The Beijing Economic and Technological Development Area (BDA) continued to invest in special funds for scientific and technological innovation this year to solve corporate research and development problems. 

The scope of enterprises applying for special funds for scientific and technological innovation covered Yizhuang New Town for the first time, with the town's total funding volume exceeding 6 billion yuan ($92.82 million).

In the first project application process, 17 projects passed the preliminary review, with five projects ultimately selected to receive support from the first batch of special funds for scientific and technological innovation this year. 

Recently, at a policy-training meeting about the second batch of projects able to apply for special funds, it was announced that the application scope would be expanded -- with enterprises within a 225-square-kilometer area in Yizhuang New Town able to apply in 2021. The move will benefit more companies.

After companies apply for special funds, the Bureau of Science and Technology Innovation will organize an expert review committee to form preliminary investment recommendations. They will entrust the management agency to propose a preliminary investment plan based on the recommendations and submit it to the investment decision-making committee. 

The BDA Administrative Committee will review and approve the decision based on the decision-making opinions of the committee, then complete the contract and fund allocation process.

Until now, the technology innovation fund has invested in 71 companies. It has completed a capital investment of 528 million yuan to help the rapid growth of innovative firms. 

Among them, six companies have been listed on the stock market, including Jacobio, Golden Spring Internet of Things and Kangleweishi. Also, 80 percent of these enterprises, such as CapitalBio, IDMO and Smart China, have completed a new round of financing. 

Six companies including SinoVision and Jacobio have made breakthroughs in technological research and development and business. Four companies, including Tianling Aviation and Daorida, have launched new entities in the BDA.

The BDA Bureau of Science and Technology Innovation issued the second 2021 BDA Science and Technology Innovation Special Funds Annual Cooperative Enterprise Solicitation Notice on May 28 this year, and the deadline of its solicitation is June 30.

Enterprises applying for special funds for scientific and technological innovation can download the attached "Application Materials for Special Funds for Scientific and Technological Innovation of the BDA" and "Feasibility Study Report," fill them out and send them to the following email addresses: dengluanquan@etowncapital.com and dengdan@etowncapital.com.