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Lenovo Establishes USD 500 Mln Robotics, AI, Cloud Computing Startup Fund

Xinhuanet, 5/04/16

Chinese consumer electronics manufacturer Lenovo (0992.HK) has established a USD 500 mln startup fund, which will invest in cloud computing, big data, artificial intelligence, robotics, and "Internet Plus" companies. The fund will be managed by the Lenovo Capital and Incubator Group, which was established in March this year.

The Lenovo Capital and Incubator Group will work to create an industry chain by using Lenovo accelerators, capital, strategic investments, post-investment management, and subsidiary companies, according to He Zhiqiang, executive vice president and CTO of Lenovo Group and president of Lenovo Capital and Incubator Group.

Lenovo Capital and Incubator Group has already made investments in more than 40 startups with promising technologies, including gaming platform operator Shenzhen iDreamSky Technology, facial recognition service provider Megvii, e-commerce software provider Shanghai ShopEx Network Technology, app developer Guangzhou Jianhe Network (ZAKER), and smart Wi-Fi router maker Chengdu Diting Technology, said Song Chunyu, vice president of Lenovo Group.

Editor's Note: In March 2015, Chinese Premier Li Keqiang announced the central government's "Internet Plus" strategy, which aims to promote the integration of mobile internet, cloud computing, big data, and internet of things with modern manufacturing. He also said the plan should drive the development of e-commerce, industrial internet and internet finance and health.

Keywords: He Zhiqiang funding incubator Song Chunyu Lenovo cloud computing 0992.HK big data artificial intelligence robot

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