ZTE has unveiled a 100 million Chinese yuan ($15.5 million) venture capital Innovative Fund aimed at driving innovations from within the company. The vendor is seeking technologies, business models and management processes for the fund to invest in.
Hou Weigui, chief architect of the fund and chairman at ZTE, said: “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 ground-breaking new telecommunications solutions.”
With this fund, ZTE looks to stay ahead of the changes in technological trends and boost modernisation in operations, strategy and management models.
Hou Weigui said: "Mobilisation of our employees as creators of ideas for investments for the fund is part our strategy to create bold new concepts and products in the telecom industry.”