Pudong New Area: Establish a 2 billion RMB seed fund focusing on vertical category models, embodied intelligence, and other directions.

The People's Government Office of Pudong New Area, Shanghai issued the "Work Plan for Promoting the Construction of Zhangjiang Artificial Intelligence Innovation Town in Pudong New Area". The plan proposes to strengthen the empowerment function of artificial intelligence funds. It will leverage the roles of Shanghai's three major leading industry funds, leading district funds, and strengthen the linkage between future industry funds and universities and research institutes. It will establish a 20 billion yuan seed fund, focusing on vertical model, embodied intelligence and other directions, investing early and small. It will increase the proportion of direct investment by angel funds, deploy concept validation, high-quality incubation and other sub-funds. It will promote the establishment of CVC funds, acquisition funds, and S funds to empower the development of growth and maturity stage enterprises. Leveraging the funds linked to the Zhangjiang Artificial Intelligence Innovation Town, it will gather outstanding entrepreneurs from home and abroad and cultivate unicorn projects.