Key Foshan event sees boom in partnerships

Yu Qiguang, deputy general manager of Foshan Linzhi Polymer Materials Science and Technology Co, lifted a bowling ball up high and smashed it down hard onto a cushion on the ground made with his company's shock-absorbing technology.

The impact made a slight sound and caused just a little shake of the floor.

The scene attracted many visitors and investors at the seventh China Guangdong Intellectual Property Financing Projects Matchmaking Campaign, held in Foshan, Guangdong province on Tuesday.

"We spent six years developing the buffer material, which can be used for sports protection, clothing, bullet-proof gear, aviation and shock and noise absorption in submarines," said Yu, who expected the product to generate annual revenue of 50 million yuan ($7.6 million) when commercialized.

The company signed an agreement with local investor Kaiding Investment Co.

Kaiding executives said it was the first project they decided to fund in Foshan, and they would help Linzhi to link up with various resources, in addition to providing financial support.

This year, the event attracted more than 380 projects seeking investors, as well as many banks, investment institutions, industrial parks and manufacturing companies. Projects worth 525 million yuan found investors at the event, and contracts with a combined value of 265 million yuan were signed that day.

"The annual matchmaking campaign has become an exhibition and promotion platform for Guangdong province's excellent IP projects and civil-military integration projects," said Xie Hong, deputy chief of the provincial IP office.

"The platform will also help the industrialization of such projects by bridging innovation achievements and capital."

A total of 56 projects found partners and investors in the previous six events, with a total contract value of 839 million yuan.

Civil-military integration projects were a highlight at the event, where a number of civil-use projects borrowing former military technologies were showcased.

"Great changes have taken place in the field of IP in national defense," said Wang Lidong, director of the patent center at China North Industries Group.

In October 2016, China unveiled the first group of declassified military patents, and more patents were added to the list in March.

Meanwhile, growing numbers of private companies, universities and research institutes have become applicants and owners of military patents, Wang said.

A promotion center for the industrialization of national defense technology was founded in Foshan in August, aiming to coordinate the development of civil and military technical innovation - and to build a national demonstration mechanism for the integration of the civil-military industries.

zhangzhao@chinadaily.com.cn

(China Daily 12/28/2017 page17)