Unilever’s global innovation incubator has teamed up with the Shanghai Technology Entreneurship Foundation for Graduates to launch its first platform for young entrepreneurs in China. The Anglo-Dutch FMCG company will invest €1 million a year to support pilot projects, according to a report published by Shanghai Daily.

Named The Unilever China Foundry, the project will seek business proposals in the field of smart technology and marketing. The first batch will be focused on digital anti-counterfeiting technology, smart vending machines, interactive packaging, e-commerce customer service and analysis of consumer behavior and brand preferences.

“Unilever aims to build win-win relationships with start-ups,” said Marijn van Tiggelen, head of Unilever North Asia. “Shanghai has abundant talent resources in research and technology. Unilever’s North Asia headquarter is based in Shanghai, and we built one of Unilever’s six global research and development centers here in 2009. Many of our innovations born in Shanghai have been applied in the global markets. Now we choose to launch the Foundry initiative in Shanghai since we believe Shanghai will develop into an international technology and innovation hub in the near future.”