Wuxi municipal government has announced it will cooperate with Cybernaut Investment Group to establish a 10 billion yuan Internet of Things (IoT) industrial fund with the aim of industrializing technological research, development and application in the IoT industry.
The announcement was made at the 2017 China Internet of Things Plus Summit held in Wuxi city from April 14 to 16.
The fund will be primarily invested in fields relating to IoT & big data, cloud computing, robots, artificial intelligence, high-end equipment manufacturing, novel opto-electronic materials and new technologies.
It will attract IoT-related hi-tech enterprises to be based in Wuxi, breed leading enterprises in the local IoT industry and help link Wuxi enterprises with capital markets, which will promote the flourishing local IoT industry.
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