$22 million fund to attract science enterprises

Huilongsen Science and Technology Park, a State level project in southeastern Beijing, has helped set up a 133 million yuan ($22 million) investment fund to assist small and medium-sized businesses.

The fund was co-founded by Huilongsen International Enterprise Incubator, which provides services to over 500 enterprises in the park and Cybernaut, an investment company based in Zhejiang in eastern China.

The fund hopes to attract more high potential businesses to the park.

Zhu Min, chairman of Cybernaut, is a successful entrepreneur who sold his telecommunication company to Cisco for $3.2 billion in 2007. "I learned entrepreneurship on my own," he said. "But I believe newcomers could find that my experience might help them."