Shan Xiangshuang, president of China Science & Merchants Investment Management Group, delivers a speech at the launch of the new incubator program in Beijing on March 21, 2017. [Photo provided to chinadaily.com.cn]

Beijing-based SuperG Capital announced plans to introduce artificial intelligence (AI) technology to the incubator industry, launching a new program to accelerate the development of its incubator business to boost the "mass entrepreneurship and innovation" strategy.

The agency was set up by China Science & Merchants Investment Management Group in 2014, focusing on investment of startup and innovative projects.

SuperG will link up with incubators nationwide and work with investment agencies to initiate the establishment of 100 startup funds to incubate high-quality projects in major Chinese cities, said Ren Lidian, the company's general manager, at the launch in Beijing on Tuesday.

All startup projects in the incubator pool, including those from Japan, the United States, Israel and the United Kingdom, will be assessed by AI robots and a value list of these projects will be released, Ren added.

The startup funds will make targeted investments in projects within the pool, Ren said.

With the implementation of the "mass entrepreneurship and innovation" strategy, incubators spring up all over the country, said Shan Xiangshuang, president of China Science & Merchants Investment Management Group.

However, a shortage of capital, projects and management are impeding the development of the industry, Shan added.

China Science & Merchants Investment Management Group was one of the first to provide all kinds of resources to support the development of startups and innovation, said Shan.

According to a study by iiMeida Data in 2016, most incubator operators in China were optimistic about the development of the industry and the number of incubators in China is expected to reach 5,000 by 2020.