Beijing to create US$1.4 billion robotics fund as part of plan to become the industry’s ‘international industrial highland’
- The fund will be used to help incubate the latest innovation, develop commercial products and finance mergers-and-acquisition activities
- The Beijing municipal government also plans to provide generous subsidies and incentives to spur the creation of a robotics supply chain in the city
An initial capital of 2 billion yuan has already been pledged by the Beijing municipal government for that fund, according to a notice published by the city’s technology promotion agency on its official website.
The robotics fund will be used to help incubate the latest innovation, develop these breakthroughs into commercial products and finance mergers-and-acquisition activities of local companies involved in the industry, according to the notice from the Beijing Municipal Bureau of Economy and Information Technology.
In addition, the Beijing municipal government plans to provide generous subsidies and incentives to spur the creation of a robotics supply chain in the city.
That includes up to 30 million yuan in support for obtaining key components such as semiconductors and operating systems, development of facilities for companies and researchers to build prototypes, and drawing up automated processes for manufacturing robots.