Intellectual Property Fund to Promote Innovation
Beijing key industries intellectual property management fund was inaugurated in Beijing Economic-Technological Development Area or E-town on Dec 31.
The fund is China¨s largest intellectual property fund and the first to be jointly funded by central and local finances. It will be operated in the form of limited partnership with 1 billion yuan ($151.9 million).
The fund¨s first tranche will focus on enterprises with core patents or high-valued patent portfolio in the Internet and biomedicine industries, particularly the start-ups and enterprises at growth stage, as well as the intellectual property management organizations with distinctive industrial backgrounds.
As China¨s first key industries intellectual property management fund, the fund is expected to play a role different from traditional development funds, highlighting intellectual property in industry development. E-town will take this opportunity to cultivate intellectual property and improve market competitiveness in the key industries, according to the fund¨s press conference.