Henan Province Sets Up USD150 Million Innovation Fund for Entrepreneurs in Emerging Industries
Zhang Xia
DATE:  Oct 31 2017
/ SOURCE:  Yicai
Henan Province Sets Up USD150 Million Innovation Fund for Entrepreneurs in Emerging Industries Henan Province Sets Up USD150 Million Innovation Fund for Entrepreneurs in Emerging Industries

(Yicai Global) Oct. 31 -- Henan province's Department of Finance and Department of Science Technology have teamed up to create the Innovative Entrepreneurship Development Fund for companies in the Zhengluoxin National Independent Innovation Demonstration Zone, state-owned news agency Xinhua reported on Oct. 30.

The first phase of the fund will hold CNY1 billion (USD150 million), CNY300 million of which will be provided by the Henan provincial government.

The fund focuses on strategic emerging industries and key areas of the independent innovation zone, the head of the zone's main office said. It will support the implementation of major projects covering military and civil integration, science and technology and research, and will back the development and growth of leading innovative companies, high-tech enterprises, tech giants and other firms.

Private companies will be a priority for the fund, which hopes to speed up the cultivation of a number of distinctive industrial clusters in the region.

Zhengluoxin is the Chinese phrase used to represent three cities in Henan province: Zhengzhou, Luoyang and Xinxiang.

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Keywords:   Henan,Investment Fund,Entrepreneurship,Emerging Industries