Shenzhen city moves to boost basic R&D investment
Tendency to invest in technologies that can be quickly commercialized, rather than research seen as barrier to long-term growth
Shenzhen city in southeastern China, known as the innovation highland of the country, is attempting to make up for its shortcoming in basic scientific research, Yicai.com reported.
Looking into Shenzhen’s innovation model, the city sports a unique “90%” phenomenon: 90% of innovative entities are local companies; 90% of R&D personnel come from companies; 90% of R&D inputs come from companies; 90% of the patents are generated in enterprises; 90% of the R&D institutions are inside firms; and more than 90% of major technological inventions are also from leading companies.
The problem for Shenzhen enterprises, is that they tend to invest in technologies that can be quickly commercialized, rather than basic research. However, the latter is the driving force for the long-term development of Shenzhen.
Insiders think the lack of resources in universities and research institutes in Shenzhen is one of the reasons for the lack of development. Shenzhen University, founded in 1983, had been the only undergraduate institution until 2010.
Thus, insiders suggest Shenzhen should continue to introduce universities and attract high-end talent.