Guangzhou to host China's first venture capital week

Guangzhou is set to host China's first ever venture capital week from Aug 7 to 13.

To be held at the city's Venture Capital Town, the week is being organized by the Guangzhou science technology and innovation commission and the Haizhu district government.

The venture capital week is aimed at connecting innovation, industry, talent, and capital.

Zhan Decun, deputy director of Guangzhou science technology and innovation commission, said, "Guangzhou is striving to improve the city's attractiveness, creativity and competitiveness."

He added that building a high-end and high quality modern industry system and promoting IAB industries, such the new generation of information technology, artificial intelligence and biological medicine, will also be key.

"The development of industries is intensely connected with science technology, finance and venture capital," Zhan said.

During the week, there will be the launch of the New Third Board Value List, thematic speeches delivered by successful businessmen and an IAB industries forum.

The finals of the sixth China Innovation & Entrepreneurship Competition Guangzhou Area Competition will also be held during the venture capital week, where 580 companies will compete against each other in areas such as electronic information and next-generation information technology, biomedicine, internet and mobile internet, new energy as well as energy conservation and environmental protection.  

Having become a hotspot for venture capital in recent years, Guangzhou wishes to promote the integrated development of science and technology and finance. A first phase of investment of 400 million yuan ($59.5 million) for credit risk compensation for small and medium-sized companies has already been established in the city, with further credit scale set to reach 6.4 billion yuan.

According to officials, in the future Guangzhou will implement a plan to construct a venture capital center with nationwide influence and invest 5 billion yuan into the industry. It aims to establish a fund to promote the industrialization of research findings and drive more social capital to invest in the industrialization of research findings and the incubation of more technological companies. 

A venture capital week will be held from Aug 7 to 13 in Guangzhou Venture Capital Town, according to a press conference held on Aug 2. [Photo/gdkjb.com]

The venture capital week held in Guangzhou Venture Capital Town will be the first of its kind held in China. [Photo/ycwb.com]