The first state-owned public welfare foundation for basic research has arrived.

On August 4th, Shanghai issued the "Several Measures of Shanghai Municipality to Support Enterprises in Strengthening Basic Research and Enhancing New Drivers of High - quality Development" (hereinafter referred to as the "Several Measures"). The "Several Measures" consist of nine items in three aspects, focusing on strengthening the principal position of enterprises in scientific and technological innovation and the innovation source - generating function. The aim is to strengthen the guarantee for basic research in terms of financial subsidies, fund matching, and tax incentives, so as to enhance the motivation and enthusiasm of enterprises and social forces to invest in basic research, and provide solid support for enhancing the scientific and technological innovation source - generating function and high - end industrial leading function of Shanghai as an international science and innovation center.

Maximum Financial Subsidy of 10 million yuan

The large investment, long cycle, and high risk of basic research used to deter many enterprises.

Internationally, the funding sources for basic research in major innovative countries and regions are more diverse, coming from the government, enterprises, and society. In Shanghai, there is still much room for improvement in the proportion of enterprises' basic research expenditure in the total social basic research expenditure.

To encourage enterprises to increase their investment in basic research, the "Several Measures" clarify that enterprises with an annual basic research investment of 100 million yuan or more will receive a one - time financial subsidy of 10 million yuan; those with an annual investment of 50 million to 100 million yuan (excluding 100 million yuan) will receive a one - time financial subsidy of 5 million yuan; and those with an annual investment of 10 million to 50 million yuan (excluding 50 million yuan) will receive a one - time financial subsidy of 2 million yuan.

Establishing a public welfare fund by enterprises is also an important way to invest in basic research. The "Several Measures" propose to support enterprises in establishing or donating to basic research public welfare funds. For basic research projects supported in Shanghai by basic research public welfare foundations established by enterprises and social forces, 50% of the foundation's investment will be jointly supported.

The State - owned Assets Foundation Has Arrived

To guide enterprises to improve their layout and incubation capabilities in the 0 - 1 stage of scientific and technological innovation, break the gap between basic research and industrial application, strengthen the multi - path exploration of frontier technologies and high - risk projects, and increase the supply of cross - integrated and disruptive technologies, Shanghai's state - owned assets sector is also taking action.

According to Chen Dong, the deputy director of the Shanghai State - owned Assets Supervision and Administration Commission, the Shanghai Qiyuan State - owned Assets Innovation and Source - generating Public Welfare Foundation (Qiyuan Innovation and Source - generating Foundation) has been established by the Shanghai SASAC. As the first basic research public welfare foundation in the national state - owned assets system, it is under the supervision of the Shanghai SASAC, jointly initiated by 16 municipal - level state - owned enterprises through donations, and specifically funds basic, forward - looking, and disruptive basic research, applied basic research, and related transformations, with a focus on supporting young people to carry out high - risk, high - value basic research and concept verification.

The Qiyuan Innovation and Source - generating Foundation focuses on four aspects: Firstly, tackling "bottleneck" problems, closely following national strategic needs and Shanghai's three leading industries, and mainly supporting innovative projects with disruptive potential in fields such as chips and general large models.

Secondly, exploring the "uncharted territory", focusing on frontier basic disciplines and cross - integrated fields such as quantum technology, controlled nuclear fusion, and brain science, and supporting a number of projects with strong innovation, high controversy, high risk, and no consensus.

Thirdly, connecting the "transformation chain", linking various resources such as innovation scenarios, incubators, and industrial funds, gathering R & D forces such as scientists, new R & D institutions, and universities and research institutes, and bridging the last mile from the "laboratory" to the "industrial end".

Fourthly, cultivating the "new force", mainly supporting young talents with the most innovative vitality, strengthening early - stage funding for young talents, and using public welfare forces to provide a "safety net" for scientific and technological talents.

Chen Dong said that in the future, the foundation will transform enterprises' "innovation pain points" into "funding lists", "public welfare investment" into "industrial value", and "single - point breakthroughs" into "ecosystem co - construction" through industry - university - research linkages, cross - resource integration, and open - tendering methods.

The "Explorer Plan" Attracts More Market Entities to Invest

To better cooperate with the implementation of the "Several Measures", the "Administrative Measures for the Shanghai Basic Research 'Explorer Plan'", organized and implemented by the Shanghai Municipal Science and Technology Commission (MSTC), was also released today as a supporting policy, giving full play to the guiding role of the government and attracting more leading technology enterprises to participate.

In 2021, the MSTC explored the establishment of the basic research "Explorer Plan". The main purpose is to actively play the roles of enterprises as "question - setters", "answer - givers", and "markers", transform the engineering needs and problems faced by the industrial circle into basic scientific problems, seek solutions from the scientific community such as universities and research institutes, and promote the integration of industrial needs and basic research.

The funds for the "Explorer Plan" consist of financial funds and contributions from joint funders, and are mainly used to fund projects under the "Explorer Plan". Currently, the number of cooperating enterprises in this plan has increased from the initial 2 to 22, covering multiple fields such as integrated circuits, biomedicine, information, aviation, and advanced materials.

Shanghai Nuclear Engineering Research and Design Institute Co., Ltd. is one of the first batch of cooperating enterprises in the "Explorer Plan". As one of the top three enterprises in Shanghai's science and technology service industry in terms of revenue, the institute has continuously increased its R & D investment. In the past three years, the proportion of basic research investment in the total R & D investment has remained stable at over 20%. Among the 820 million yuan of R & D funds last year, 180 million yuan was invested in basic research.

When interviewed by media such as Venture Capital Daily, Yan Yan, the company's chairman, said that when building the third - generation nuclear power technology model "Guohe No. 1" with complete independent intellectual property rights and reaching the world - advanced level, the company jointly established the "National Key Laboratory for Key Nuclear Power Materials" with Shanghai University and other Shanghai - based research institutions. Through this platform, basic research is deeply integrated with engineering needs to solve the most cutting - edge and urgent scientific problems in the field of nuclear power materials, thereby enhancing the original innovation ability in the field of nuclear energy.

Through the "Explorer Plan", enterprises focus on key R & D issues, put forward requirements, and guide excellent local Shanghai research teams to carry out goal - oriented basic research. The model of "demand - driven, enterprise - led, and collaborative research" enables enterprises' needs and university research to "meet each other halfway and achieve mutual success", effectively promoting the transformation of local research advantages to serve national strategies.

According to Qu Wei, the deputy director of the MSTC, basic research is strengthened through financial subsidies, fund matching, and tax incentives, providing enterprises with "fish".

At the same time, by giving enterprises greater decision - making power in basic research, supporting enterprises to use the shared service of scientific instruments and facilities, and supporting enterprises to improve the assessment and evaluation system, enterprises are further taught "how to fish", encouraging them to focus on long - term development and whole - heartedly engage in innovation and entrepreneurship, and fully consolidate the foundation for new drivers of high - quality development.

This article is from the WeChat public account "Venture Capital Daily", author: Zhang Yangyang, published by 36Kr with permission.