Hefei forum focuses on capital that drives tech innovation

A forum on what is known as patient capital — that empowers technological innovation — was held on Sept 1 at Zhong'an Chuanggu Technology Park in Hefei, capital city of East China's Anhui province.

Patience capital is a special type of long-term investment, where the investor is willing to wait for returns over an extended period, often prioritizing sustainable growth or social impact over immediate profit.

Organized by GUiTEK Service Platform and investment funds group CAS Venture Capital, the event brought together a wide group of participants from government, industry, academia, research institutes, financial institutions and service providers.

They were there to explore the paths of capital that empower technological innovation.

Liu Kefeng, chairman and president of CAS Venture Capital, said that the commercialization of sci-tech research achievements into industrial applications was becoming a major trend in venture capital, highlighting the importance of maintaining long-term patience to achieve capital appreciation.

Wu Hailong, chairman of GUiTEK, said that the Grand Union of Innovation (GUi), as a core carrier of local sci-tech innovation, had attracted numerous tech enterprises, innovative talent and funds.

The joint establishment of an investment fund between the GUi and CAS Venture Capital aims to facilitate the transformation of scientific and technological achievements from research institutes into commercial applications, Wu said.

During the event, CAS Venture Capital signed agreements with eight companies based in the GUi.

They're all involved in cutting-edge fields such as gene therapy drugs, high-end scientific instruments, advanced equipment and next-generation information technology, with CAS providing financial support and collaborating with research resources.

During subsequent forums, participants explored how to foster new productive forces through a collaborative capital ecosystem.

They also shared insights into the development trends of the AI wave and the integration of artificial intelligence technologies with industries.

The future of drone technology was also discussed, in order to promote the safe and healthy development of the low-altitude economy.

GUi also announced 18 new policies covering financing, talent and ecosystem development — aiming to transform itself into a global innovation hub that attracts top talent from around the world.