New fund on IC design established in WND

 Wuxi integrated circuit design industry investment fund is launched in WND on Nov 6. [Photo/wnd.gov.cn]

A ceremony was held on Nov 6 at the Wuxi National Xinhuo Entrepreneurship and Innovation Base to celebrate the opening of the Wuxi integrated circuit design industry investment fund. A slew of cooperation agreements were signed to support fund operations.

The fund is Wuxi's first professional fund dedicated to IC design, and was initiated and established by the Intelligent IC Design Technology Institute of the Jiangsu Industrial Technology Research Institute. It has raised 200 million yuan ($31.3 million) to invest in companies engaged in 5G communications, silicon optical communications, advanced wireless communications, the Internet of Things, high-end power electronics, and advanced process intellectual property, among other fields.

It will give full play to the advantages and resources of all parties, promote the development of local packaging and testing, as well as of materials, equipment and other IC-related industries, and drive the agglomeration of complete machine producers and system developers so as to further expedite the high-quality growth of Wuxi's IC industry.