Wuhan issues policies to spur innovation

The Wuhan government on July 14 issued a package of policies to bolster innovation. 

The city will renew its efforts to build national laboratories and establish basic scientific facilities and encourages enterprises to take the lead in establishing industry-university-research-application innovative consortiums and undertaking national sci-tech projects.

Newly approved or restructured national key labs will receive 10 million yuan ($1.49 million) in funds. Enterprises that have been identified as high-tech firms for the first time will be granted an allowance of 300,000 yuan over the next three years. Enterprises that have signed contracts worth more than 500,000 yuan for technology development or commercialization will receive a subsidy of 10 percent of their contract amount, with the maximum subsidy being 1 million yuan. 

Wuhan will also strengthen its construction of pilot-scale experiment platforms, technology commercialization platforms and new research institutes. Existing pilot-scale experiment platforms recommended by the district government will be granted a subsidy worth 30 percent of its investment, but no more than 20 million yuan. 

Top scientific talent agreeing to work and live in Wuhan will enjoy customized preferential policies based on their practical demands and needs. 

Possible damages caused by innovation due to incorrect judgement on investments or errors in experiments will be tolerated to a large extent to create a more supportive environment.