Venture capital international summit held in Beijing

The Beijing 2020 Venture Capital International Summit & Inaugurating Ceremony for IN.CEN Centre was held Tuesday in Beijing, attracting more than 300 representatives from famous venture capital organizations, financial institutions and science and technology companies.

Featuring the opening ceremony of IN.GEN Centre, a park in Chaoyang district for venture capital to cluster, the summit was initiated by several departments of the Beijing municipal government, and organized by the management committee of Zhongguancun Science and Technology Park's Chaoyang district branch.

Yin Yong, vice-mayor of Beijing, said China attaches great importance to science and technology development and innovation, and Beijing has abundant resources to support development of innovation-intensive industries as a national innovation center.

Venture capital is an important force to serve science and technological innovation. Through relocating innovation resources, forging industrial ecosystems and marketing on a global level, capital can help enterprises and industries to develop and go abroad, and will play an increasingly important role in Beijing's aim to become a national scientific and technological innovation center, he said.

IN.GEN Centre will provide more professional and precision services to venture capital firms, which will help attract them to Beijing to make the Chinese capital an international venture capital center, he said.

Since Chaoyang district and the management committee of Zhongguancun Science and Technology Park kicked off the establishment of IN.GEN Centre in June 2019, a lot of policy measures have been rolled out to boost the competitiveness of the IN.GEN Centre and facilitate development of startups.

At the summit, 10 venture capital firms and nine financial organizations signed cooperation agreements with the management committee of Zhongguancun Science and Technology Park's Chaoyang district branch, while academics and business executives shared their views on venture capital development and opportunities.

The summit also revealed a list on the 20 most promising science and technology startups in the district and winners of the so-called future star award for startups.