The Chinese government is set to launch a 40 billion Yuen ($6.5 billion) venture capital fund to support emerging industries and start-up tech companies. The scheme is to be funded by the government and private investors.
“The establishment of the state venture capital investment guidance fund, with the focus to support fledging start-ups in emerging industries, is a significant step for the combination of technology and the market, innovations and manufacturing,” said a statement from the country’s state council. “It will also help breed and foster sunrise industries for the future and promote (China’s) economy to evolve towards the medium and high ends.”
Due to an IPO freeze in the region, venture capital investments had dramatically fallen, but the announcement coincides with a recovery during the second half of 2014. Reports suggest the new venture capital fund could be operating within a matter of weeks.
Source: Techspot
In July last year, Netflix officially confirmed that it had ended the option for new…
The free-to-play MMO Albion Online is one of the best games to come out of…
Set the curve with the CORSAIR XENEON FLEX 45WQHD240 OLED Bendable UltraWide Gaming Display, built…
Say hello to the future of graphics, with the MSI GeForce RTX 4090 GAMING X…
This Scan Gamer RTX features the 8GB NVIDIA GeForce RTX 3050 graphics card featuring new…
The MAG series fights alongside gamers in pursuit of honor. With added military-inspired elements in…