China’s National Natural Science Foundation (NSFC) has unveiled a groundbreaking fund to support private companies in basic research, marking a significant step in fostering innovation. The Private Enterprise Innovation and Development Joint Fund, announced on Monday, aims to empower private enterprises to actively participate in national scientific endeavors.
Under this new initiative, private companies will pinpoint critical research challenges based on their specific innovation needs. In turn, the joint fund will provide sponsorship for top researchers across the country to tackle these pressing issues.
“We aim to leverage our guiding role by encouraging innovation-driven private enterprises to increase their investment in foundational research,” said NSFC Director Dou Xiankang. “This fund will concentrate China’s leading scientific resources on core issues in key technological fields.”
The fund will focus on both basic and applied research that aligns closely with urgent national economic and social development needs. By promoting deep integration between technological and industrial innovation, the initiative seeks to stimulate private-sector research and inject new momentum into China’s innovation-driven development strategy.
The inaugural partners of the fund are four major pharmaceutical firms: Hengrui Pharmaceuticals, Mindray Bio-Medical, Singclean Medical, and Qilu Pharmaceutical. These companies will collaborate with researchers to advance medical science and push the boundaries of independent innovation.
The NSFC emphasized its goal to maximize the fund’s impact by attracting high-caliber scientific talent from across society. This collective effort is expected to support advancements in the medical field and contribute significantly to the nation’s technological progress.
