Basesoft receives $9.3 mln in MOST funding
Beijing. July 5. INTERFAX-CHINA - Beijing Basesoft Information Technology Inc. (Basesoft), a database solution provider, has received RMB 60.50 million ($9.35 million) in funding from the Ministry of Science and Technology (MOST), a Basesoft representative told Interfax July 5.
The funding was provided by MOST under the National Science Technology Major Projects Programme, which aims to develop basic software products such as operating systems and database services by 2020, according to Li Yunzhi, a marketing representative.
Basesoft will use the funding to develop large-scale general database management systems based on the company's KingbaseES product with other firms, including Inspur Software Co. Ltd. and UFIDA Software Co. Ltd., Li said.
MOST directs local governments to match its funding to companies, but Basesoft has yet to receive financing from the Beijing municipal government, Li added.
Founded in 1999, Basesoft was acquired by state-owned China Electronics Technology Group Corp. (CETC) in 2008.
Interfax reported June 30 that China Standard Software Co. Ltd. and Wuhan Dameng Database Co. Ltd. received MOST funding of RMB 249 million ($38.52 million) and RMB 55.71 million ($8.61 million), respectively, to develop basic software products.
China National Software Service Co. Ltd. (CSS) has sizeable stakes in both companies, and is also a CETC subsidiary.
-RL
