GDD raises ante for IP development

Guangzhou Development District (GDD) has recently revised the management of its dedicated intellectual property (IP) fund in order to increase levels of support.

According to the new policy, GDD will give a maximum reward of 2 million yuan ($308,800) to high-value patent portfolios annually. Leading IP talents newly introduced to the district will receive a subsidy of 2.5 million yuan.

In addition, a subsidy of between 9,000 and 40,000 yuan will be granted to domestic authorized invention patents that obtain further authorization from the United States, Japan, the United Kingdom, European Union and South Korea based on the Patent Cooperation Treaty.

As of November 2020, GDD has tallied 35,237 patent applications, of which 11,157 are invention patients. Local IP-hypothecated financing capital had reached 2.15 billion yuan as of September 2020, ranking first in Guangzhou.

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