Zhengzhou Municipal Government Establishes a 10 Billion Yuan Metaverse Industry Development Special Fund

According to Henan Daily, Zhengzhou Municipal Government has released the “Zhengzhou City Metaverse Industry Development Policies,” providing tangible financial support for the development of the metaverse industry.

Zhengzhou has detailed over 10 policy measures. Among them, leading metaverse enterprises that move their headquarters to Zhengzhou or establish regional headquarters in the city will receive up to 200 million yuan in start-up funds and “move-in-ready” office support. The city will organize and implement major technological special projects, with each projects receiving financial subsidies of no less than 10 million yuan. For the “Open Competition for Leadership” R&D special projects, a subsidy of up to 50% of the actual payment amount for individual projects will be provided, capped at 5 million yuan. For independently built metaverse scenario applications by enterprises and institutions, those recognized at the city level will receive a one-time subsidy of up to 5 million yuan, equivalent to 30% of the individual scenario’s actual investment, with no more than 20 typical scenarios being recognized annually.

Zhengzhou is focused on enhancing the public service capacity of the metaverse industry. It aims to strengthen talent cultivation and attraction in the metaverse sector, offering up to 20 million yuan in project subsidies for high-end entrepreneurial teams, 5 million yuan for leading entrepreneurial teams, and 3 million yuan for innovative leadership teams. They are also emphasizing financial support for the development of the metaverse industry by setting up a special fund with a total scale of 10 billion yuan for metaverse industry development. In partnership with national ministries, provincial financial departments, and social investment institutions, they are also establishing a 50 billion yuan special fund to support the growth of the metaverse industry. The city encourages metaverse companies to go public, offering a one-time reward of 20 million yuan for companies listed on the main board.