The new facility on the university campus, founded in conjunction with Tata Consultancy Services, will house research and academic spaces to promote next-generation technologies.

The fund, backed by Tsinghua Unigroup, will support the growth of industries including high-end manufacturing, IT, aerospace, new energy, new materials, pharmaceuticals and internet-related services.

The weeklong showcase of entrepreneurs and innovators will begin on April 17, covering a wide range of subjects around the theme of overcoming perceived barriers.

Having raised more than $150m, the new incubator will now focus on selecting startups.

Tinnitus Treatment Solutions and food standards and sanitation company RF Biocidics are among the casualties of the $146.6m writedown, with capital being diverted to more promising subsidiaries.

Stanford University is part of a consortium of investors that have put $13m into ActionIQ.

The analytics-as-a-service company backed by IP Group has raised $21.7m by placing 7.2 million shares.