China and Finland have established a fund to nurture high-tech startups in Northern Europe.

The 40-million-euro ($ 45.5 million) fund will be used to finance gaming, communication and new energy budding companies in Nordic countries, said Liu Kefeng, general manager of Beijing Zhongguancun Software Part Development Co Ltd, a government-backed high-tech enterprise that is spearheading the initiative.

The fund will be co-backed by Chinese and Finish enterprises, Liu said, without naming them.

To further ease communication between the countries' tech industries, the Zhongguancun Science Park, commonly referred to as China's Silicon Valley, also signed a deal with Slush, a Finland-based incubator for global tech startups.

The new fund comes as a growing number of Chinese and Finnish tech enterprises team up to grow businesses.

Rovio Entertainment Ltd, creator of mobile game Angry Birds, licensed a Chinese beverage company on Tuesday to use the brand on its products.

"China is a huge market for mobile games. We are very optimistic about our business here, and will continue working with local players to expand our presence," said Peter Vesterbacka, co-founder of Rovio.

Vesterbacka had some advice for Chinese game makers. "Designing good games is important, but never forget about marketing and branding. When you develop a good game, you need to let everybody know it," he said.