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High-tech startups aided

THE Shanghai Yangpu Science and Technology Venture Center, the city's answer to Silicon Valley, will give 5 million yuan (US$ 732,493) worth of subsidies to small high-tech startup companies to help with training and consulting, center officials said yesterday.

It's just part of the center's support measures to help the more than 200 registered companies located there deal with the economic crisis.

Others measures include the launch of a small credit company at the center and subsidized internships for 1,000 university students in startup companies.

"Companies with independent intellectual property rights and high business potential will be given priority to these measures," said Yan Mingfeng, the center's deputy manager.

The center will pay 50 to 80 percent of companies' fees to consultants who want to develop ties with the center and offer discounts for expert advice about finance, law, patents and other problems they met in development.

Meanwhile, a small credit company with registered capital of 100 million yuan will be launched in the center on Monday to offer loans to small high-tech companies.

A first group of 12 businesses that have had long-term difficulties getting funding from banks because of their limited size will be offered 15.55 million yuan worth of loans on Monday.


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