(Yicai Global) Sept. 25 -- The Urumqi High-Tech Industrial Development Zone and Shanghai Lingke Dazhong Venture Capital Co. set up Xinjiang Lingke Internet of Things (IoT) Industrial Park in the development zone, state-run Xinhua news agency reported. It is the first IoT industrial park in the autonomous region.
The Urumqi High-Tech Industrial Development Zone provides the park with a business premises, and Shanghai Lingke Dazhong Venture Capital Co. founded Xinjiang Lingke Internet of Things Entrepreneurship Park Co., which is responsible for management and operation.
The industrial park provides integrated IoT solutions for clients housed in it by offering information services and promoting upstream and downstream partnerships and mutual support within the industry.
Some 10 companies have signed up with the park. The industrial park has set up a fund of funds for China's IoT sector to help companies grow and gain strength. It will give priority to investment in quality, key enterprises in the park and help leading players conduct mergers, acquisitions and consolidations along the industrial chain.
Groups in Xinjiang have used IoT technology to trace agricultural products and in the transportation and logistics field in recent years. Xinjiang will roll out over 30 demonstrative IoT application projects in traditional industries including agriculture, animal husbandry, tourism and logistics and in public service fields such as education, health and transportation by 2020, per the region's IoT application plan for the 13th five-year period (2016-2020).