Funding available for AI startups in Beijing

Artificial intelligence startups in Beijing can apply for a funding of up to $4.2 million for research and development, starting Oct 28, a senior official from the capital's Haidian district said on Monday.

Companies and platforms on key AI technological innovation fields involving AI chips, core algorithms, operating systems and basic software will be major applicants for the fund, said Lin Jianhua, director of the district economy and information technology bureau. Some cutting-edge AI innovation projects might get supported for three consecutive years.

"We will explore ways from the idea to develop AI technologies, and encourage enterprises to create products with better performance for the next generation," he said.

In 2018, there were more than 2,000 AI companies in China, according to the Ministry of Industry and Information Technology, and 20 percent have been settled in the capital's Haidian district.