IPR Financing Models such as Patent Pledge Promoted by State Council
The concept of “mass entrepreneurship and innovation” has taken root in China and become the new impetus of economic development. On July 12, the State Council held an executive meeting to discuss the Opinions on Strengthening the Implementation of Innovation-driven Development Strategy to Further Promote a Deep Development of Mass Entrepreneurship and Innovation (Opinions). The adopted Opinions provides clear directions on how to push forward the initiative.
Since introduced, the above-mentioned plan has witnessed a number of successful entrepreneurship and innovation programs arising from universities, enterprises and scientific and research institutions. The concept has won wide recognition from the public and stimulated innovation enthusiasm.
According to the meeting, deep implementation of innovation-driven development strategy and promotion of mass entrepreneurship and innovation in a wider, higher and deeper manner is of great significance to ensure and enlarge employment, optimize economic structure, replace old growth drivers with new ones and boost the competitiveness of national economy.
In a bid to fulfill and promote the implementation of innovation-driven development strategy, a series of mass entrepreneurship and innovation demonstrative bases have been built up, giving birth to innovation boom. Effective models and experiences arising from the process inject great power into employment enlargement and economic development. It’s noted that new problems arise, e.g., some entrepreneurship and innovation bases or incubators even deceptively obtain subsidies in the name of innovation. Thus, relevant supportive policies need further adjustments.
The Opinions introduces the following five steps so as to create an ecosystem featuring integration, coordination and co-share for entrepreneurship and innovation, achieve sustainable and sound developments and improve entrepreneurship and innovation efficiency.
Innovate government administration
accelerate the incorporation of various information involving business registration into business licenses, build a unified electronic management system for business license, open a single window for domestic and foreign invested enterprises to finish time-limited registration;
cancel pre-issuance of business names and promote self-declaration;
fully carry out simplified cancellation of registration reform for enterprises;
facilitate interprovincial enterprises to access tax payment channels nationwide through various payment means such as mobile banking;
introduce implementation measures for fair competition review;
push forward the establishment of rural entrepreneurship and innovation demonstrative bases and the bases of small and micro enterprises, properly relax market access conditions for such industries as internet education; and
conduct inclusive supervision and regulation on new formats and models.
Optimize services for entrepreneurship and innovation
explore to build a system for the transformation of scientific and technological results in a given period;
simplify the filing procedure for intangible assets such as patents;
set the pricing of agreement, listing and auction;
promote the pilot application of the first set of major technological equipment;
open the access of devices purchased by government funds; and
improve the IPR utilization and coordinated protection system.
Expand financial channels
support local banks to open small and micro branches engaged in providing inclusive financial services;
push forward patent-pledge financing, welcome insurance companies to provide related insurance services, encourage local government to provide risk compensation or premiun subsidies;
steadily expand the bond pilots for entrepreneurship and innovation companies;
advance nationally financed fund to set up VC fund for middle and early- stage or start-up innovative enterprises; and
explore to give political support to VC incubators as per technical and scientific incubators.
Promote industry upgrading
accelerate the establishment of industry internet platform and guide big enterprises to encourage internal innovation, open supply chain resources and market channels, promote the coordinative development of big, small and micro enterprises;
explore to implement more effective measure to advance entrepreneurship and innovation in universities and research institutions;
conduct research of key common technologies and the industrial application;
support technical reformation in key sectors; and
institute a strategy outline for digital economy development.
Strengthen talent support
to improve social insurance and taxation polices to be fit for the new and flexible employment conditions;
make universities and scientific and technological institutions to adopt talent incentive measures;
simplify recruitment procedures for governmental departments to bring in high-level and badly needed talent;
allow foreign students undertaking businesses to apply for resident permissions based on graduation certificates;
implement supporting plans attracting students studying abroad to return for innovation;
apply the supporting policies to those going back to urban areas to carry out entrepreneurship; and
allow peasant workers to enjoy various social insurances in places they are engaged in innovation
(Source: China IPR, Xinhua)