Shenzhen announces 100 billion AI fund group

Shenzhen fired another shot.

Investment Circle - Decoding LP was informed that the "Shenzhen City's Action Plan to Accelerate the High-quality Development of High-level Application of Artificial Intelligence (2023-2024)" (referred to as the "Action Plan") was recently released. Shenzhen will give full play to government investment guidance The role of the fund is to coordinate and integrate fund resources to form an artificial intelligence fund group with a scale of 100 billion yuan. At this moment, the AI ​​wave set off by ChatGPT is sweeping the world. Almost at the same time, Shanghai and Beijing successively introduced policies related to artificial intelligence. Shanghai proposed to increase private investment to support big artificial intelligence; Beijing plans to increase the scale of the core artificial intelligence industry to 300 billion yuan by 2025... and new measures in various places Behind the scenes, the shadow of guidance funds has emerged.

Shenzhen applies to play:

100 billion AI fund group is coming

Overall, the "Action Plan" formulates 18 measures from six major directions: strengthening the supply of intelligent computing power clusters, enhancing key core technologies and product innovation capabilities, and improving the level of industrial agglomeration. It proposes to mobilize the efforts of the entire city to build a national A new generation of artificial intelligence innovation and development pilot zone and a national artificial intelligence innovation and application pilot zone.

The most conspicuous thing is that the "Action Plan" proposes to play the role of government investment guidance funds in terms of financial guarantee, coordinate and integrate fund resources, and form an artificial intelligence fund group with a scale of 100 billion yuan. This is the first such large-scale AI fund group since artificial intelligence exploded last year.

In addition, artificial intelligence companies are also encouraged to carry out equity financing in multi-level capital markets at home and abroad, and venture capital and venture capital institutions are supported to strengthen investment and mergers and acquisitions in artificial intelligence start-ups. A special session on artificial intelligence will be set up at the Venture Capital Day event. This move also further links the development of the artificial intelligence industry with Shenzhen Venture Capital, opening a fundraising window for institutions that are planning to enter the AI ​​field.

A series of measures to promote the development of the artificial intelligence

industry

were also launched immediately. This includes giving full play to the unique advantages and resource endowments of each district, selecting areas with mature conditions to build artificial intelligence industry clusters; promoting domestic and foreign leading enterprises to set up artificial intelligence subsidiaries in Shenzhen, cultivating and incubating new 100-billion-level leading enterprises, and supporting the development of small and medium-sized enterprises to create A group of artificial intelligence companies that specialize in new technologies, individual champions, and unicorns. In addition, the government has personally engaged in incubation, proposing to build a city-level artificial intelligence ecological incubation platform based on Pengcheng Cloud Brain, and implement a public technical service platform support plan to cultivate a number of artificial intelligence public technical service platforms with unique characteristics.

In terms of talent construction, the "Action Plan" proposes to promote the popularization of artificial intelligence education and discipline construction in colleges and universities, explore and launch corporate talent aggregation plans, and promote the concentration of talents in the artificial intelligence industry; and support universities and enterprises to cooperate in building artificial intelligence talent practice Training base to carry out practical training on artificial intelligence applications in the fields of fashion and creative industries such as clothing and jewelry.

Looking further, the "Action Plan" is a further deepening of the artificial intelligence industry policy last year. In November 2022,

"Shenzhen Special Economic Zone Artificial Intelligence Industry Promotion Regulations"

was introduced and officially implemented. Among them, a series of plans to promote the development of artificial intelligence are proposed from the field of equity investment. Including giving full play to the supporting role of the Municipal People's Government Investment Guidance Fund, focusing on the core areas and key links of artificial intelligence to carry out special support in accordance with the Shenzhen Industrial Cluster Development Plan; encouraging social capital to participate in the development of the artificial intelligence industry; giving full play to the financing guarantee fund for small, medium and micro enterprises role, increasing credit guarantees for artificial intelligence start-ups, etc.

This is my country’s first special legislation for the artificial intelligence industry, and it is also the first policy in Shenzhen that explicitly proposes the establishment of a fund group for the artificial intelligence industry. It can be seen that Shenzhen’s exploration in artificial intelligence-related fields has been very rapid. The release of the above two policies has allowed Shenzhen to build an artificial intelligence industry with “

One Regulation, One Plan, One List, and One Fund Group

” policy system. Since the release of the 208 industry fund group last year, Shenzhen’s “one cluster, one fund” model has begun to extend to other fields beyond the 28 industries. The 100 billion yuan artificial intelligence fund group may be its latest attempt.

Going north to Shenwan, rolling up AI

Unconsciously, various cities have quietly joined the wave of artificial intelligence.

In November 2022, the Anhui Provincial Artificial Intelligence Theme Fund of Funds was officially established. The fund scale is

6 billion yuan

. It will attract outstanding artificial intelligence talents and high-quality talents through the establishment of sub-funds and market-oriented direct investment. The project was launched in Anhui, promoting the implementation of the artificial intelligence theme fund sub-fund group in the province to no less than 20 billion yuan, and striving to reach a total fund size of 30 billion yuan in five years. At that time, this parent fund had reserved more than 80 investment projects, and had reached cooperation intentions with eight investment institutions including Yunfeng Fund, Founder Hesheng, and Gaojie Capital to establish a sub-fund with a scale of 10 billion yuan. Just in January this year, the first batch of sub-funds was officially publicly selected. This is the first artificial intelligence fund of funds launched in China around the launch of ChatGPT.

The AI ​​war is spreading in the city again. Shanghai and Beijing have previously taken a series of measures aimed at developing the artificial intelligence industry, and after Shenzhen released the "Action Plan", they also released relevant measures.

On May 30, Shanghai issued "Several Policies and Measures for Shanghai to Strengthen Support for the Development of Private Investment", proposing to encourage private capital to invest in new infrastructure, extend the implementation period of the interest discount policy for new infrastructure projects to the end of 2027, and provide the highest 1.5 percentage points interest subsidy. This time, Shanghai will focus on attracting the "three leading industries" through the "fund investment" model, and artificial intelligence is one of the "three leading industries".

On the same day, Beijing issued two major documents: "Beijing's Implementation Plan to Accelerate the Construction of a Globally Influential Artificial Intelligence Innovation Center (2023-2025)" and "Beijing's Several Measures to Promote the Innovation and Development of General Artificial Intelligence". In the previous document, the strategy of attracting investment through Government Guidance Fund appeared again.

Among them, it is not only proposed to give play to the guiding role of government investment funds, but also to support long-term capital and patient capital in carrying out early hard technology investments in artificial intelligence chips, frameworks and core algorithms, and to continue to do a good job in artificial intelligence enterprises Listing and cultivation work; It also optimizes the funding investment mechanism for the development of the artificial intelligence industry at the policy level, and proposes to give play to the guiding role of related industry development at the urban and rural levels, special funds for scientific and technological innovation, and funds to attract social capital Participate and increase investment in the artificial intelligence industry.

In addition, the Beijing document also further clarified more specific work goals such as "the scale of the core artificial intelligence industry will reach 300 billion yuan, continue to maintain a growth of more than 10%, and the scale of the radiation industry will exceed 1 trillion yuan."

Prior to this, the battle for the artificial intelligence industry had already begun in the primary market, with many institutions recruiting AI investors overnight, and the long-dormant US dollar funds ushered in a new round of carnival with the explosion of AI. Nowadays, local governments are beginning to catch up. Cities such as Beijing, Shanghai and Shenzhen have issued policies on the establishment of industry funds, listing and exit, etc., which may also provide ammunition and follow-up guarantee for the development of this industry.

It is worth mentioning that Baidu, which just launched "Wenxin Yiyan", officially announced the establishment of the "Baidu Wenxin Investment Fund" with a scale of

1 billion , focusing on investment and incubation in the field of large models. High-quality entrepreneurial enterprises provide them with one-stop resources including capital, technology, and talents.

Robin Li said that the purpose of establishing the investment fund is to build a more active ecosystem and assist developers in developing a variety of AI native applications. According to Baidu, leveraging Baidu's comprehensive technological advantages, the new fund will help Chinese startups and promote the prosperity and development of China's artificial intelligence application ecosystem.

Obviously, no one wants to miss this technology feast.

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