A strategy document to guide the building of an innovation high ground in the Greater Bay Area -- the first of its kind in the city -- was approved at an executive meeting of the Zhuhai Municipal Government on Aug 8.

Polices & Measures to Spur Scientific & Technological Achievement Transformation & Industrialization plans deepened integration of economic activity, science and technology; accelerated transformation of sci-tech achievements to commercialization; and enhanced effectiveness of innovation-driven development.

The policies and measures encourage colleges and universities, scientific research institutions, and large innovative enterprises to establish market-oriented technology transfer offices. These will handle sci-tech achievement application and promotion as well as criteria research and formulation. Newly recognized national technology transfer demonstration offices will receive a one-off subsidy of 500,000 yuan ($72,965) each.

Technological Innovation Beach in Tangjiawan [Photo courtesy gdvb.com]

Local colleges, universities, and scientific research institutions that establish sci-tech achievement transformation zones using their own facilities or nearby land and architectural resources will be eligible for up to 10 million yuan ($1.5 million) each.

The city government will also push forward construction of a technology trading market and associated online platform. Organizations that take charge of national sci-tech achievement transformation projects will qualify for a subsidy of at least 50 percent of the project fund, which is not to exceed 3 million yuan ($437,790) for each project.

Meanwhile, sci-tech personnel can retain part of the rights and interests in their original companies for five years if they leave that company to start a business. Likewise, university students who suspend study for entrepreneurship may retain student status for five years with the consent of the university.

High-caliber entrepreneurial teams and talents that bring projects, technology, and funds to Zhuhai will be subsidized and given green light treatment when they apply for professional titles.

In terms of intellectual property rights, Zhuhai will conduct patent trend analysis, offer advice and help with navigation, and give more support to patents, inventions, and scientific and technological financing.

Full application and agency fees for the first invention or patent of small and micro businesses will be subsidized. Medium, small, and micro-sized enterprises, colleges and universities, and sci-tech R&D institutions with more than 10 inventions and patents authorized annually and an annual growth rate of over 30 percent will also be subsidized.