As of now, 29 enterprises in Wenzhou city have totally secured 90.57 million yuan patent-collateralized loans, a new approach to finance for small and medium-sized sci-tech enterprises.
Wenzhou Dongqi Auto Parts Manufacture Co., Ltd. obtained 3 million yuan loans from Dongtou Rural Credit Union with 1 invention patent and 9 utility models. "The loans stepped up the industrialization and market orientation of patented products," said vice president Ye Tiehua, "it not only extends our financing channels, but also promotes a healthy real economy growth."
Since 2009, there have been 29 enterprises applying and obtaining patent-collateralized loans in Wenzhou. The IP pledge financing advances well, accounting for 50% of the whole province. Different from other cities, Wenzhou's pattern is more subject to market rules, which features government assistance, coordination of banks and enterprises and participation of the third parties. In addition, Wenzhou Municipal Finance Bureau allots funds annually to sci-tech SMEs.
Sound policies stimulate innovations. In 2010, Wenzhou recorded 11,411 patent filings and issued 10,553 patents, increasing by 13.8% and 340% respectively.
"Patent-collateralized loans will add 60 million yuan next year, accumulating to 150 million yuan," said Director of the Municipal Finance Bureau Xu Shunchong, "we will make further efforts to strengthen IPR initiative, improve the core competitiveness of enterprises, carry out excellent invention patent incentives, implement 5 patent strategy promotion demonstration projects and cultivate 30 patent demonstration enterprises at or above municipal level in 2012." [Chinese version is available on ezjsr.com]
(Source: IPR in China)
