State Council Encourages Commercialization Of Research
On February 17, the State Council Executive Meeting announced a set of policies designed to support commercialization of technological research achievements and reform of the science and technology administration system. The policies facilitate implementation of the Law on Promoting Commercialization of Science & Technological Achievements.
The policies aim to encourage state-run institutions of research and higher learning to utilize assignment, licensing or investment to transfer technological achievements to enterprises or other organizations. Policy incentives include:
- Authorization to pursue commercialization of technological achievements without approval or registration requirements;
- Permission to retain earnings from commercialization for rewarding research staff and conducting further scientific research;
- Minimum compensation requirements for key researchers;
- Permission for researchers to work part-time for enterprises;
- Inclusion of commercialization outcomes in performance assessments for state research institutions and institutions of higher learning
- Tax incentive policies for national indigenous innovation demo zones
