The Zhongguancun Development Group (ZDG) in Silicon Valley in the US recently launched the Zhongguancun-Stanford New Technology Venture Investment Fund, Beijing's first overseas fund, Beijing Daily reported.

The fund is the group's first move since it established the incubators in Silicon Valley and Ottawa.

The Silicon Valley International Incubator Center aims to make use of resources in both Silicon Valley and Zhongguancun to attract innovative technologies, talents and capitals to the park, and to promote the development of Zhongguancun-based enterprises in the US， according to Luo Wei, director of the incubator project with the group.

The fund will provide access for enterprises that wish to enter the Chinese market, and will give priority to support original and groundbreaking innovative technology projects in Stanford University and other colleges in the US.

The general director of the fund, Gu Anqi, has chosen to invest in three projects out of a total of 20, including Lingzhi, a project which concerns the interaction between humans and computers.

The Zhongguancun-based Shanlian Information Technology and Engineering Company, which combines information products, consumer electronics and 3D communication products, has expressed interest in cooperating with the ZDG on the Lingzhi project, and the three sides are discussing the establishment of a joint company in China.

Edited by Chen Zhilin and Niva Whyman