Artificial intelligence, big data, virtual reality, drones, robots, Internet of Things and aerospace projects are the focus of a new alliance and incubator among venture capital firms in China.
Chinese media report the alliance still has no name, but it is comprised of Zhen Fund, Innovation Angel Funds, CAS Star, Ever Venture Capital, Geek Founders, Tsinghua Digital Innovation Center, Power Cloud Venture Capital, and a few other unnamed parties.
The accelerator will organize project roadshows, innovation competitions, innovation forums, experts speeches and entrepreneur camps.
"As early stage investors, we want to help push innovation in the artificial intelligence and big data space, as well as their applications in China," one of the founding firms said in a statement.
Full capitalization figures and details of the size of the alliance's investment fund have not been released.