CHINA-S&T: S&T MINISTRY TO CREATE FUND TO PROMOTE SCIENTIFIC BREAKTHROUGHS BY SMES
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The Ministry of Science and Technology (MoST) issued a notice on January 13, on increasing the sci-tech
R&D capabilities of SMEs. Specifically, MoST plans to create a national fund to support research and
development by small- and medium-sized businesses and simplify the admin processes for financial subsidies
and tax rebates. MoST is also keen on ensuring that SMEs can access top-tier sci-tech talent. The plan
encourages institution-affiliated scientists to work for sci-tech enterprises, in exchange for financial and tax
concessions. By 2025, MoST wants to see a minimum of 50,000 sci-tech SMEs producing at least one
product that leverages core technologies, and no less than 6% of capital expenditure going to R&D.
(Comment: The MoST notice indicates an effort to boost S&T capabilities for breakthroughs by tapping into
the entrepreneurial power of smaller players and not just academia and big tech.)
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