Shandong arranges 110 million yuan to help improve the quality of patent application

According to Shandong Provincial Department of Finance, in order to invigorate the innovation of small and medium-sized science and technology-oriented enterprises and academies of scientific research, and to boost the resumption of work and production, this year Shandong has arranged 110 million yuan in intellectual property (patent) funds.

Shandong will grant up to 2,000 yuan and 20,000 yuan respectively for domestically authorized inventions and PCT (Patent Cooperation Treaty) international patent applications; grant sliding scale bonus of up to 500,000 yuan to major patent holders of domestically authorized inventions and major applicants of PCT international patent; grant 500,000 yuan, 200,000 yuan, and 100,000 yuan respectively to winners of gold award, silver award and award of merit of China Patent Award; grant interest discount of up to 500,000 yuan to patent pledge loans that have completed repayment of principal and interest.

With the support of financial funds, up to now, the total number of patents granted for invention, utility model and design in Shandong has reached 96,464, a year-on-year increase of 44.14%; the number of PCT international patent applications was 1,134, a year-on-year increase of 41.04%. As of the end of July, Shandong had 543 patent pledge financing registrations with a total value of 5.73 billion yuan, an increase of 55% and 27% respectively.