Qianhai Dreamworks Establishes $150 Million Science and Innovation Investment Fund

“The size of the fund is about 150 million RMB, focusing on strategic emerging industries that Qianhai supports and encourages the development of, and prioritizing investment in outstanding Hong Kong science and technology projects that have already settled in or meet the requirements for settling in the Qianhai DreamWorksite!” On the occasion of the 10th anniversary of its operation, Qianhai Shenzhen-Hong Kong Youth Dream Factory (hereinafter referred to as “Qianhai Dream Factory”) recently held a promotion meeting and the finals of Qianhai Guangdong, Hong Kong, Macao and Taiwan Youth Innovation and Entrepreneurship Competition.

In the event, Qianhai Science and Technology Innovation Group, Qianhai Development Group and United Nations Macro Carson (Shenzhen) Equity Investment Management Co., Ltd. contributed to the establishment of “Macro Carson Qianhai Science and Technology Creation Special Investment Fund”. Qianhai Dream Factory and Hong Kong Cyberport have established a mechanism for mutual promotion of projects, and the first eight enterprises were awarded the certificate of cross-park cooperation.

That night, the 2024 Qianhai Guangdong, Hong Kong, Macao and Taiwan Youth Innovation and Entrepreneurship Competition decided the top three, focusing on the research of intelligent laser industrial mother machine of the State of the project, focusing on hydrocarbon injection thermal runaway fire insulation materials in the Sen New Materials (Shenzhen) Co., Ltd. were awarded the gold medal in the team group and enterprise group.

Fund Cluster Matrix to be launched

To serve the integrated development of science and innovation between Shenzhen and Hong Kong

Liu Guilin, Deputy Director of Shenzhen Qianhai Administration, said that Qianhai Dream Factory and Qianhai Guangdong, Hong Kong, Macao and Taiwan Youth Innovation and Entrepreneurship Competition are important platforms and carriers created in Qianhai to support the development of Hong Kong and Macao youth. In order to better support Hong Kong youth and Hong Kong enterprises to realize their dreams in Qianhai, Qianhai Management Bureau promotes the enhancement of the quality and efficiency of the Dream Factory, and has launched a new development mode of “1510” for Hong Kong youths, and establishes a new mechanism for joint construction and sharing between Shenzhen and Hong Kong.

The so-called “1510” new development model, that is, in the Qianhai Dreamworks launched “1 yuan innovation workshop”, funded 500 million yuan to set up the Dreamworks fund group, to provide 100,000 square meters of industrial space. “Since the release of the new model, the Qianhai Dream Factory has carried out three phases of Shenzhen and Hong Kong joint public selection, so far 66 enterprises have successfully passed the joint assessment by experts from Shenzhen and Hong Kong, mainly artificial intelligence and big health enterprises.” Mo Weixuan, General Manager of Qianhai DreamWorks Operation Company, said that there are currently about 400 enterprises under incubation in the DreamWorks, and 50% of them are entrepreneurial projects in favor of hard science and technology.

In order to continue to help Shenzhen and Hong Kong youth innovation and entrepreneurship, Qianhai Science and Technology Innovation Group, Qianhai Industrial Development Group and United Nations Macro Carson (Shenzhen) Equity Investment Management Co., Ltd. jointly financed the event to launch the establishment of the “State Macro Carson Qianhai Science and Technology Creation Special Investment Fund”. “The size of the fund is about 150 million yuan, mainly focusing on strategic emerging industries supported by Qianhai, such as artificial intelligence, body intelligence, life science and technology and other fields to do early investment.” Ma Zhiqiang, founding partner of Guohong Jiaxin, said.

Ma Zhiqiang said, the capital team is originally a Hong Kong-Shenzhen integration team, the last four or five years is mainly engaged in Hong Kong-Shenzhen science and technology investment, the two places of science and technology environment, policies and opportunities are more familiar with Hong Kong's major universities have a very good basis for cooperation, to help it incubate and has produced some results. “We hope to use this master fund to make up for the shortcomings of the entire science and technology creation ecosystem in Qianhai. Next there will be a series of funds to support the integration of science and innovation between Shenzhen and Hong Kong, and we plan to use the fund cluster matrix to serve the development of the integration of science and innovation between Shenzhen and Hong Kong in Qianhai”.

Qianhai Dreamworks and Hong Kong Cyberport

Establishment of Mutual Promotional Mechanism for Projects

The flow of innovation elements between Shenzhen and Hong Kong is accelerating. During the event, Hong Kong Cyberport, CUHK Data Limited, Qianhai Big Data Company and Qianhai Dreamworks joined hands to launch the “Data Circulation Service Workstation of Qianhai Dreamworks”, which intends to carry out cooperation on open data, further promote the free flow of data and algorithms between Shenzhen and Hong Kong in both directions, and facilitate the orderly and convenient circulation of data across the border.

At the same time, Qianhai DreamWorks and Hong Kong Cyberport have established a mechanism to promote each other's projects. “Hong Kong Cyberport has already signed a memorandum of cooperation with Qianhai Authority in 2021, and another one was signed again two months ago, and both sides will cooperate in depth. Qianhai's advantageous industries such as digital technology, artificial intelligence and financial technology are also all featured industries of Hong Kong Cyberport.” said Mei-Yen Chu, Chief Corporate Development Officer of Hong Kong Cyberport Management Company Limited.

Zhu Meiyan said, the location and strategic advantages of Qianhai is very obvious, has been the Hong Kong people in the mainland development of the “first stop”. In the development of Hong Kong-Shenzhen integration, Hong Kong Cyberport hopes to play an important role. “First, enterprises will land with each other. By integrating the strengths of the two parks, enterprises will land in each other's parks and set up bonuses and shared office space. Secondly, if Hong Kong enterprises and foreign enterprises landing in Hong Kong Cyberport want to develop in the Mainland, we can help them settle in Qianhai first and then seek opportunities to expand into the Mainland market. If Qianhai enterprises want to go public in Hong Kong, we can also provide channels and facilitation services and promote them to the international market.” Chu Mei Yan said.

Currently, 11 enterprises have landed or plan to land in the parks of both sides. The first eight enterprises, including Together Create Dream Technology, Bit Structural Technology, Rise Technology, Hand Painted Technology, Ten Yao Kobo Technology, Source Key Artificial Intelligence, Lingxu Charge New Energy, and Yingli Tong Company, have been awarded inter-park cooperation certificates.

Up to now, DreamWorks has incubated a total of 1,374 entrepreneurial teams, including 955 Hong Kong, Macao and international teams, and the team financing has exceeded RMB 4 billion.