Enterprises with advanced technology or firms founded by leading talents in Zhangjiagang of Jiangsu province will get an insurance subsidy no more than 100,000 yuan ($16,273) every year starting March 1, 2014.

The fund was founded by the local government to support the development of the technology insurance industry. The insurance products cover technology development, financing, products, safety, property and environmental protection.

The enterprises may get the money in three ways – a subsidy after purchasing insurance, a subsidy for a certain kind of item and a fixed amount subsidy.

Technology enterprises will get rebates based on 50 percent of the insurance cost for technology development and financing; 30 percent on products, safety and environmental protection; and 20 percent on property.

An enterprise will get no more than 100,000 yuan a year.