Chinese venture firm Haiyin Capital has partnered with the National Council of Entrepreneurial Tech Transfer (NCET2) to establish a joint venture to provide Chinese venture funding to start-ups formed at American universities.
The American-Chinese University Growth Fund will provide at least US$1 billion of funding from Chinese investors to American university start-ups over the next decade, according to an announcement. NCET2 is an association of entrepreneurial students and university startup officers in the U.S.
NCET2 produces the "University Startups Demo Day", where American universities submit start-ups they create based on the US$37 billion the university research funded annually by the federal government.
Every six months, 200 of those submitted companies are scored by a Corporate Selection Committee to select the 40 "Best U...
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