Tencent launches US$1.5 billion fund to give Chinese scientists freedom to reach new heights of innovation
“Original innovation is the most difficult task in basic research. Free exploration is unpredictable, difficult to plan, extremely risky and time consuming. That’s why these research activities are less funded,” , executive vice-president of the University of Science and Technology of China and a lead scientist in China’s national quantum research programme, said in a statement.The new programme will fund research in two major areas: mathematics and physical sciences; and biological and biomedical sciences. Under each area there are tens of secondary subjects, such as theoretical computing science and molecular biology.
“The scientists we fund are those who ‘sit on the bench’ doing fundamental research, and their research must step into ‘no man’s land’,” said a director of the secretariat of the programme in an interview published in China Science Daily on Wednesday.
Well it's not $50 billion, but it's something.