Fund for key industries launched

A government-led intellectual property fund for key industries was launched last week, with totalplanned capital of 1 billion yuan ($153.3 million), which would make it the richest of its kindnationwide. The first phase of 400-million-yuan capital has been sold out, focusing on investmentin startups and growing companies with high-value patents in mobile Internet and biomedicines.The fund will cooperate with major national IP projects and help IP agencies build multilevelcooperation with investment and financing institutes.