Seed capital of sci-tech business incubators reaches RMB 23 billion

In recent years, our province has guided and encouraged banks, venture capital and other financial institutions to actively participate in the development of start-up incubators such as those for science and technology businesses with the view to solving the loan and financing difficulties of micro, small and medium-sized sci-tech enterprises.

To implement the initiative of bringing science and technology finance into incubators, 14 events were held focusing on regional leading industries, attracting 255 venture capital institutions, 92 industry experts and 46 other financial service institutions to go into incubators, covering 547 incubators in the province and providing direct service to 2,145 companies. Incubators were encouraged to set up incubation funds or seed capital. At present, science and technology business incubators at or above the provincial level have all set up angel investment funds (capital) by themselves or through cooperation. By the end of last year, the scale of funds under management has reached RMB 23 billion, which has effectively reduced the financial pressure on incubating enterprises. As many as more than 1,200 incubating companies received financing in just last year. Efforts were made to strengthen the publicity and promotion of policies. A service team for science and technology finance was set up to publicize policies for incubators and micro, small and medium-sized science and technology enterprises in the incubators across the province. In the past two years, 19 publicity activities were carried out, training nearly 300 employees and service providers of science and technology finance for incubators.

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