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Zhongguancun Development Group launches ‘Golden Seed’ Cultivation Action Plan

Updated: Jul 29, 2020 chinadaily.com.cn Print
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Small, medium and micro technology enterprises are the most indispensable "seed" resources for Zhongguancun's innovation and entrepreneurship ecology.

Those start-ups that show strong development potential in terms of technological level, business model and innovation capabilities in strategic emerging industries can thus be regarded as the "Golden Seeds" of innovation and entrepreneurship.

Zhongguancun Development Group will invest 200 million RMB this year to select the first batch of 483 eligible companies and set up the Golden Seed enterprise investment special fund. It is expected to leverage 500 million RMB of social capital to support their development.

In terms of investment methods, in addition to direct fund investment, there are also pilot equity options in Golden Seed cultivation companies. The options include adopting rent for equity, rent and fee reduction for equity and service for equity (priority options) and other formulations.

Unlike the one-off support of rent and fee reductions equity investment funds are recyclable and closely bind the group to the development of Golden Seed enterprises.

The action plan launched by Zhongguancun Development Group is a comprehensive rescue and cultivation plan.

It aims to establish a "service steward" team, continue to follow up with the development of the Golden Seed enterprises, take the initiative to carry out "one-to-one" services, and customize service packages and cultivation strategies.

The plan will also increase scientific and technological financial innovation services, establish special guarantee products and green approval channels and ensure interfacing with low-cost funds and reduction of corporate guarantee rates. It will go on to research and develop a pilot service model of "leasing+investment+entrusted operation", develop supply chain financial products and expand new financing methods and channels for enterprises.

With regards to connecting professional technology services for enterprises, the plan will open up an online Golden Seed cultivation enterprise information zone, set up a professional science and service platform and a park scene docking application platform and provide policy declaration consulting services. The plan will allow Golden Seed companies to interface with large enterprise resources.

As to helping companies expand domestic and overseas markets and extend the industrial chain, the plan will emphasize the role of the Zhongguancun Forum as a platform for communications, exhibitions and transactions to provide companies with benefits in those areas, help companies expand overseas markets through ZGC Group's domestic and foreign market resources, and provide companies with industrial chain upstream and downstream supply and demand information docking services.

 

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