Venture funding gets nod

THE Zhuhai Hi-Tech Venture Service Centre has been nationally qualified as a venture investment institution. This makes it eligible for Administration Centre of Innovation Funds for Technology-Based SMEs, according to the Ministry of Science & Technology.
The programme was established in June last year, the first venture guidance fund in China. It backs up venture startup and technical innovation of technology-based small and medium enterprises, according to Xu Mu of the venture service centre.
The centre has invested 5.45 million yuan ($779,000) in 18 bourgeoning enterprises over the years, Xu explained.
In addition to the innovation funds, small and medium-sized enterprises can apply for local venture startup grants, Yan Wu, director of the Zhuhai Hi-Tech Industry Service Centre, said.