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Multiple Measures Taken to Promote Innovation and Entrepreneurship in Ningbo
2019-06-30Text Size: A A A

Ningbo has taken multiple innovative measures in recent 3 years and has created a quality, efficient and diversified supply system, which spurs high-quality development of small and micro businesses. Enjoying the benefits of a number of measures, small and micro companies have delivered fruit results and come to the forefront in Ningbo, Zhejiang and even China.

Service Vouchers Issued to Boost Small and Micro Businesses

Ever since the launch of service vouchers for innovation and entrepreneurship in Ningbo, there have been over 24,300 relevant transactions which total 239 million yuan, involve 18,000 small and micro businesses and reduce 5883 yuan of direct cost for each of them on average.

Private economy is vibrant in Ningbo, and small and micro companies play a leading role in boosting real economy and promoting high-quality economic growth. In May in 2017, Ningbo took an innovative step of launching service vouchers for innovation and entrepreneurship with the aim of creating an enabling environment to spurring faster and better development of small and micro businesses. All small and micro companies in Ningbo can obtain service vouchers for innovation and entrepreneurship online. With such support for small and micro businesses, Ningbo emerges as the city with the most diverse and largest amount of service vouchers.

It should be noted that the platform for service voucher is similar to that of Taobao, where small and micro companies can confirm orders and draw up and sign contracts and the review and management of services are digitalized.

The initial purpose of launching service vouchers is to cut costs for small and micro businesses in Ningbo. In order to see more companies can benefit from this policy, supply and demand sides are better matched to each other and a market of specialized services designed for small and micro businesses was created through various kinds of training and targeted service.

Ningbo’s service voucher platform is now home to almost 800 service-related products and more than 600 professional institutions, whose services cover 10 categories including human resource services, technological innovation services, intellectual property rights services, entrepreneurship services and information services, which can be further divided into 60 sub-categories. The most popular financial service on this platform has been access 6876 times, and information, market expansion, management consultancy and intellectual property right services 12,000 times.

Apart from reducing burdens for companies, the issue of service vouchers for innovation and entrepreneurship raised the awareness of small and micro businesses in terms of innovation, quality and self-protection, and more of their attention is now directed to technological innovation and industrial design.

Generous Financial Incentives Attracting Ningbo Innovation Projects and Business Startups

The plan spelling out how outstanding innovation and entrepreneurship in Ningbo are rewarded was implemented in November in 2017. According to the plan, successful projects will be win a prize of up to 200,000 yuan and business ventures will enjoy policy support. By launching innovation policies, Ningbo welcomes aspiring talents to start up their businesses and witnesses the growth of many business startups.

Within only one and half years, innovative, inclusive and generous policy incentives designed for outstanding innovation and entrepreneurship projects were formulated and put in place, boosting business startups in Ningbo. So far, more than 1500 innovation and entrepreneurship projects have been attracted to Ningbo and a total of 190 million yuan has been rewarded to them.

Such policy incentives serve as support for those business startups and innovation projects launched and increase employment in Ningbo, which is an important measure to improve Ningbo’s environment for innovation and entrepreneurship. The biggest highlight of these policy incentives is that they encourage business startups and show understanding for failures. If a project fails, Ningbo government will not withdraw the prize that has already been rewarded so as to help more people achieve their dreams.

Eligible projects that have won innovation and entrepreneurship competitions and have been rewarded by more than 500,000 yuan can apply on related online platform for up to 200,000 yuan of reward. This all shows how inclusive and generous such policy incentives are.

These policies will also clear the way for business startups through follow-up service. In addition to the 200,000 yuan reward, businesses can enjoy financial services that suit them better thanks to the cooperation of Ningbo Economic and Information Bureau and other government departments in 2018.

Enjoy timely entrepreneurship and innovation services, 1500 innovation projects and business startups have been launched in Ningbo and fruitful outcomes have been produced. In 2018 alone, the turnover of these projects added up to 8.712 billion yuan, and they applied and authorized 4451 and 2969 intellectual properties respectively.

Service for Small and Micro Businesses Covers Rural Areas

It has become a norm in Ningbo to provide targeted service for businesses. Seizing the momentum of entrepreneurship and innovation of small and micro enterprises, Ningbo is building a public service platform combining one city-level hub, 10 county-level hubs, about 100 service windows and over 100 service institutions.

Companies can ask for help from this platform through their phones, computers and telephones no matter what problems they are confronted with. Knowing what their problems are, the platform will send them to corresponding government departments, coordinate government departments at different levels to produce solutions and oversee the whole process. This way, the voice of businesses can be heard and their needs can be answered to.

Meanwhile, by pooling services of various service institutions together, the platform constructed a channel between companies, government and service institutions and facilitated market connections and transactions. To date, the platform system has organized 2897 service activities of all kinds and the 2785 services available on this platform system have been accessed 800,000 times. In 2018, they have been accessed by 125,000 companies 160,000 times.

Besides improving system, Ningbo launched Ningbo Policy Cloud Platform on 8718 platform in May last year. This platform serves as a search engine where 1800 policy documents, laws and announcements of the three main industries at national, provincial, city and county levels are all available. They can be searched for either by titles, reference numbers and authors or by levels of government, authors and years of publication.

What’s special about this cloud platform is that it greatly facilitates the searching process. For instance, businesses can search for information from 5 perspectives, namely level of policy, author, year of publication, content range and theme. Policy-related information can also be accessed simply by keying in the name of companies. Also, this platform categorizes information of important policies related to small and micro businesses, such as policies for innovation and entrepreneurship, scientific innovation and support for business startups, which further facilitates the searching process.

Technology Resource Market Encourages Investment in Technology

Recently, CCTV news reported how Ningbo pursues high-quality development through technology transfer platforms and the introduction of research institutes.

In this news report which lasted 2 minutes and 40 seconds, Ningbo technology resource market made frequently appearances. With advanced technology from institutes, industries in Ningbo that are in urgent need of upgrading and transformation now share the bright vision of  a booming industrial clusters.

Institutes and businesses are connected to each other on a regular basis to meet the need of medium and small businesses for technological outcomes, which promotes targeted application of technological achievements in businesses. In 2019, Ningbo technology resource market has seen the introduction of nearly 20 technological outcomes in Ningbo companies, which range from new materials to high-end equipment and smart robots and their transactions totaled almost 20 million yuan.

The advantages of technology resource market in Ningbo have been tapped into in recent years and the new model which combines offline demands and online presentation has been deepened, which forges closer connections between businesses and research institutes and facilitates the application of technological outcomes.

To detect the problems of businesses and stimulate investment in technology based on corporate demands are an important step toward the application of technological outcomes. Ningbo has now formed a group of highly skilled and professional technological brokers who can provide services related to technology diagnosis, technology transfer and patent application, which are now paying off.

In 2018, Ningbo technology resource market had visited 5580 companies, provided services to 2352 individuals and organizations, seen 282 cooperation projects of industries, education and research through online and offline model and 200 million worth of technology transactions, 273% higher than 2017.

36,000 Individuals Benefit from Entrepreneurial Exhibition Within 4 Years

Ningbo Talent Market recently has turned into an exhibition of cloth dyed blue with traditional techniques, colorful Ningbo sugar painting and local pineapples. However, it is not an exhibition only about food or cultural and creative products, but a spree for business startups in Ningbo.

This entrepreneurial exhibition lasted for 3 days, attracting more than 200 entrepreneurship projects from over 100 participants, among who most are the young. Apart from displaying products, this entrepreneurial exhibition has a bigger role to play, which is to attract fund, market, talents, policy support and services for business startups.

At least 40 entrepreneurship projects will be on display at a time, which will also appear on the online platform of the exhibition as a way of promotion. What’s more, representatives from banks which will provide loans for startups are invited to the exhibition to introduce their lending policies and provided on-site lending services to address their urgent needs for funds.

When businesses are first started, many of the may seem vibrant and booming, but they don’t have enough knowledge about policy and market trends. Such problems can be tackled with the tailored services provided by the entrepreneurial exhibition based on the stage, demographic, industry of their startups.

The entrepreneurial exhibition kicks off on Saturday in the third week in each month ever since it was initiated in July in 2015 and has become a signature in Ningbo’s support for innovation and entrepreneurship. As of the end of June, Ningbo has held 48 entrepreneurial exhibitions, attracted over 3200 business startups and provided services for about 36,000 individuals.


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