Country for PR: China
Contributor: Xinhua News Agency
Friday, October 27 2017 - 20:34
Community and Fund Launched to Promote Scientific Innovation in Shanghai
SHANGHAI, China, Oct. 27, 2017 /Xinhua-AsiaNet/ --

A network community and an investment fund for promoting scientific innovation 
was set up in Shanghai by several institutes from China and abroad on Thursday.

The community, named Caohejing Global Innovation Network, was set up by 11 
institutes, including Shanghai Caohejing Hi-Tech Park, Council for Promoting 
South-South Cooperation, Network Hesse-China from Germany, Technology Park 
Varazdin from Crotia, KPMG China, Shanghai Institute of Technology, Shanghai 
University and China Citic Bank.

These institutes from different areas and countries will cooperate respectively 
in the fields of Fin-tech, technology transfer, intellectual property 
protection and multi-national communication.

Also an investment fund for promoting scientific innovation was set up by 7 
institutes including Caohejing Hi-Tech Park, Bocom International Trust, China 
Oriental International. It targets to manage 5 billion yuan (751.5 million U.S. 
dollars), with the initial round of fund-raising reaching 500 million yuan. 

The fund will invest in tech firms in the startup and growing stages in the 
sectors such as information technology, bio-medicine, advanced manufacturing 
and new energy.

Shanghai Caohejing Hi-Tech Park is a national hi-tech industrial development 
zone in China, and an APEC international science and technology industrial park 
since 2000. Over 3,600 hi-tech companies from home and abroad are based in the 
park, among them over 800 are invested by foreign capital. 81 of the top 500 
global companies set up 131 hi-tech companies in the park.

SOURCE: Shanghai Caohejing Hi-Tech Park

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   Caption: 2017 Caohejing Science and Innovation Carnival