(Yicai) Sept. 30 -- Shanghai’s Lingang New Area has drawn more than 110 startup teams and over 500 entrepreneurs in just over a month since launching Zero-Bound Cube, a zero-rent startup incubator.

Nearly one-third of the teams have come from outside Shanghai, and another wave of applicants is expected after the National Day holiday, according to Luo Yijun, operations director of the startup space in Lingang Sci-Tech Innovation City.

Launched by Lingang Group, a state-owned industrial park developer, the Zero-Bound Cube is part of a youth entrepreneurship initiative called the Super Individual 288 Action. The program aims to cultivate eight emerging business formats, including hardcore technology and cross-border live streaming, and offers a comprehensive package of support policies such as financing assistance, household registration services, and help with overseas expansion.

The flagship project has introduced two major incentives: zero-rent office space and free housing. Entrepreneurs can access up to 100,000 square meters of office space rent-free for the first three years, followed by leases at half price for the next two. Similarly, 100,000 sqm of residential space is offered with one year of free rent and an option to renew at reduced rates for two more years.

In addition to free space, participating teams are eligible for eight types of policy support, including business subsidies and bottom-line financing guarantees. Resources on offer include entrepreneurial guarantee loans of up to CNY800,000 (USD112,346) and non-repayable grants of up to CNY500,000.

About 80 percent of the projects focus on data processing, cross-border live streaming, and hardcore technology. The rest span areas such as code outsourcing, short drama production, and niche sports events. Team sizes are lean, averaging four to five people.

“We registered on Sept. 3, had the pitch a week later, and then signed the contract directly,” said Wang Xiyu, founder of Lawyers Home, to Yicai. On Oct. 8, the team will move into a 90-sqm rent-free office in the Zero-Bound Cube, along with free accommodation. “A few of us were digital nomads before. Coming to Lingang feels like we’ve finally found a home,” Wang added.

Zero-Bound Cube is one of several incubation platforms in Lingang. Located just a few hundred meters away is D·SPARK, a startup base targeting companies less than 12 months old. It offers up to three years of free incubation, including lifecycle support services such as business coaching, resource matchmaking, and help navigating policies and startup competitions.

Zhang Zhen, deputy general manager at tech cluster Pudong Software Park Huizhi Technology, said D·SPARK has already attracted 14 startups in its first month, including seven in artificial intelligence. Other resident projects cover sectors such as integrated circuits, automotive electronics, and the low-altitude economy.

Going forward, D·SPARK will implement annual reviews of resident startups to optimize the allocation of support and ensure that resources are directed to the ventures with the greatest need, Zhang concluded.

Editor: Emmi Laine