Solving the difficult financing for the "first kilometer", Tianjin will establish two concept verification funds.

Around the difficulty of financing the "first kilometer" of technology commercialization, the Tianjin Science and Technology Bureau proposed at the signing ceremony of the Tianjin Concept Verification Fund establishment on the 14th that it will establish two Tianjin Concept Verification Funds with a scale not exceeding 50 million yuan, through the layout of patient capital, to solve the early investment dilemma. These two concept verification funds will operate in a government-guided and market-led mode, guiding social capital to invest in ultra-early stage investments, supporting the landing and transformation of scientific and technological achievements of high-level innovative platforms such as Nankai University, Tianjin University, key laboratories, and industrial research institutes. It is understood that the single investment of the concept verification fund is mainly around 500,000 yuan, generally not exceeding 2 million yuan.