IPR securities issued by Binhu district, Wuxi are approved by the Shanghai Stock Exchange. [Photo/WeChat account: wxbhfb]

Binhu district in Wuxi, East China's Jiangsu province recently announced several new measures to protect intellectual property rights and promote innovation.

The district government had on April 22 received approval from the Shanghai Stock Exchange to issue securities for 79 patents and 19 integrated circuit layout designs in late May. The securities, the first of their kind in Wuxi, are expected to raise 100 million yuan ($14.7 million) in funding for 13 technology companies in Binhu.

The securitization of IPR provides a new way for tech companies, especially micro, small and medium-sized ones, to receive funds. It is less costly and more efficient as companies do not need to gain the approval of banks and guarantee institutions.

Binhu has also launched a campaign to facilitate exchange between companies and the China National Intellectual Property Administration and its agencies so as to speed up the patent examination and approval process.

In addition, IPR services platform 58caibiao.com and Hengqin Intellectual Property Exchange will roll out a program to help companies in Binhu achieve innovation development by making full use of IPR.