Beijing government sets up $4.6bn tech innovation fund

Beijing has announced a $4.6bn Beijing Science and Technology Innovation Fund, a group of funds which will invest in a maximum of 100 worldwide funds to support technology innovation.

The funding will be allocated to businesses which are innovating in terms of their technology rather than their business models.

It will focus on 14 sectors of advanced technology, including AI, big data, quantum computing and quantum communication, biotechnology, smart manufacturing, modern agriculture and modern transportation.

See also:

Samsung launches new AI fund, NEXT Q

Blackstone closes first Asian private equity fund at $2.3bn

Guizhou establishes $470mn industrial big data fund

The fund has been invested in by Beijing Government Guidance Fund which contributed $1.8bn. Other investors have included Zhongguancun Development Group, Beijing Capital Technology Development Group, Beijing State-owned Capital Management Center and Beijing E-Town International Investment & Development Co Ltd.

According to China Money Network, other investors included Bank of Beijing, Beijing Rural Commercial Bank, Beijing Science and Technology Innovation Investment Management Ltd and Huaxia Bank.

Share

Featured Articles

Welcome to the New Age of the CISO

HE Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government and Dr Aloysius Cheang, Chief Security Officer Huawei UAE, on the new age of the CISO

Making the UAE the world’s strongest digital fortress

His Excellency Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government, on visionary plans to build the world’s most secure digital society

World Mental Health Day – 10 apps to improve wellbeing

Employers should recognise the growing use of apps to help support mental health – here are 10 to consider on World Mental Health Day

Exec interview: Brook Sims, COO, MAC Diversity Recruiters

Leadership & Strategy

Best new books that will make you a better leader

Leadership & Strategy

5 Mins With: Jeff Li, founder and CEO of Shoplazza

Leadership & Strategy