Joint VC fund for new materials formed
Print Edition
A 400 million yuan (US$59 million) venture capital fund was launched yesterday by Shanghai’s Baoshan district government in conjunction with General Electric, Samsung and Sabic to support startup companies set up by expats.
The fund, the city’s first venture capital fund jointly set up by the local government and multinational enterprises, will invest in the development and applications of new materials, especially graphene which is the thinnest material known, the district government said.
The fund seeks to draw global professionals and the world’s leading graphene-related projects to Baoshan to create a major research hub to develop the material that scientists say could transform consumer electronics, said Fan Shaojun, governor of the district.
Baoshan aims to lure at least 10,000 innovative and startup firms by the end of the year to set up in an area along seven stations of Metro Line 1 between Gongkang and Fujin stations.
New materials is one of Shanghai’s strategic areas in its industrial development through 2020, said Xu Ziqi, vice director of Shanghai Economy and Information Technology Development Commission.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
