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Huge Funds to Foster New Industrial Innovation Cluster in SIP

The upgrading of technological innovation to achieve leapfrog development has been set as the core strategy in building up a new type of industrial park in 2006. At he annual summary and citation conference on scientific and technological innovation on Feb. 9, a number of awards were conferred to acknowledge outstanding contributions to innovation. SIP Venture Investment Co., Ltd. won the "outstanding contribution for technological innovation award", Jingfang Semiconductor and other 9 enterprises won the awards for "top 10 innovation small giants", and Zhongke Semiconductor and other 9 enterprises won "best 10 innovation stars" awards. Wang Jinhua, Deputy Secretary of CPC Suzhou Municipal Committee and Secretary of SIP Party Working Committee, attended the conference and delivered a speech, urging the younger generation of scientific and technological workers in SIP to strive to be "new in 5 respects" in the new year: new measures in innovation input, new breakthroughs in fostering main innovative bases, new achievements in marketing for technological investment, new profiles in carrier functions, and new results in talent building.

In 2006, the policies tended to be more adequate in supporting technological innovation in SIP. The series of policies stipulated in 2006 are mainly geared towards talent service, technological R&D, industrial promotion, scientific and technological service, and IPR protection. As the first "national experimentation industrial park for IPR" in China, SIP enjoys all the preferential policies accorded to national-level hi-tech development zones to encourage the growth of service enterprises of advanced technology. In the meantime, SIP adheres to financial input as a guiding project to build innovative type of industrial park. Last year, the funds to support technological development amounted to 100 million RMB, an increase of 150% over the year before. Besides, the SIP enterprises were given a total fund of 150 million RMB from appropriation of the State, province, and municipality authorities.

In his speech, Wang Jinhua points out that in the new year, SIP will give full play to the superior brand name of China-Singapore cooperation, superior economic development trend, and superior capital strength of the region, and turn them into leapfrog development of technological innovation in building up the most competitive industrial highland and the most vibrant innovative system. As for financial input for innovative system, the government and enterprises will work closely together to expand the means of financing facilities and to ensure a minimum of 300 million RMB for technological innovation in 2007. Major efforts will be made to foster a group of national-level industrial bases, and make sure that hi-tech industrial output value is raised by 3% in the total industrial output. The outsourced software service will be taken as a breakthrough to build SIP into the "No.1 software park in Jiangsu Province" and achieve an annual output value of 8 billion RMB in software service, of which the export of outsourced software will make up USD 200 million. In investment promotion, SIP expects to introduce over 400 projects of innovation types, and the total number of U&D institutions in SIP will exceed 100. To improve the functions of innovation carriers, SIP will reinforce its efforts in pushing forward the construction of creative industry park, the nanotech park, and Sino-Singapore Science Hub, and complete additional 500,000m2 area of technological innovation carriers within the year, while accelerating the pace of construction of the 10-km2 Science & Education Innovation Zone in southern SIP and building it into a "petty Silicon Valley" of innovation as well as a sub-center of urban district for ideal living.

Feb. 10, 2007

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