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Core Points - Shenzhen has officially issued the "Guidelines for Tolerance of Failure in the Field of Technological Innovation" to encourage innovation and allow for the possibility of failure without repercussions [1][2] - The guidelines outline three basic principles, five conditions for due diligence, nine scenarios for exemption, and the procedures for investigation and recognition [2][4] Summary by Sections Guidelines Overview - The guidelines are designed specifically for the research field, providing a framework for recognizing units and individuals who fulfill their responsibilities without facing penalties [1][5] - The document emphasizes that failure is a common aspect of the innovation process and aims to foster a culture of tolerance towards failure [1][6] Conditions and Exemptions - Five conditions for due diligence include alignment with strategic decision-making, adherence to democratic decision-making processes, absence of personal gain, proactive engagement, and willingness to correct mistakes [2][3] - Nine scenarios for exemption cover various situations such as inability to complete projects despite due diligence, failure of high-risk projects, and unforeseen factors affecting project outcomes [3][5] Implementation and Impact - The guidelines apply to all technology innovation activities funded by municipal financial resources, including public institutions and enterprises involved in scientific research [3][5] - The structured approach aims to respect the exploratory nature of scientific research and alleviate concerns regarding the risks associated with innovation [5][6] Broader Context - The issuance of these guidelines aligns with national policies promoting high-quality development in venture capital and innovation, reflecting a growing recognition of the need for a supportive environment for entrepreneurs [7][8]