Taizhou Huan Sheng Investment Management Company, a subsidiary of 3SBio, will manage 3SBio Ventures. Taizhou Oriental and 3SBio have committed RMB50m and RMB200m respectively to the fund, with 20% of the total drawn down initially.

Intel Capital is managing the fund which will look to stimulate the performance of the company's forthcoming chips designed to pit laptop computers against tablets.

The corporate venturing unit is looking to increase its size substantially from its present capital of Y360m.

The fund expansion comes as the company's corporate venturing unit has also recruited two executives, Sam Brasch and Yan Pu.

The largest investor in the fund is real estate group Shin Kong.

The incubator will host eight to 16 entrepreneurs for a year and they will receive academic and business development consultancy as well as professional service support from Ozyegin University.

The prize is on the online portal StarAfrica.com and will promote social business projects, targeting the African countries of Orange's footprint.

The fund will invest in the internet, social media and mobile technology.