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The global venture capital conference WeStart 2024, a key part of the Pujiang Innovation Forum in Shanghai, is serving as a multifaceted platform which is helping attendees facilitate project financing, boost technical cooperation, and step up talent recruitment.
The conference, held from Sunday to Tuesday, covered a range of entrepreneurial and investment topics, and saw 13 keynote speeches and two roundtable discussions.
Speakers frequently highlighted concepts such as "patient capital" and "early, small, long-term, and hard-tech investments" as being crucial to supporting technological innovation and economic transformation.
"We focus on the problems faced by scientists to start a business, invest early, invest in small-scale projects, invest for long term yield and invest in the key technology projects. We aim to provide patient capital for scientists to start a business," said Mi Lei, founder of the venture capital firm CAS Star.
The three-day conference also built a designated development platform for aspiring businesses and saw a total of 11 roadshows covering over 130 startup projects.
An international session showcased quality projects from countries and regions including France, Germany, and Hungary, promoting global resource connectivity.
"We are creating a long-term, active platform to bridge entrepreneurial projects with venture capital," said Huang Lihong, director of the Shanghai Technology Innovation Center.
The Pujiang Innovation Forum also saw the release of the Annual Report on China's Technology Transfer (Higher Education and Research Institutes Edition). It showed that last year, China's colleges and universities generated over 205 billion yuan in technology transfer contracts through various methods including licensing and equity investment.
The total number of technology transfer contracts reached 640,000 in 2023, with both the contract value and volume growing by over 10 percent compared to the previous year, the report said.