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Entrepreneurs fight to survive in hi-tech eliminations

(cityofzhuhai.com)

Updated: 2019-09-18

There is intense competition as 48 standouts will be screened on Sept 23 from 120 projects seeking exposure to investors, financing, and support in the 2019 Venture Competition Zhuhai Hi-Tech Zone.

The grand finals will be conducted on Oct 28 within industries instead of the comprehensive divisions used during the past four of the annual events in Tangjiawan.

Initially, there were 502 projects, including 22 recommended by Hong Kong and Macao sci-tech consultants that entered directly to prompt the settlement of more high-quality projects from the two SARs.

The categories are Start-up for unregistered entrepreneurial teams and Enterprise up to 10 years old. Each grouping features new-generation information technology, biomedicine and medical devices, and two other industries. 

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Review paper materials submitted by online applicants [Photo provided by Zhuhai National Hi-Tech Industrial Development Zone]

Contestants vie for 24 awards involving 2.58 million yuan ($363,850) in prize money. One first-prize, two second-prize, and three third-prize winners of the Enterprise category will receive 300,000 yuan ($42,310), 200,000 yuan ($28,200), and 100,000 yuan ($14,100) respectively, if they settle in the Hi-Tech Zone. Otherwise, the amounts will be 50,000 yuan ($7,050), 30,000 yuan ($4,230), and 20,000 yuan ($2,820).

On the other hand, the first-prize, two second-prize, and three third-prize winners of the Start-up category will be granted 100,000 yuan, 50,000 yuan and 30,000 yuan respectively upon settlement.

Notably, integrated circuit design enterprises that settle in the Hi-Tech Zone and fit into its criteria for pillar industries will obtain an annual specialized subsidy of up to 12 million yuan ($1.7 million), while eligible biomedicine enterprises will be given up to 20 million yuan ($2.8 million) annually. 

Investment and financing institutions and local leading enterprises will be at the competition for exchanges and appraisals, and matching projects with capital and industrial chains. Authentication of high-caliber talent and signings for angel investment are to be completed on the day of the awards ceremony.

Entrepreneurship Training Camp will be held prior to the finals rather than afterwards this year. Proposed are entrepreneurial environment recommendations, representative enterprise exchanges, field trips, and tailored courses. 

Hu Bo, associate professor of Jinan University, will give a talk on intellectual property protection. Meanwhile, the event will offer legal services for awarded projects that settle in the zone. The Hi-Tech Intellectual Property Arbitration Center of the Zhuhai Arbitration Commission will also provide consultations on civil, administrative, and criminal protection of intellectual property. 

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