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SIP gives SMTEs potent support in financing for innovations

Date:2022-05-25 10:30:18|Source:|Font Size: AAA

SIP has taken a series of effective measures in recent years to give small and medium-sized technology-based enterprises (SMTEs) a helping hand in raising funds to upgrade their technologies and strengthen their competitiveness in domestic and international markets.

SIP adopted a risk compensation mechanism in 2009 for local authorities to collaborate with financial institutions to provide specialized loans for enterprises. So far, over 20 financial institutions have issued various loans of more than RMB 25 billion to 5,500 applicants.

At the same time, SIP authorities take the initiative to help enterprises understand local financial support policies, know better about various financial products that can be helpful to them, and benefit from them.

http://www.sipac.gov.cn/szgyyq/jsdt/202205/39ebdbc461d047f5862fb4e53063beee/images/3e774ac1186c4320a1123358f6df697e.jpg

SIP Science and Technology Innovation Committee and SIP Enterprise Development Service Center frequently organize various information and training sessions and interact with enterprises to learn about their needs and help fulfill them.

These measures have showed good effect in boosting science and technology innovation in SIP. So far this year, SIP has seen 2,761 enterprises accredited as SMTEs, 108 included in Suzhou’s Key Software Enterprise Library, and four listed at the STAR Market of the Shanghai Stock Exchange.

In the future, SIP plans to enhance support for science and technology innovation based on its participation in a technology-based financial innovation service program run by the Torch High Technology Industry Development Center at the Ministry of Science and Technology of China and the Industrial and Commercial Bank of China.

May 23, 2022

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