On December 19, the Information Office of the People's Government of Beijing Municipality held a press conference to unveil the Guidelines for Facilitating Innovative Development of Technology Enterprise Incubators in Beijing (hereinafter referred to as the Guidelines). The Guidelines put forward for the first time requirements for enhancing the capacities of entrepreneurship and incubation that align with the city's original innovation resources. The Guidelines also support the Beijing-based incubators to target the global cutting-edge sci-tech fields and to explore new paradigms such as advanced incubation, deep incubation, and patient capital incubation.
More than thirty years after the establishment of the city's first incubator in 1989, Beijing is now home to more than 500 incubators and makerspaces of various kinds, including 106 municipal-level incubators and 71 national-level incubators, which puts Beijing on top of other cities in China in terms of the number of national-level incubators. The amount of the investment funds engaged by incubators exceeds CNY 30 billion, making it the largest in scale nationwide. For the last decade alone, more than 200 listed companies and more than 30 unicorns have been incubated.
The Guidelines consist of five major parts and 18 specific measures, encouraging leading enterprises to develop industrial incubators and cooperate with incubators for the integrated innovation of small, medium and large-sized enterprises. Furthermore, the Guidelines support incubators to set up early funds in conjunction with social capital, encourage the construction of incubators by leveraging patient capital, and drive the collaborative establishment of venture capital funds and innovation platforms involving incubators, accelerators, and distinctive industrial parks for a seamless mechanism that integrates incubation, acceleration, and industrialization.
The Guidelines additionally advocate for a tiered and cohesive entrepreneurship and incubation system to be established by the end of 2027. In this system, the benchmark incubators play demonstrative and leading roles, the incubators of municipal-level technology enterprises serve as backbones, and the incubators of other technology enterprises feature a whole range of functionalities.
(Source: The Beijing News)