Jiading district in Shanghai has launched a Future Industry Fund worth 800 million yuan ($115.47 million) to boost technology and innovation.
The announcement was made at the Jiading Sci-Tech Industry Development Cooperation Alliance's annual meeting, attended by nearly 200 representatives from various sectors such as investment institutions, listed companies and financial institutions.
The fund is designed to support early-stage projects in five future-oriented areas: intelligence, energy, materials, health, and space. It combines government guidance with market operations and aims to foster groundbreaking innovations.
Jiading plans to enhance its technological capabilities during the 15th Five-Year Plan (2026-30) by capitalizing on the fund. The district aims to improve its competitiveness by focusing on advanced manufacturing and developing new quality productive forces.
The Jiading Sci-Tech Industry Development Cooperation Alliance has been successful in attracting significant investment, with managed funds exceeding 423 billion yuan by the end of 2025. The alliance has invested in over 230 projects, focusing on sectors like integrated circuits and biomedicine.
More organizations joined the alliance at the event to build a strong investment ecosystem in Jiading. This partnership aims to leverage government, capital, and enterprise resources to support innovation.
The meeting also featured discussions on artificial intelligence and precision medicine.
Additionally, the finals of an innovation competition were held, showcasing projects in areas like automotive technology and integrated circuits. This competition has a strong track record of helping projects secure further funding, contributing to the region's innovation landscape.