Wuxi in East China's Jiangsu province received official approval to build a provincial-level intellectual property service industry cluster development zone with a construction period of three years, the local market supervision bureau said on Dec 15.
According to a three-year plan released by Wuxi to build an intellectual property service industry concentration zone, Wuxi will strive to establish more than 50 intellectual property service organizations, develop five intellectual property operation organizations with annual income exceeding 10 million yuan ($1.57 million), and raise the number of high-value invention patents per 10,000 people to over 25 within three years of provincial government approval.
In addition, a total of 25 high-value cultivation centers focusing on integrated circuits, the internet of things industry and key core technologies will be set up. Thirty high-value patent portfolios with large-scale and logical layouts will be formed to support industrial development and enhance international competitiveness.
The Wuxi Municipal Intellectual Property Service Industry Cluster began operating in Wuxi's Binhu district in September 2020. With the intellectual property protection center at its core, the cluster has become a comprehensive service carrier for the "full chain, multiple categories, one-stop" model and offers public and market services.
Nearly 30 high-end intellectual property service organizations, such as Yogo, Gaohangip, and Cenfo, are doing businesses in the cluster, and the Wuxi Taihu Bay Intellectual Property Equity Investment Fund, with a scale of 200 million yuan, has been established. A financial services alliance was also built to provide small and medium-sized enterprises with over 7.7 billion yuan in intellectual property pledge financing filings since 2020.
