Shanghai’s Pudong New Area unveiled a groundbreaking initiative to support young talent in innovation and entrepreneurship at its High-Level Reform and Opening-Up Promotion Conference on April 18.

The new measures it announced, known as Pudong Youth 15, aim to transform Pudong into a premier destination for young innovators from around the world.

Central to this initiative is the "Two 1-Million" measure, which means offering 1 million square meters each of low-rent youth apartments and startup spaces.

Addressing the high costs of living and entrepreneurship, Pudong will provide over 1 million square meters of low-rent startup incubation space and an equivalent area of affordable youth housing.

New technology projects led by young entrepreneurs can benefit from a daily rent of no more than 1 yuan ($0.14) per square meter for up to three years.

Meanwhile, young professionals with a bachelor's degree or higher from prestigious universities, who have graduated within the last three years and work in key industries in Pudong, can enjoy housing rent capped at 2,000 yuan per month for up to three years.

The Pudong Youth 15 encompasses five key areas: providing "first stop" services, focusing on young scientific talent, supporting entrepreneurial development, creating a high-quality living environment, and offering convenient services.

For those embarking on their innovation journey, the Pudong International Talent Station will offer free short-term accommodation and up to six months of free transitional startup space, along with policy consultations, investment matchmaking, city experiences, and community activities.

Additionally, Pudong's Youth Talent Express will connect students and recent graduates from top universities with major employers in the area, with plans to host over 300 recruitment events annually and offer more than 100,000 job opportunities and 10,000 internships.

To attract young scientific minds, Pudong will enhance support for young doctoral graduates. Those with STEM (science, technology, engineering, or mathematics) degrees from top universities who begin working in Pudong within two years of graduation can receive a one-time housing grant of 100,000 yuan.

Full-time postdoctoral researchers will also benefit from comprehensive support. The Pearl Project will continue to bolster the selection of top young talents, offering up to 700,000 yuan in personal and team grants and a project subsidy of up to 100 million yuan for those in peak projects.

Beyond affordable startup spaces, Pudong is offering a range of entrepreneurial support services, including business registration, investment matchmaking, and recruitment assistance.

Projects selected for the Pearl Project or the Zhangjiang Science City high-growth youth innovation projects can receive startup subsidies. Additional support includes technological innovation vouchers, fast-track patent examination channels, and various investment options, along with youth entrepreneurship camps and competitions.

Aiming to meet the residential needs of young talent, Pudong will not only provide low-rent youth apartments but also offer rental subsidies to critically needed and high-level talent in key units. More than 20 youth communities will be developed, integrating living, training, entrepreneurship, and networking functions, and enhancing shared spaces and cultural facilities.

The Pudong Youth 15 emphasizes providing high-quality, convenient services. Through the Pudong Pearl Online platform, one-stop services are now accessible via a WeChat mini-program. This platform allows young talent to apply for various resources and services, including talent stations, internships, jobs, youth apartments, startup spaces, and networking activities, all designed to be user-friendly and accessible. Young talent can also get support in residency and entry-exit processes.

As part of Shanghai's strategic plan to become a high-level talent hub, Pudong is emerging as a leading area for global talent development. Its talent pool now has over 2 million personnel, including 400,000 in the leading industries, 350,000 in finance, and 230,000 in shipping.

The launch of the Pudong Youth 15 extends an open invitation to outstanding young talent worldwide, reinforcing the call "Welcome to Pudong, and get your talent discovered by the world". Pudong aims to enrich itself through talent, and in turn, make talent shine brighter.