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Nanjing Jicui Guangxing Technology Co., LTD. (hereinafter referred to as “Jicui Guangxing”), a technology company that has been established in the industrial technology research and innovation park for a year, has been very busy recently – while multiple orders have been pouring in from the market and product prototypes have been shipped one after another, the phased support funds have also been smoothly received, and a new development step has been taken.
During the development of an enterprise, from a “seed” to a “sapling”, at every critical period, there is a precise drip of financial “living water”. This “fresh water” precisely comes from the “combination of allocation and investment” project jointly promoted by the new district and Jiangsu Institute of Industrial Technology.
Here, there are many vivid stories of giving full play to the local advantage of Jiangsu Institute of Industrial Technology as a “test field”, and making real money to ensure the successful landing of high-quality projects and outstanding talents.
01 Solving Difficult Problems
When “Patience Capital” meets “Hardcore Technology”
University laboratories are the “cradles” of cutting-edge achievements, but how to transform these original and disruptive technological innovations from “0 to 1” into tangible products to enter the market is a widely recognized challenge. One of the difficulties lies in the lack of “patient capital” during the transformation stage. After all, this process often faces problems such as large investment, long cycle and high risk, and few capitals are willing to take the initiative to enter the game and run along at this time. How many cutting-edge scientific and technological achievements have thus been buried in papers, remaining at the prototype stage and unable to truly serve the industry.
To break through this predicament, Jiangsu Institute of Industrial Technology has a brilliant solution – “combining allocation and investment”. This model ingeniously builds a bridge between the “allocation” of scientific research and the “investment” of the market.
How to understand it? Simply put, it is
“Be an angel first, then a shareholder.
For the high-quality hard technology projects that have been identified, in the early stage, local governments and Jiangsu Institute of Industrial Technology act as “angel investors” and provide support in the form of research project funds. The team doesn’t have to worry about initial survival and can focus on tackling key problems without distractions. The funds are allocated according to the research and development milestone nodes, which is both support and motivation.
When the project technology matures and reaches a milestone recognized by the market, and it is necessary to introduce social capital for large-scale industrialization, the “support funds” invested in the early stage will make a stunning transformation and be converted into equity investment based on market value. In this way, government funds not only fulfill their mission of support but also can maintain and increase their value through market-based exits, thereby sustainably supporting the next batch of innovators.
Last July, Jiangbei New Area and Jiangsu Institute of Industrial Technology “tied the knot” and signed a comprehensive and deepened strategic cooperation agreement. On the same day, the first batch of “combined allocation and investment” projects were implemented in the new district.
Among them, the high-power fiber Bragg grating and high-power laser gate products brought by Aoyi Technology have multiple internationally leading indicators, providing a better solution for the development of the industry.
Immediately following, in November, Jicui Guangxing also became a new member of the “combined dialing and investment” family, thanks to its unique technological advantages. Surprisingly, the technical indicators that were originally planned to be completed in two years were successfully achieved by this highly motivated team in just one year. They received the phased “reward” ahead of schedule and thus moved on to the next goal even faster.
02 It’s not just about money
The “mutual pursuit” of talent and sincerity
It is undoubtedly delightful to see the funds arrive and the orders in hand. However, for the new district, the value brought by the “combination of allocation and investment” is far more than just boosting the success of one or two projects.
It is more of a deep “binding” with talents and a sincere “declaration of love”.
Top talents are the source of innovation. When they choose where to take root, they look not only at the immediate research funds, but also at the long-term industrial ecosystem, development space and the sincerity of the city that truly understands them.
The “combined allocation and investment” model precisely demonstrates this sincerity: We not only recognize your technology but are also willing to use innovative mechanisms to accompany you through the most challenging initial stage of entrepreneurship and share your future growth together. This “patience” and “trust” can touch the hearts of scientists and entrepreneurs more than simple subsidies.
To detect these “thousand-mile horses” earlier and more accurately, the new district has also dispatched “pioneer sentry” – staff members like Lin Jialong have been stationed at Jiangsu Institute of Industrial Technology.
“At the Institute of Industry-University-Research Cooperation, there are quite a few on-site specialists like me. Everyone is vying for good projects.” ” Lin Jialong is from the Science and Technology Innovation and Big Data Administration Bureau of the New District. He is well-versed in technology and even more so in the industry.
In his view, his job is somewhat like that of a “talent scout”. Every day, in various seminars, project reports and even chats with colleagues, he keenly “catches” those promising technical talents and teams, and then assesses and connects them at the first moment, thinking about “whether this project is suitable for introduction to the new district”.
This approach of “embedding in the front line and having zero-distance contact” ensures that the new district can accurately grasp the latest industrial trends and extend the reach of investment promotion and talent introduction to the place where innovation was first born.
The new district has demonstrated through its actions the genuine financial support and meticulous service
The best way to retain talents is to fulfill their dreams
Not long ago, the new district once again made significant efforts. In the new policy of “Youth Development, Talent Gathering in the New District” which focuses on fully supporting talents’ innovation and entrepreneurship, the local advantages of the provincial industrial technology research institute have been included. Special support will be provided for the professional research and development office space and equipment procurement of newly established provincial industrial technology research institutes. For individual major innovation projects that are implemented through the “combination of allocation and investment” approach, a maximum of 30 million yuan in financial support will be provided. Support enterprises in jointly establishing enterprise innovation centers with provincial industrial research institutes, and jointly implement scientific and technological research projects. Provide up to 3 million yuan in financial support for individual scientific and technological research projects that meet the conditions.
The sole purpose of writing support sincerity in black and white into policy regulations, further optimizing processes and intensifying efforts is to attract global talents with more powerful policies and abundant resources, and to enable them to settle down here with peace of mind and strive freely.Nowadays, on this fertile land of the new district, the “combination of allocation and investment” has evolved from an innovative institutional design into a vibrant “experimental field”. Up to now, a total of 13 “combination of allocation and investment” projects have been implemented in the new district, ranking among the top in the province in terms of quantity. From “providing funds” to “offering mechanisms”, from “attracting projects” to “cultivating an ecosystem”, Jiangbei New Area is using the key of “combining allocation and investment” to open up a new pattern of deep integration of science and technology, talent and industry.
