Fujian Province Launches Government Guidance Fund for Biology and New Medicine

on February 1, , the government-
led fund for the first biological and new medicine
sinatted by the government in , Fujian Province, , launched its at fuzhou The Fund comprised 300 million yuan jointly funded by the National Development and Reform Commission , the Fujian provincial Science and Technology Department and four enterprises, focusing on supporting innovative enterprises bio
and medicine in the initial stage Zhou Shiju, a member of the Party Group and deputy director of the Fujian Provincial Science and Technology Department, attended the ceremony for the and delivered a speech Zhou pointed out that the establishment of a new industrial venture capital guide fund in Fujian Province will focus on supporting innovative biological and pharmaceutical enterprises in the initial stage, which is of great significance for promoting technology and market integration, innovation and industrial docking, incubating and nurturing future-oriented emerging industries, and promoting the economy to the middle and high-end level the fund is the first "health industry" investment fund in Fujian Province, and has obtained the national emerging industry venture capital investment plan, the total size of 300 million yuan, the form of limited partnership organization, the survival period of 7 years, of which 1-4 for the investment period, 5-7 years for the exit period The fund will innovate management methods, the funds participating in the stock only require the capital to withdraw, all proceeds are rewarded to social investors and fund managers, do not interfere with the operation of the fund, by the fund manager in full accordance with the market-oriented operation, professional management, only after-the-fact filing supervision Fund will invest primarily in start-ups and adults in the bio-and-
new pharmaceutical industry or other three-high-six new, strategic emerging industries, as well as start-ups with good business models, sustained and stable profitability, financial soundness and an excellent management team More than 80% of the total size of the fund will be invested in domestic biological and new pharmaceutical projects, investment in Fujian Province, the amount of enterprise capital is not less than 150 million yuan