In order to help small and medium-sized enterprises solve the financing problems, the Shanxi Provincial Market Supervision Department has strengthened financial support for intellectual property rights in recent years and has actively implemented patent promotion funding projects.

It is understood that the Shanxi Provincial Market Supervision Bureau launched the application for patent pledge loan subsidy projects this year, and received a total of 17 items. After independent declaration, a recommendation from each city, expert review, and public announcement, ten subsidy fund projects have been determined. For the next step, a one-off subsidy will be given to these ten projects.

The Shanxi Provincial Market Supervision Bureau also actively implements patent promotion funding projects to improve the transformation and application of intellectual property rights. As of the end of June this year, the 2020 Provincial Patent Promotion and Implementation Funding (Patent Transformation) program has specifically supported 37 projects, and the project funding of 5.32 million yuan has been lowered. Zhao Feng, director of the Intellectual Property Application Promotion Division of the Shanxi Provincial Market Supervision Bureau, said that the implementation of the patent conversion plan can not only help companies accelerate the conversion and use of high-value patents that have been developed, and then promote products to the market, help companies obtain economic benefits, but also achieve the purpose of encouraging enterprise invention and creation.