To thoroughly implement the innovation-driven development strategy, carry out the spirit of the Fifth Plenary Session of the 19th CPC Central Committee and the “Implementation Opinions of the CPC Hefei Municipal Committee and the Hefei Municipal People’s Government on Building an Innovation Hub with International Influence” (Hefa [2018] No. 18), strengthen the role of enterprises as the main drivers of innovation, promote the aggregation of various innovation factors within enterprises, support high-growth enterprises in continuously expanding and strengthening their operations, and accelerate their development into major sources of innovation, the following policies are hereby formulated.
I. Establishment of a High-Growth Enterprise Cultivation Pool
A high-growth enterprise cultivation pool comprising five tiers—high-growth seed enterprises, potential gazelle enterprises, gazelle enterprises, potential unicorn enterprises, and unicorn enterprises—will be established. Each year, a group of enterprises with strong innovation capabilities, significant development potential, and rapid growth rates will be selected for inclusion in the pool, and dynamic management will be implemented on an annual basis for the enterprises in the pool.
II. Supporting Enterprise R&D and Innovation
High-growth enterprises are encouraged to apply for national and provincial major science and technology projects and for designation as National High-Tech Enterprises. For high-growth enterprises in the pool that meet the criteria for additional tax deductions on R&D expenses (hereinafter referred to as “R&D expenses”), subsidies will be provided under the following conditions:High-growth seed enterprises with R&D expenses accounting for over 30% of annual operating revenue, potential gazelle enterprises with over 15%, and gazelle and unicorn (including potential) enterprises with over 10% will receive subsidies equivalent to 50%, 20%, and 10% of their R&D expenses, respectively. The maximum annual subsidy per enterprise shall not exceed 5 million yuan.
III. Supporting Enterprise Financing
A fiscal risk compensation mechanism will be established, and a "High-Growth Enterprise Cultivation Loan" will be launched. Funds from financial product risk pools will be utilized to support financing for high-growth enterprises, with fiscal subsidies of up to 50% provided for loan guarantee losses.Guarantee companies will charge a premium of 1% per annum of the loan amount, and commercial banks will disburse loans at the LPR rate for the same term. The maximum loan amount per enterprise is 5 million yuan for high-growth seed enterprises, 10 million yuan for potential gazelle and gazelle enterprises, and 20 million yuan for potential unicorn and unicorn enterprises.The government will provide a 1% interest subsidy to commercial banks on the loan amount and a 1% guarantee fee subsidy to guarantee companies.
IV. Leveraging the Role of Guidance Funds
Increase investment by angel investment funds and fully leverage the role of government-led funds such as the Municipal Science and Technology Innovation Investment Fund and the Binhu Science City Investment and Development Fund. Actively collaborate with private capital to provide priority support to eligible high-growth enterprises through direct investment or the establishment of sub-funds. Support private capital in establishing special funds for direct investment in high-growth enterprises.
V. Establishing a Fund Collaboration and Co-investment Platform
Establish a project matching committee and create a shared investment project pool to facilitate the sharing of both funded and pipeline projects. Based on the different tiers to which enterprises belong, coordinate investment efforts and establish a collaborative cultivation system involving co-investment, follow-on investment, and additional investment for projects in the shared pool.
VI. Promoting Improvements in Corporate Management
Form an expert advisory team for the cultivation of high-growth enterprises to provide think tank support for enhancing corporate strategic planning capabilities and standardizing business operations. Offer consulting services to enterprises in areas such as strategic cooperation, business models, human resources, and market planning.
In principle, benefits under this policy may not be duplicated with similar provisions in other municipal-level special policies. This policy is interpreted by the Municipal Science and Technology Bureau, takes effect on April 1, 2021, and remains valid for three years.
