Yesterday (September 6), China Unicom will set up a 5G innovation Fund of Funds (FoF) initiated by the company. The first round owns 10 billion yuan for 5G application investment. Through the systematic sub-funds, the scale of funds will be enlarged and the vertical direction will be established pointedly.
According to the plan, in September 2019, the 5G Innovation Fund will be approved for establishment, and the FoF partner is to be settled in October; the FoF fundraising will be completed in November, and the Sub-Fund partner confirmed at the same time; the 5G Innovation Application Sub-Fund will be completed in December. From January 2020 to 2023, it is estimated that the annual FoFs will contribute no less than 2 billion yuan to the industry and its sub-funds, and the corresponding annual sub-funds will be no less than 10 billion yuan.
Liang Baojun, chairman of China Unicom 5G Applied Innovation Alliance and deputy general manager of China Unicom, mentioned that the vitality of 5G lies in application while the power of application is reflected in ecology.
On April 23, at the "2019 Shanghai 5G Innovation and Development Summit and China Unicom Global Industrial Chain Partners Conference", China Unicom and its 32 partners jointly launched the "China Unicom 5G Application Innovation Alliance".
Liang Baojun said that after months of efforts, China Unicom 5G Applied Innovation Alliance has made progress in many aspects. Currently, there are more than 600 alliance members including upstream, midstream and downstream companies of the industrial chain; the constitution has been completed and the constitution has been determined.