Recently, the Council of Yunnan Transformation of Scientific and Technological Achievements and Venture Investment Fund (YTSTAVIF) agreed to establish a one billion yuan fund to help boost the further development of the of biomedicine and big health industry in Yunnan province.

Since its inception in 2013, YTSTAVIF has attracted venture investment institutions, commercial banks and other social funds to provide the province’s technological enterprises with equity or venture investment guiding funds. This is done to facilitate the integration of technology and finance while promoting the industrialization of scientific and technological achievements. In April 2016, the Yunnan Provincial Department of Science and Technology, and the Yunnan Provincial Department of Finance, began making preparations for the establishment of a biomedicine and big health industry fund managed by YTSTAVIF.

After pre-negotiations and a review by the Investment Advisory Committee, as well as other preliminary work, the YTSTAVIF Council unanimously agreed to establish a one billion yuan investment fund for the transformation and industrialization of biomedicine and big health achievements in Yunnan. The fund will cover the sectors of old age, health preservation, health care, fitness and other emerging big health industries. It will also focus on the development of new drugs, vaccines, high-quality Chinese herbal medicines and health materials, traditional Chinese medicines (ethnic medicines), biotech drugs, functional health products and others.