To further strengthen global collaboration in technology innovation, Compass Ventures Group, Tus Holdings, Sichuan Development Holdings, and Chengdu Economic & Technological Development Zone Construction Development signed a cooperation agreement on June 14th, 2017 in Tel Aviv, Israel, to establish a China-Israel technology innovation fund.

According to the cooperation agreement, the initial scale of the fund will be 3 billion yuan (Approximately 440 million USD), funded by the above partners, and will create a team with rich experience in global technology investment. The investment will focus on fields such as automotive and related technologies, digital technologies, smart city, and biometrics.  The fund will target companies from Israel and China that have both strong innovative technologies and capabilities, as well as strong market potential.

All the partners highly recognize Israel’s strengths in original innovation, high-tech, top talents, technology transfer, and China’s great progress and potential in technology innovation. This innovation fund will have Chengdu, China as one of its major bases for innovation, esp. through close cooperation with all the innovation resources in Chengdu and China Israel innovation Science Park (to be completed). The base will offer all the key ingredients for success in innovation and technology transfer.

The Chairman of Compass, Ronen Dagon, and the Executive Vice Government of Sichuan Province, China, Mr. Wang Ning join the signing ceremony and witness the signing by the representatives of each delegation.”

‍Compass Chairman Dr. Ronen Dagon and the Executive Vice Government of Sichuan Province, China, Mr. Wang Ning in a Senior Level Discussion

Key members of Compass Ventures, Tus Holdings, and the Chengdu Government pose for a Photo at the end of the Signing Ceremony

Key Players from a many Sectors in Attendance for the Signing Ceremony. These included leaders from Compass Ventures, the Sichuan Provincial and Chengdu Municipal Governments, and a Variety of Leading Companies.