The company is a state-owned investment company that specially promotes the transformation of scientific and technological achievements in this province, and it is also one of the earliest institutions in China that use government funds for venture capital practice. The purpose and function of the company are: to manage and use a part of scientific research funds in Shanxi's public budget, to implement scientific and technological plans through venture capital, to drive and attract social funds, to support scientific and technological enterprises, to promote the transformation of scientific and technological achievements and the development of high-tech industries, and to ensure the preservation and appreciation of state-owned assets.
Since its establishment more than ten years ago, the fund company has made positive contributions to the transformation of scientific and technological achievements and the development of high-tech industries in Shanxi Province.
By the end of 2009, the registered capital of the company increased from 80 million yuan in 1998 to 200 million yuan in 2009. Government funds manage 700 million yuan. From 1998 to 2009, * * * supported more than 200 scientific and technological projects with a total investment of 10 billion yuan, attracting nearly 2 billion yuan of various social funds including bank funds, giving full play to the guiding role of government funds.
Since its establishment, fund companies have been developing steadily around the fundamental purpose of venture capital to serve the transformation of scientific and technological achievements, pioneering and innovating, in-depth practice, seeking truth and being pragmatic. As the main body of science and technology investment and promoting the transformation of scientific and technological achievements in our province, fund companies have successfully realized the "four ones" through more than ten years of hard exploration and practice, that is, they have embarked on an innovative demonstration road for local state-owned venture capital institutions to comprehensively promote the transformation of scientific and technological achievements and develop venture capital in economically underdeveloped areas; A relatively complete comprehensive service platform has been initially established, which integrates sub-platforms such as investment and financing, open R&D, management and financial legal consultation, business planning, technology property right transaction and industry association, and works together to promote the transformation of scientific and technological achievements from all directions and angles; A number of scientific and technological enterprises with outstanding scale benefits and leading the industrial development of this province have been cultivated; A team of high-quality venture capital talents has been trained.