This year, Zhangjiagang, a county-level city of Suzhou, has established a government-bank-enterprise collaboration platform to assist companies in securing development funds through intellectual property pledge financing.
The city offers IP-related services to empower enterprises' growth, including policy briefings, financing matchmaking, and rights protection assistance.
In the first half of this year, Zhangjiagang secured total financing of 1.4 billion yuan ($197.29 million) and documented 101 IP pledge financing registrations. This marks an 83.6 percent year-on-year increase, benefiting 95 tech enterprises. Notably, 75 loans are under 10 million yuan, accounting for 74.3 percent of the total, highlighting its support for small and medium-sized enterprises.
Zhejiang Tailong Commercial Bank's Zhangjiagang branch has introduced a zero-cost self-assessment model for IP pledge financing, significantly improving evaluation efficiency and addressing the urgent financing needs of tech SMEs.
Branch manager Yang Lin said that the bank has completed nearly 23 million yuan in IP pledge financing and plans to conduct around 40 more, with an expected total financing scale of 50 million yuan this year.
Local entrepreneurs conduct IP pledge financing in the Zhangjiagang branch of Zhejiang Tailong Commercial Bank. [Photo/WeChat account: zhangjiagangfabu365]
Jiangsu Gulyu Technology, a provincial high-tech enterprise with products widely used in new energy vehicles and energy storage sectors, is one of the beneficiaries of the measure. Wang Xiaogang, the company's general manager, highlights that the measure has resolved the financing difficulties faced by tech enterprises that lack physical assets like factories or land.
This year, the company secured a loan of 15 million yuan by pledging two patents. The funds will be invested in equipment procurement, research, and development to expand capacity and market presence. The company is expected to achieve annual sales of 500 million yuan within three years.