Wuxi Angel Investment Guidance Fund Management Committee held its third working meeting
On the afternoon of February 17th, the Wuxi Angel Investment Guidance Fund Management Committee (hereinafter referred to as the "Management Committee") held its third working meeting. Li Yaping, Deputy Secretary General of the Municipal Government and Director of the Management Committee, attended the meeting and delivered a speech. Zhao Jianping, Director of the Municipal Science and Technology Bureau and Deputy Director of the Management Committee, presided over the meeting. All members of the Management Committee (authorized representatives) and the Secretary of the Party Committee and Chairman of the Board of Directors of Guolian Group approved the meeting. Hua Xiaofeng, Vice President of Guolian Group and Chairman of Xilin Venture Capital, Wang Zhixing, Co President of Xilin Venture Capital, and others attended the meeting.
The meeting reported on the management and operation of the Municipal Angel Investment Guidance Fund. All members of the management committee listened to the reports on the preparation and establishment of the Xigang Hetao Science and Technology Innovation Angel Fund and the establishment plan of the Wuxi Innovation and Entrepreneurship Seed Fund. They reviewed the sub fund establishment plan, fund management and operation terms, and clarified the requirements for the next stage of work. Zhao Jianping, Director of the Municipal Science and Technology Bureau and Deputy Director of the Management Committee, presided over the meeting. Bao Jing, Deputy Director of the Municipal Science and Technology Bureau and Director of the Management Committee Office, reported on the overall management and operation of the Municipal Angel Investment Guidance Fund in 2022. Wang Zhixing, Co President of Xicheng Venture Capital, reported on the investment management and 2023 work plan of the City Angel Investment Guidance Fund, the preparation and establishment of the Xigang Hetao Science and Technology Innovation Angel Fund, the establishment plan of the Wuxi Tongwei Songling Investment Center partnership enterprise, the establishment plan and management operation of the Wuxi Innovation and Entrepreneurship Seed Fund, and the proposed breakthrough clauses.
At the meeting, Deputy Secretary General Li Yaping fully affirmed the work achievements of the Municipal Angel Investment Guidance Fund in 2022.
To further tilt towards early-stage projects, we must adhere to the principles of "investing early," "investing small," and "investing in hard technology," identify the tentacles of investment and industry integration, effectively promote the full utilization of scientific and technological achievements, and create favorable conditions for angel investment funds to accelerate the transformation and application of scientific and technological innovation achievements, and for scientific and technological projects to break through early development bottlenecks.
The angel investment fund should further focus on investment direction and revolve around the construction of the "465" modern industrial system, reflecting the development needs of our city's landmark industries, leading industries, and future industries, especially the research and development design, key materials, and core component projects related to landmark industries, as well as forward-looking, pioneering, and exploratory major key technology projects related to future industries.
It is necessary to further highlight the need for professional management and regulatory departments such as the State owned Assets Supervision and Administration Commission to pay attention to long-term benefits such as value-added services and industrial cultivation, and to implement the mechanism of angel investment due diligence exemption and tolerance for losses. The Municipal Innovation Investment Group should strengthen post investment management of projects, enhance full process management and comprehensive services for invested projects and enterprises, strictly control investment risks, and improve investment efficiency.
To further strengthen project exploration, all member units of the Angel Management Committee should make full use of their work lines, establish an angel investment project library and a normalized selection and docking platform, actively screen and push high growth early-stage projects, and accelerate effective docking between projects and funds.
To further optimize the investment environment, all relevant departments and managers of angel investment funds should work together and work together to guide the sustained and effective allocation of financial resources to key areas and weak links of innovation and entrepreneurship, providing strong support for building an independent, controllable, safe and efficient modern industrial system.
In the next stage, with the strong support of the management committee, the City Angel Guidance Fund will establish seed funds for earlier operation and strengthen professional management level in accordance with the guidance of the work conference. Adhering to the idea of "investing early, investing small, and investing in hard technology", it will further extend the service chain, amplify the leverage effect, achieve seamless connection between capital and projects, and help accelerate the growth of technology-based small and medium-sized enterprises in Wuxi.
Part of the source of the article: WeChat official account of the Municipal Science and Technology Bureau
