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Preferential Policies for Science and Technology Entrepreneurs

(chinadaily.com.cn)
Updated: 2014-07-04

Wuxi Oriental Silicon Valley Program

1.Hi-tech pioneers can qualify for support funds of up to 5 million yuan ($800,000), for the commercializing of scientific developments and innovation equivalent to the sum of registered physical capital and monetary capital at the time of application for incorporation.

2.Hi-tech inventors and innovators can get up to 2 million yuan in support funds for the commercialization of their scientific developments.

3.Innovative start-ups can qualify for up to 30 million in support funds for the commercialization of their scientific inventions and innovations and each team of a team of no more than eight can qualify for up to 1 million yuan in personnel development assistance.   

Wuxi Funds for Commercialization of Scientific Developments and Innovations

1.Who qualifies: according to the decision on key industries and strategic emerging industries of the 12th Five-year Plan (2011-2015) , the funds cover Wuxi enterprises with talented innovators and entrepreneurs, especially from overseas, engaged in commercializing hi-tech inventions and innovations.

2. Loan interest: This policy applies to enterprises that use bank loans for development. For significant scientific and technological breakthroughs in a government-approved hi-tech project, a proportion of the interest on a bank loan can be reimbursed on a yearly basis, with a maximum of 20 million yuan for each project.

Loss compensation: This involves compensating banks for losses from loans for small to mid-sized enterprises with intellectual property rights, good market prospects, and social benefits for the commercialization of scientific inventions and innovations. Banks that cooperate with the Municipal Technology Bureau and the Municipal Finance Bureau can loan up to 100 million yuan per project in line with local stipulations.