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The China-Israel Innovation Development Fund, initiated by Zhongguancun Software Park Co and Zhongguancun Development Group, was officially established in Zhongguancun, Beijing Business Today reported on Nov 17.
The development fund of 30 million yuan ($4.9 million) was based on the venture-capital system of Zhongguancun Development Group and also adopted Israel's efficient "angel investment and soft landing service" system.
This relies on policy guidance, financial support and the industrial and professional advantages of China, as well as Israel's international resources, rich experience in innovation incubator management and value-added service ability, aiming to help mature Israeli high-tech achievements enter Chinese markets and be absorbed into the industrial production chain in China.
The fund will effectively integrate China's and Israel's resources and complement advantages from both sides, according to Liu Kefeng, general manager of the Zhongguancun Software Park Co.
The China-Israel Technological Innovation and Cooperation Transfer Center, jointly constructed by the Zhongguancun Software Park Company and Israel Shirat Company, was officially opened on Aug 1, 2012. Along with the center, the development fund will introduce Israel's system of innovation, entrepreneurship and business ventures to support the introduction of technology, the transfer of technological achievements, entrepreneur incubation and industry development in Zhongguancun.
