广州试点“补改投”改革，两大模式加速科技成果转化落地

Core Viewpoint - Guangzhou's government has introduced a new pilot program for the transformation of scientific and technological achievements, aiming to optimize financial investment methods and promote the conversion of high-quality technology achievements into practical applications through innovative funding models [1][2]. Group 1: New Funding Models - The pilot program establishes two new funding models: "first investment, then equity" and "supplementary investment for award-winning projects" [1][3]. - The "first investment, then equity" model involves initial financial support from the government and partners to help startups with technology validation and product development, converting the initial investment into equity once certain conditions are met [3]. - The "supplementary investment" model transforms 100 million yuan of award subsidies from the Guangzhou Innovation and Entrepreneurship Competition into equity investments for qualifying startups, facilitating their first financing round [4]. Group 2: Mechanism and Implementation - The program aims to address the challenges in the initial stages of technology transformation, creating a "Guangzhou model" that emphasizes the government's role as a partner rather than just a funder [3][5]. - A comprehensive management process is established, detailing responsibilities for various stakeholders, including the municipal technology bureau, finance bureau, and project management institutions [4]. - The program includes a "tolerance for failure" mechanism, allowing for losses in individual projects without penalizing overall performance, thus encouraging investment in early-stage technology ventures [6]. Group 3: Future Plans and Impact - Over the next three years, the municipal technology bureau plans to allocate at least 15% of its innovation development funds annually to support the "supplementary investment" initiatives [6]. - The program is expected to attract more quality innovation resources and capital to Guangzhou, enhancing the local entrepreneurial ecosystem [8]. - The Hong Kong University of Science and Technology (Guangzhou) is a pilot unit for the "first investment, then equity" model, with plans to support entrepreneurial projects in various strategic emerging industries [8][9].