VC, PE-backed startups boost STAR 
2019-07-05
Research institutes and venture capital firms have played important roles in the ecosystem of the new Shanghai STAR Market. 
Venture capital (VC) and private equity firms (PE) should support startups with limited profit or income in the initial stage before they apply for STAR IPOs, or initial public offerings, speakers told a forum on the Nasdaq-style sci-tech board at Fudan University. 
“China urgently needs a whole innovation ecosystem covering researchers, VC, PE and capital markets including the new STAR Market,” said Liu Di, vice general manager of the Shanghai Stock Exchange.
Up to June 27, 141 firms had applied for IPOs in STAR, covering information services and software, computer and electronics, pharmaceutical and industrial equipment firms. 
