First of all, the purpose of innovation fund is to support scientific and technological innovation. The projects supported by the Innovation Fund shall have independent intellectual property rights, requiring significant innovation or substantial improvement in technology, process or product performance, and the technical level shall at least reach the domestic or international advanced level. The second is to encourage scientific and technological entrepreneurship and cultivate scientific and technological entrepreneurs. The Innovation Fund focuses on supporting small and medium-sized scientific and technological enterprises in the initial stage, giving priority to enterprises founded and led by high-quality scientific and technological personnel and returned overseas students, so that with the help of the Innovation Fund, they can start their own businesses by using advanced technologies and high-level technological achievements with independent intellectual property rights. Through the support of innovation funds, we will improve the ability of start-ups to resist early risks and help enterprises tide over the difficult period of development. The third is to promote industrial development. Encourage and support small and medium-sized enterprises to form functional parts research and development and supporting production in accordance with the requirements of specialized division of labor and large-scale production in the industrial chain, and promote the rapid development of regional economy. The fourth is to guide social funds and accelerate the transformation of scientific and technological achievements. The establishment of innovation fund, on the one hand, alleviates the shortage of innovation funds for small and medium-sized scientific and technological enterprises through direct subsidies, on the other hand, attracts and drives governments and financial institutions at all levels to pay more attention to and support the innovation activities of small and medium-sized scientific and technological enterprises, and drives the establishment of an investment and financing system that conforms to the laws of market economy and serves the technological innovation of small and medium-sized scientific and technological enterprises, thus alleviating the financing difficulties of small and medium-sized scientific and technological enterprises. Second, the operating mechanism of the innovation fund The management of the innovation fund adopts the trinity management mode of decision-making supervision by government departments, expert consultation and guidance, and organization and implementation by fund management institutions, that is, the Ministry of Science and Technology and the Ministry of Finance, as government agencies, are responsible for formulating the operating rules of the innovation fund, determining the overall working objectives and policies of the innovation fund, and supervising and guiding the operation, and at the same time having the final approval power of the innovation fund projects; As an advisory body of the Innovation Fund, the Expert Advisory Committee is responsible for deliberating and determining the key areas of the annual support of the Innovation Fund, and providing guidance and suggestions for the management of the Innovation Fund; The Innovation Fund Management Center, as an institution of innovation funds, is responsible for the daily management of innovation funds and the organization and implementation of innovation fund projects, realizing the management characteristics and operation mechanism of close combination of government decision-making and expert consultation, and relative separation, mutual restriction and mutual supervision between decision-making supervision and management implementation. Third, the project evaluation mechanism of innovation fund The evaluation of innovation fund projects adopts the back-to-back evaluation method of experts and enterprises and the evaluation system of competitive selection. Experts are composed of technical experts, industry management experts, investment experts, financial experts and entrepreneurs. The Innovation Fund Management Center specially set up an expert database, strictly followed the principle of having both ability and political integrity to select experts, and implemented dynamic management and strict evaluation system for warehousing experts. The project review process organized by the Innovation Fund Management Center is standardized and there is a mutual supervision mechanism. The evaluation content of innovation fund projects includes both the technical level of the project and the comprehensive strength of the enterprise. The review experts review the application materials of the enterprise according to the evaluation indexes such as enterprise development ability, project technological innovation, project product market, business model, enterprise financial status, rationality of investment budget, feasibility of self-financing and so on. Four. Innovation Fund This year, supporting key innovation funds should continue to adhere to the principles of market orientation, supporting innovation, encouraging entrepreneurship, highlighting key points, standardizing management, and selecting the best through competition, and increase support for small and medium-sized science and technology enterprises, so as to make contributions to the overall victory in coping with the impact of the international financial crisis and accelerating the transformation of economic development mode. 20 10 innovation fund supports projects with strong innovation, high technology content, good market prospects and independent intellectual property rights; Key technologies and key innovative product projects with low resource consumption, great driving effect, many employment opportunities and good comprehensive benefits around strategic emerging industries; Innovative projects that focus on ten key industries and provide advanced technical support and supporting services for technological transformation, industrial upgrading and improving the quality and efficiency of industrial development; Entrepreneurship to promote employment, especially innovative projects of graduate students and master students (including overseas students) in entrepreneurial service institutions such as university science parks and entrepreneurial centers; High-tech service projects with intensive talents, strong technical relevance and high added value, which directly serve social and economic development; Public technical service platform project for innovation activities of small and medium-sized scientific and technological enterprises; Pilot projects of venture capital guiding fund risk subsidies, investment guarantees and phased participation; Projects with certain technical content, strong competitiveness in the international market and export-oriented products; Market transformation projects related to major scientific and technological projects; In line with the requirements of coordinated development of regional economy, combined with the industrial development characteristics and resource advantages of underdeveloped areas in the west, it is suitable for innovative projects in underdeveloped areas in the west. V. The evaluation of various projects of the Innovation Fund focuses on the characteristics of innovation activities of small and medium-sized scientific and technological enterprises and the supporting policies of the Innovation Fund, and the Innovation Fund adopts different types of projects for financial support. The focus of all kinds of project evaluation is: innovation projects: focus on supporting the technological innovation activities of small and medium-sized scientific and technological enterprises in the initial stage of new product research and development, the middle stage of research and development, and the pilot stage of products that are urgently needed by the market and have good innovation. Technological innovation includes the invention of new technologies, the new application of mature technologies and the integrated application of various technologies. For projects in the initial stage of R&D, the focus of project review is on technological innovation, the quality of enterprise leaders and the status of entrepreneurial teams. For the projects in the middle stage of R&D, the focus of project evaluation is the technological innovation of project products, the market of project products, the innovation ability and basic conditions of the project undertaking enterprises. For high-tech service projects, the purpose of support is to improve the core service business level and comprehensive competitiveness of enterprises and promote the rapid growth of high-tech service enterprises by subsidizing technological innovation activities in services. The focus of the project is the technical content of service and the innovation of business model. Subsidy fund project for public technical service institutions of small and medium-sized enterprises: focusing on providing innovative resources and services for small and medium-sized enterprises, providing incubation services for technological entrepreneurship and providing services for technology transfer of small and medium-sized enterprises. Support institutions need to have an open service model, a clear target group, a good service foundation and service capabilities. The purpose of the subsidy fund project for public technical service institutions of small and medium-sized enterprises is to guide and encourage non-profit and public welfare institutions to carry out technical services for small and medium-sized enterprises through funding, so that they can form groups and play the policy guiding role of the central government more effectively. The focus of the examination and approval of subsidy funds for public technical service institutions of small and medium-sized enterprises is the market demand, service ability and service performance of service content.