CHANGZHOU, China, April
25, 2017 /PRNewswire/ -- Changzhou
National Hi-Tech District, one of China's leading high-tech industrial
development zones located in the Yangtze River Delta, and Shenzhen
Capital Group Co., Ltd., a venture capital firm specializing in
seed, early stage and later stage investments, signed a strategic
cooperation agreement on April 18 to
enhance resource integration and jointly set up a new talent
investment fund.
Under the agreement, the fund, under a program that it has
dubbed the Changzhou Talent Plan, will invest in privately-held
high-growth technology companies and start-ups led by
entrepreneurs with stellar CVs and established track records in
the intelligent manufacturing, energy conservation,
environmental protection and new materials industries, as well as
in other emerging sectors. A key goal of the fund is to enhance the
appeal of Changzhou National Hi-Tech District as a location choice
for entrepreneurial businesses and their owners, with the
expectation that a large number of those businesses will apply for
consideration in the talent plan and choose to settle in the
district. In addition, the two parties plan to explore further
areas of cooperation including assistance that can be offered to
manufacturers in terms of facility upgrades, development and
popularization of a standard for enterprise management policies and
practices, as well as integration of Chinese and international
capital markets, among others.
Over the last few years, Changzhou National Hi-Tech District has
actively sought to promote and execute on its model for bringing
together talent and capital, organizing recruitment teams that have
gone to Beijing, Shanghai and Shenzhen to meet with well-known venture
capital firms and sign strategic cooperation agreements with them,
in a move to bring in projects manned by top talent and backed by
quality capital. To date, the district has brought in roughly 100
projects with the equity venture capital investment in each firm
above 5 million yuan (approx.
US$750,000) and the
cumulative equity investment exceeding 1.5 billion yuan (approx. US$218 million). Looking forward, Changzhou
National Hi-Tech District plans to continue developing its model
for attracting top talents and investments
to promote the optimization and upgrading of local industrial
structure.
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SOURCE The Public Promotion Department of Changzhou Xinbei
District Commission of CCP