Professor Chen Yongcai, President of NPC, said: "Research-based startup companies often require longer R&D cycles and are more vulnerable in the current prudent investment environment. NPC venture capital projects can help them integrate funds, strategic cooperation, enhance professional venture capital experience, and provide a more secure channel for scientific research results to enter the market."

NUS Enterprise) issued a statement on Monday (July 22) saying that the plan will focus on supporting high-potential in-depth technology start-ups within the "NUS ecosystem", including projects incubated by the National Research Innovation and Entrepreneurship Program (National GRIP).

However, National GRIP focuses on providing seed funds, and this venture capital plan of NUS aims to accelerate the development of enterprises after the "seed phase" and prepare enterprises for obtaining external capital. This plan is carried out in two parts.

The investment amount of Asian venture capital fell to a 10-year low. On this occasion, the National University of Singapore announced that it would invest RMB 150 million to launch a venture capital plan called "NUS VC Programme" to deal with the dual difficulties faced by technology-based companies.

National University emphasized that in addition to capital investment, what’s special about this project is that it will provide more professional and comprehensive support from senior venture capital companies, including mentor guidance, investor feedback, market access, financing network and operation guidance.

First, the National Congress will inject 50 million yuan into venture capital companies with profound technological investment experience, and jointly invest in starting companies related to the National Congress. The first partners are Singapore-based investment company Granite Asia (formerly Jiyuan Capital Asia), which focuses on breakthrough technology investments, and 4BIO Capital, focusing on life sciences and advanced therapies.

Secondly, CNPC will also allocate 100 million yuan to the autonomous investment fund, focusing on starting companies associated with CNPC, and also have the flexibility to invest with partners.