OVC launches talent seed fund to boost entrepreneurship

Wuhan East Lake High-tech Development Zone (Optics Valley of China, or OVC) has launched a talent seed fund to support startups within their first three years by providing essential initial capital for entrepreneurial projects.

Focusing on optoelectronic information, life health, and future industries, the fund aims to help early-stage tech projects make the leap from concept to reality. The fund permits up to 100 percent loss on individual direct investment projects, encouraging companies to take calculated risks.

The fund aims to support competitions such as the Hubei Postdoctoral Innovation and Entrepreneurship Competition and the China Optics Valley 3551 International Entrepreneurship Competition. For these events, the fund provides up to 5 million yuan ($695,500) to projects with individual or team investments capped at 500,000 yuan, or enterprise investments at 1 million yuan, contingent upon expert review and partner voting.

OVC currently hosts over 1,100 technology finance institutions, including tech banks, securities firms, and insurance companies, along with 337 registered funds. This ecosystem fosters a cluster of funds driven by government investment and broad social capital participation.

Over the past five years, OVC's companies have raised over 160 billion yuan. The zone plans to enhance the comprehensive entrepreneurial service system to support the accelerated growth of small and medium-sized enterprises.