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167 million yuan of Government Investment Attracts 1.76 Billion Yuan of Private Investment
Updated:2018-01-11 17:26:00

Five years ago, Ningbo proposed to build a City of Angel, and became the first to set up a Angel Capital Guiding Fund that sponsored by the government in China. Now, five years later, Ningbo Angel Capital Guiding Fund reports its latest performance to the public. Specifically speaking, the Fund has invested in 190 science and technology innovation projects with an agreed investment of 167 million yuan so far, attracted over 700 million yuan from investment institutions and investors and indirectly guided 1.06 billion yuan of other social capital investments. Besides, major managers of the Fund’s invested projects include 90 doctors, over 70 overseas returnees and 15 experts who are on the list of national and provincial Recruitment Program of Global Experts. The combination of “intellectual capital” and capital is performed well in Ningbo.
It is the Fund’s mission to attract non-governmental capital to invest in science and technology start-ups by specialized operation and build Ningbo into a internationally and domestically renowned destination of investment and starting up businesses. With such a mission, Ningbo Angel Capital Guiding Fund makes continued efforts in bringing its ideas and methods up to date, and establishes a new mechanism for screening and evaluating enterprises which takes the advance level of the technology, market prospects, team and business model as measures, forsaking the conventional standards of judging a enterprise by financial indicators; includes various service resources for starting up businesses through fund cooperation channels so as to provide services for enterprises to establish links with such factors as capitals, laws and policies, and for entrepreneurs to have access to counseling and training, technical cooperation, and personnel recruitment and etc., as well as to improve financing capability, better business model, stimulate innovation and build a “nanny” service ecological chain of science, technology and finance. Moreover, its investment projects are mainly involved in such emerging industries as new generation of information technology, new materials, new equipment, life and health, energy saving and environmental protection… With accurate steps taken by the Fund, about 200 invested companies have reached a total revenue of exceeding 2.4 billion Yuan, representing a profit increase of 40% year-on-year, with a number of small and medium star enterprises standing out.
Currently, Ningbo Angel Capital Guiding Fund has become a “Gold Card” for the entrepreneurship and innovation drive in Ningbo, meanwhile, a “booster” for high-quality economic development. As a result, relevant units and departments from over 20 cities, such as Suzhou, Hangzhou, Xi'an and Shenyang, have come to Ningbo to gain experience. And the “Ningbo Model” has been implemented in other cities in a successful way.


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