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China Science and Technology Newsletter (No. 22-23)

2014/01/30
 

Special Issue: Technology Business Incubators in China

² Technology Business Incubators in China

² Model Exploration (1): Wuhan Eastlake Hi-tech Innovation Center

² Model Exploration (2): Xi’an Pioneering Park in High-tech Zone

² Model Exploration (3): Technology Business Incubators in Shanghai

² Model Exploration (4): Yangpu Technology Innovation Center

² Model Exploration (5): Tsinghua Pioneering Park in Beijing

Technology Business Incubators in China

As an important part within the policy framework of China’s science and technology, technology business incubators (TBI) have achieved tremendous progress after two decades’ development. With the direction of the State Council and Ministry of Science and Technology (MOST) as well as strong support from the local governments, the incubators have grown into a major policy instrument for commercializing scientific achievements, cultivating enterprises and entrepreneurs, and promoting innovation and entrepreneurship, aiming to build China into an innovative country. The effects and features of technology business incubators are as follows:

1. Nurturing hi-tech enterprises and flagships for emerging industries by encouraging technological innovation and entrepreneurship.

The fundamental role of TBI is to promote technological innovation and entrepreneurship by supporting companies in their early stages of development. According to statistics, over 95% of newly founded technology-based companies in China grow in the incubators and the number of start-ups keeps increasing year-on-year. By the end of 2012, there were 1,239 technology business incubators with over 22,000 service and management staff nationwide, of which 435 were at the national level. The incubators covered a total floor area of over 43 million square meters, holding more than 70,000 incubatees with 1.43 million people in different teams. There were nearly 50,000 incubatees graduated from TBIs, among which over 180 were listed companies.

Through comprehensive incubating services, the incubators provide strong support to start-ups for innovation and entrepreneurship, and have cultivated a large group of hi-tech companies as well as pioneers and flagship enterprises for emerging industries. In 2012, the incubatees obtained 57,515 patent licenses, 14,981 of which were invention patents. About 90% of the incubatees applied for