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English英语译成Chinese汉语: investment promotion policies General field: 商务/金融 Detailed field: 投资/证券
原文文本 - English英语 In general, county and state business development officials, as well as entrepreneurs, indicated that venture funding was available for relatively late-stage companies in the cluster. Regardless of the location of the venture funds, these officials indicated that the funds are attracted to the Maryland cluster by the existing human capital in life sciences. In addition, many local life science firms perform contract work for NIH, providing them with a revenue stream while they undertake R&D activities.
One popular state tax program is an investment tax credit for 50 percent of an eligible investment in an early-stage biotechnology firm, up to $550,000. Firms can apply for this credit at the beginning of the fiscal year. Applicants must meet certain minimum criteria, and then credits are given on a first-come, first-served basis until funds are used. The program is always fully subscribed, although there are some bureaucratic challenges for firms, as they are required to secure all of the targeted investment within 30 days of applying for the credit.
Silicon Valley is characterized by the number of spinoffs it generates. Figure 2.5 compares the estimated number of former employees of major firms and universities who started companies (“employee founders”) and the resulting number of start-ups (“spinoff startups”) from local firms in Silicon Valley, to similar figures from Boston’s Route 128, which is also a high-technology cluster. The estimates are limited to start-ups whose founders were funded by venture capital between 1992 and 2001. Local universities in Silicon Valley and Boston produce similar numbers of start-ups. However, the number of start-ups produced by firm employees, and of firm spinoffs, in Silicon Valley dwarfs the number in Boston. This culture of spinoffs has been present since the formation of the Silicon Valley cluster, as we discuss below.
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