Action plans to boost local innovation, entrepreneurship

Qingzhen city in Guiyang, Southwest China's Guizhou province, has been doubling down on efforts to create a conducive environment for innovation and entrepreneurship by rolling out specific action plans.

A slew of supporting policy measures will soon be put in place, application requirements for makerspaces will be further identified, and relevant subsidy plans will be specified in detail in order to integrate capital, innovation and services and promote the gathering of talent and industries.

At present, Qingzhen grants each identified municipal incubator a fund of 100,000 yuan ($14,350), and an annual operational subsidy of 50,000 yuan.

Efforts will be made to boost cooperation among governments, colleges and incubators. So far, eight colleges have established 18 incubator bases, which include 85 entrepreneurial teams and 23 enterprises.

The government will also seek opportunities to work with enterprises and banks, and explore new technology finance service models to facilitate the transfer of science and technologies. The Qingzhen government has already established partnerships with four banks, and they have jointly supported seven local firms.