District issued the “West Lake District Support Opinions on Building a Metaverse Industry Highland”, which provides “real money” support for promoting the development of future industries represented by the Metaverse industry in West Lake District, helping to build Wensan Digital Life Block into a leading national demonstration digital block, and expanding the popularity and influence of the Metaverse industry in West Lake District. The policies introduced this time increase subsidies for Metaverse technology innovation from three aspects, create a good atmosphere for innovative scientific research, and enhance the source of industrial development. These include subsidies of up to 30% of the technology research and development expenses of R&D projects and up to 2 million yuan for individual projects for enterprises related to the Metaverse industry around 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. In addition, there are many provisions in the new policy that provide preferential treatment and support in this regard. Including clarifying the support for the construction of Metaverse-related characteristic industrial parks (platforms). Designated as a national and provincial characteristic industrial park (platform), a one-time award of 2 million yuan and 1 million yuan for the industrial park (platform). The “Opinions” also strengthens the cultivation and support for talents in the Metaverse industry. Implement the “Talent Plan” in West Lake District, and provide start-up capital support of up to 5 million to 10 million yuan for high-level talents in the Metaverse industry at home and abroad to innovate and start businesses in West Lake District. (CNBC)

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