A company designated for technology incubation and scientific funding was inaugurated on July 5 at a capital development conference in Shaanxi province.

Qinchuangyuan Science and Technology Innovation Investment is the first provincial-level science and innovation fund-of-funds with a scale of 10 billion yuan ($1.39 billion). It is part of a 30 billion yuan fund matrix unveiled at the conference marking the launch of science and technology financing that empowers reforms in Shaanxi.

The company will develop four core businesses: science and innovation fund management, science and innovation equity investment, comprehensive science and innovation services, and original technology incubation. By integrating State-owned capital advantages and serving industrial demands, it aims to contribute to Shaanxi's high-quality economic development by becoming a first-class science and innovation investment enterprise.

The conference attracted representatives from government departments, research and financial institutions, enterprises, and other sectors. Participants held in-depth discussions on the theme of integrating technological innovation with capital, exploring ways to optimize the science and innovation ecosystem, promote the transformation of scientific achievements, and strengthen financial support.