Deals
Tsinghua to Start R&D Fund, 1,000 Incubators in Innovation Push
- Company to invest over 50 billion yuan in reseach by 2021
- Firm to cultivate 500 startups in five years, chairman says
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Tsinghua Holdings will invest no less than 50 billion yuan ($7.6 billion) in research over five years and set up a fund to help commercialize scientific discoveries, Chairman Xu Jinghong said in an interview.
The company, a state-owned enterprise that was founded in 2003 by Chinese president Xi Jinping’s alma mater, Tsinghua University, kicked off two projects on Sunday. One focuses on helping startups and the other on commercializing scientific findings, Xu said at the World Economic Forum in Tianjin.