Beijing key industries intellectual property management fund was inaugurated in Beijing Economic-Technological Development Area or E-town on Dec 31.

The fund is China’s largest intellectual property fund and the first to be jointly funded by central and local finances. It will be operated in the form of limited partnership with 1 billion yuan ($151.9 million).

The fund’s first tranche will focus on enterprises with core patents or high-valued patent portfolio in the Internet and biomedicine industries, particularly the start-ups and enterprises at growth stage, as well as the intellectual property management organizations with distinctive industrial backgrounds.

As China’s first key industries intellectual property management fund, the fund is expected to play a role different from traditional development funds, highlighting intellectual property in industry development. E-town will take this opportunity to cultivate intellectual property and improve market competitiveness in the key industries, according to the fund’s press conference.