Baotou in North China's Inner Mongolia autonomous region has established a talent innovation venture capital fund in order to attract more outstanding talents and advanced technologies to the city, according to local media reports.

The total size of the fund currently stands at 200 million yuan ($30.9 million), supporting the development of four companies.

The fund invests in talent projects in the form of equity investment. The cycle is generally 8+2 years. It primarily invests in talent innovation and entrepreneurship projects in key fields such as the rare earth industry, the new energy and new materials industry, the pharmaceutical industry, enterprise-local integration, and intelligent manufacturing.

The fund focuses on helping companies integrate various resources and complete talent project investment in accordance with market-oriented standards, including the introduction of human resources, market resources, and technical resources to help companies improve their management level, optimize their governance structures, and improve their operating efficiency.

To date, the talent fund project database has submitted 39 target companies to the talent fund. On-site surveys, industry research and investigatory visits to upstream and downstream companies in the industry that meet the fund management regulations have all been completed.