Shanxi releases policy on technology innovation vouchers

The Implementation Measures for Provincial Technology Innovation Vouchers came into effect as of May 1 in North China's Shanxi province, with a validity period of five years.

The document, jointly formulated by Shanxi Science and Technology Department and Shanxi Finance Department, aims to reduce the innovation costs of micro, small and medium-sized enterprises, revitalize the province's technological innovation resources, and stimulate the province's innovation and entrepreneurship potential.

The technology innovation voucher refers to a preferential policy tool that provides subsidies to micro, small and medium-sized enterprises for technology innovation service expenses that were incurred from research and development activities. It will be dispersed on an annual basis and can equal to, but not exceed, 50 percent of the actual expenses paid by the enterprise.

The voucher can be applied by enterprises for a wide range of innovation purposes, including purchasing various testing and inspection services, scientific data, biological materials and experimental supplies, data computing services, and technical design services. It can also be used to purchase innovation services, help enterprises based in Jinchuang Valley conduct technical collaborations, and purchase innovation services from high-quality resources. Additionally, the voucher also supports provincial service providers in offering innovation services to enterprises outside the province.