"We are signing today an agreement in principle and commit to create a Belarusian-Chinese venture fund, with a minimal capitalization of… at least $20 million," Alexander Shumilin, who chairs the State Science and Technology Committee, told reporters.
The fund will manage the money of investors who seek equity stakes in start-ups and innovative enterprises in Belarus.
State officials have made up a list of 43 projects that will be expanded every year. For now, it includes a drone-making program and projects to produce edible packaging as well as reinforced bearings using nanotechnologies, among other initiatives.
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