China to set up venture fund for financing startups

Reuters reports on China's statement that the Government will create a venture capital fund to finance start-ups working in advanced industries, the amount of which is estimated at $ 6.5 billion. The State Council of China, in particular, said in a statement: "The establishment of state venture capital fund, which will focus on advanced industries, is an important step for the combination of market and technology, innovation and production. It will also help to educate and nurture a modern industry and prepare it for the future, and further develop the economy [China] ».

The timing has not been named the organization fund, but judging from previous experience, it can be arranged within a few weeks after the publication of the statement on the official website of the government. While the venture capital market in China is low - impact legacy of the planned economy in which private business is experiencing all sorts of restrictions. However, two years ago, the government adopted a strategy, according to which a private business should play a crucial role in the economy. For example, last month was the first insurance companies are allowed to engage in venture investments.

In our country, innovation plan should be focused in the project "Skolkovo". This fund innovative development and at the same time - under construction in Moscow, modern scientific and technological innovation complex for the development and commercialization of new technologies, the first in the post-Soviet era in Russia is being built "from scratch" science city. As part of the fund, there are five clusters corresponding to the five areas of innovation: the cluster of biomedical technologies, energy efficiency technologies cluster, the cluster information and computer technology, the cluster space technologies and telecommunications and the cluster of nuclear technologies. Since 2012, the Fund participates in the financing of various enterprises and gives grants.

Source: geektimes.ru/post/244374/