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ZTE allots $15.5M to boost innovation

Posted: 25 Jul 2011 ?? ?Print Version ?Bookmark and Share

Keywords:ICT innovation? telecommunications? venture capital?

ZTE Corp. has released a venture capital of about $15.5 million (RMB100 million) that aims to boost ICT innovations from within the company. Using the "Innovative Fund," the company hopes to generate new telecommunications solutions, business models and management processes recommended by its 80,000 workforce as well as 30,000 R&D employees.

"The creation of this endowment is intended to foster innovative ideas and projects. Innovation is essential and fundamental to ZTE. The fund is one way ZTE is taking action to create groundbreaking new telecommunications solutions, said Hou Weigui, ZTE chair and chief architect of the venture capital fund.

The venture capital fund is part of ZTE's ongoing efforts to stay ahead of changes in technological trends by seeking out investment ideas that will drive both the company and the telecom industry forward. The telecommunications industry is undergoing a critical period as much of the technology used by the industry is shifting from voice-based to data-based services. This technological shift has resulted in tremendous changes within the industry, including changes in traditional business models related to development and implementation of telecom technologies. It also has created opportunities for investment in the industrial landscape.

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