[Photo/southcn.com]

Guangzhou’s special fund for scientific and technological innovation, totaling 17.61 million yuan ($2.75 million), was recently allocated between Guangzhou Medical University, Tianhe district and six other districts, according to the city’s financial authority.

The funds were granted to 56 projects, including 39 hi-tech incubation projects with total value of 11.7 million yuan, mainly to be carried out by industrial parks and incubators.

Ten fund-winning projects run by financial institutions will integrate technologies and finance and the remainder will focus on scientific and technology popularization.

Tianhe has the lion’s share of the projects, 19 of the total, valued at 7.1 million yuan. Huangpu district follows with 18 projects worth 5.8 million yuan.   

Four of the projects are designed for young people from Hong-Kong and Macao special administrative regions.