Hangzhou Supports Government Industrial Funds to Increase Investment in Brain-like AI Sector, Encourages Leading Firms and Financial Institutions to Establish Industry Funds

Deep News12-19

The Hangzhou Municipal Government has issued several measures to support the innovative development of brain-like AI as a future industry. The policy emphasizes financing support for brain-like AI enterprises.

Specifically, the government will increase investment in the brain-like AI sector through industrial funds and encourage leading companies and financial institutions to establish dedicated brain-like AI industry funds.

To foster early-stage innovation, the policy improves the mechanism for "investing early, small, and innovative." It encourages social capital to jointly invest in brain-like AI technology projects.

For legally established private equity and venture capital funds (social capital) that invest in seed or early-stage brain-like AI startups via capital increase for over two years, the managing entity will receive a reward of up to 10% of the actual investment amount. The maximum reward per invested company is 1 million yuan, with an annual cap of 5 million yuan per managing entity.

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