Recently, ZGC Development Group and its members launched a package of rescue and assistance measures, including rent reduction, reduction of financial fees, and digital-intelligent technology services, to facilitate the resumption of work and product for technological innovation enterprises, of which the rent reduction for SMEs is estimated to be over 200 million yuan.

“The rent reduction gives us confidence to get through the tough times,” said a person in charge of a small firm located in ZGC IC PARK. When the start-up was trying to expand its business, repeated outbreaks in recent months had significant impact on its operations.   

IC PARK recently implemented the policies and requirements of related departments, and planned to reduce the rent for 110 SMEs in the PARK for 6 months, with a total reduction of about 35 million yuan.

Other challenges confronted by these companies include how to ensure efficient work from home, smooth online office processes, quick business approval processes and securing funding on time.

Yuga Peers, a high-tech company engaged in intelligent security monitoring and smart city related business, has recently experienced a financial bail-out race against time.

On May 18, the company submitted a financing guarantee application as the sudden outbreak caused difficulties for the deployment of its projects. ZGC Sci-tech Guarantee used online video conference to interview with enterprise leaders, and provided Yuga Peers with 2-million-yuan financing guarantee through face recognition and online signing. The shortage of funds was resolved in less than a week.

Ivy Culture secured financial rescue through an online service all around the clock too. Ivy Culture was waiting for the upcoming 5-million-yuan IP pledge financing, but the entity handling the IP pledge procedure was located in an epidemic prevention and control zone in Haidian District.  

The team of “IP Financing Scheme”, a project of Beijing IP Operation Management Co., Ltd., promptly became an “online steward”. It managed to get a “privilege”, i.e. granting the loan before completing the IP pledge registration procedures, for Ivy Culture, thus solved the urgent problems and passive situations for it.

It is said that “IP Financing Scheme” have provided service for more than 200 sci-tech SMEs, and the amount of financing has exceeded 1 billion yuan.

“In the future, we’ll make full use of our advantages in integrated services to help enterprises tide over the COVID-19 crisis, further expand domestic and overseas markets, extend the industrial chain and expand development scope,” said a person in charge of ZGC Development Group.