China's New Fund Aims to Boost Tech Entrepreneurship by Connecting Scholars and Investors
Forbes1 week ago
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China's New Fund Aims to Boost Tech Entrepreneurship by Connecting Scholars and Investors

China
Tech
Innovation
Entrepreneurship
VentureCapital

Summary:

  • iCANX Fund aims to involve tech scholars in entrepreneurship by attracting them as early-stage investors.

  • The fund bridges the gap between academia and the market, encouraging scholars to translate their research into real-world businesses.

  • The initiative reflects a growing awareness of the need to connect academia with the business world to leverage innovation for economic growth.

  • The fund's efforts come amidst rising expectations for AI to reshape global economic competitiveness.

Bridging the Gap: A New Fund Connects Tech Scholars with Entrepreneurship

Venture capital in China has faced challenges amidst slower economic growth and geopolitical tensions. However, the global technology landscape, particularly in AI, remains fiercely competitive. To bridge the gap between cutting-edge research and practical applications, a new fund called iCANX Fund is emerging.

This innovative initiative aims to involve tech scholars in entrepreneurship by attracting them as early-stage investors. iCANX Fund, a collaboration between InnoLink and Professor Alice Zhang (Peking University), provides a platform for scholars to translate their research into real-world businesses.

Professor Zhang, also a founder of the iCANX Association and International Contest of Innovation (iCAN), emphasizes the importance of bridging the gap between academia and the market. "Scholars are at the cutting edge of technology, but they often focus on abstract ideas," she explains. The fund aims to encourage them to "step out of the laboratory and explore a new journey of high-tech entrepreneurship."

Wang Tianmao, dean of Zhongguancun Zhiyou Research Institute and a member of the fund's investment committee, echoes this sentiment. "By getting closer to investment decisions, scholars will benefit from faster application of their research." The fund encourages a "belief-driven" approach, suggesting that action and iteration are crucial even without complete certainty.

The iCANX Fund's initiative comes amidst rising expectations for AI to reshape global economic competitiveness. The fund's efforts reflect a growing awareness of the need to connect academia with the business world to leverage innovation for economic growth.

Key Takeaways

  • The iCANX Fund aims to connect tech scholars with entrepreneurship by encouraging their participation as early-stage investors.
  • The fund emphasizes the importance of translating academic research into real-world applications.
  • The initiative reflects the increasing focus on AI and innovation to drive economic growth and competitiveness.

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