On Monday, the Chinese mainland's National Natural Science Foundation of China (NSFC) unveiled its Private Enterprise Innovation and Development Joint Fund, marking a new push to bring private companies into the heart of foundational research. Under this framework, businesses will pinpoint critical challenges tied to their innovation goals, while the joint fund backs top researchers nationwide to tackle these defined problems.
NSFC Director Dou Xiankang says the initiative aims to leverage the foundation's guiding role by encouraging innovation-driven private enterprises to boost their investment in basic research. Focusing on core issues in key tech fields and urgent national economic needs will promote deep integration between technological breakthroughs and industrial growth, he added.
By concentrating leading scientific talent and resources, the fund targets both basic and applied research closely aligned with strategic priorities—especially in medicine. The inaugural partners are four major pharmaceutical firms: Hengrui Pharmaceuticals, Mindray Bio-Medical, Singclean Medical and Qilu Pharmaceutical.
With broad participation from top scientists and private-sector innovators, the NSFC expects this fund to inject fresh momentum into the Chinese mainland's innovation-driven development strategy, pushing the boundaries of independent research and driving long-term economic and social impact.
Reference(s):
China launches fund to support private companies in basic research
cgtn.com
