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SIP enhances support to business incubators

Over the past one year, SIP has exemplified a series of good practices in boosting the development of local business incubators.

SIP launched in 2014 the policy of encouraging founding of incubators in the area. Now, InnoCorridor, the largest incubator carrier in SIP, boasts 79 maker spaces, co-working spaces and other incubators that hold over 80 events each month in average and have provided potent support to more than 2,000 startups in their early-stage development.

Under such a circumstance, SIP started an incubator registration and evaluation program early 2018, aiming to enhance management of incubators and help them achieve better development. Under the program, six incubators were rated "Professional Incubators" and therefore entitled to receive up to RMB 2 million as subsidy for infrastructure cost and not more than RMB 1 million/year as offset for operational cost. 

Suzhou Daily
December 29, 2018

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