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12 policies to make Guangdong a big hub for innovation and starting business

2015-June-19       Source: Newsgd.com

On February of 2015, the provincial government issued 12 policies to accelerate the innovation on high technology, which pledges the great determination of Guangdong to lead the trend.

Backgrounder: the 12 policies to accelerate the innovation on high technology

1. Set up funds for boosting R&D activities

Use financial tools to encourage enterprises to increase input on research and development.

2. Set up pilot programs of innovation vouchers

The provincial government releases innovation vouchers for SMEs to encourage them to cooperate with universities and research institutes. These universities and research institutes can use the innovation vouchers to cash with the government.

3. Connect the future buyers with innovative products

Government authorizes the third party to work on long-term demand of the market so the innovators could be connected to their potential buyers with the pattern of government purchase.

4. Establish risk compensation mechanism for high-tech innovation

For high-tech business incubators, the provincial government and the city government jointly give a certain amount of compensation if they were failed by Angel Investment.

5. Set up financial compensation mechanism for high-tech business incubators

For high-tech business incubators that newly-built or expanded, their operation agencies can get compensation from the local city government. Moreover, they can also achieve less than half of the subsidies they got from the city government from the provincial government.

6. Improve the land policies for the construction of high-tech business incubators

The city governments can allocate certain amounts of land for constructing high-tech business incubators based on their overall land planning.

7. Policies for supporting the development of new R&D institutes

The new R&D institutes enjoys the same support as the nation-owned research institutes.

8. Authorize universities and research institutes to dispose technological research achievements

Universities and research institutes can decide the implement, transfer or FDI of the technological research achievements except the projects are related to national security.

9. Improve the motivation mechanism for the commercialization of research achievements for universities and research institutes

Universities and research institutes can own the gains that come from the commercialization of research achievements.

10. Improve the motivation policy for researchers

Universities and research institutes can allocate stocks of the research achievements for researchers.

11. Improve the policy for evaluating the professional title for researchers

The utilization of research and invention will be regarded as an important indicator for researchers in the evaluation for their professional title

12. Guarantee the living standard for talents

All levels of governments in Guangdong can arrange temperate apartments or monetary housing subsidies for talents.

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Editor: Keane Wong

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