The New Chinese Law Allows Researchers Get More equity in State-owned R&D institution
On October 15, the low application rate of scientific and technological results has troubled innovation in research and development institutions for a while. Before 2015, if research team brought their scientific achievements to company, the research team could have about 30% of the equity.The remaining 70% belonged to the state-owned R&D institution where the researchers worked at. Now, in accordance with Law of the People’s Republic of China on the Promotion of Application of Scientific and Technological Achievements, the research team can directly account for 50 percent of the equity. And for people who quitted their job and pursues entrepreneurship, the proportion can be as high as 70 percent. This is a big boost for researchers in R&D institutes. According to incomplete statistics, there are more than 1000 kinds of technology trading markets in China. In 2016, the sales volume of technology contracts in China increased by 15.97% year on year to 1140.7 billion yuan, breaking the 1 trillion yuan mark for the first time. At the same time, the Ministry of Science and Technology has also supported the development of national science and technology application demonstration zones and has explored the experiences and models that can be replicated and promoted in China so as to provide support for national policy formulation. The National Science and Technology Achievements Application Fund set up nine venture capital funds, totaling 17.3 billion yuan.