Wuxi hosts innovation, entrepreneurship competition finals

The finals of the 2021 Taihu Cup International Innovation and Entrepreneurship Competition takes place in Wuxi, East China's Jiangsu province on Aug 9. [Photo/WeChat account: wuxifabu2013]

The finals of the 2021 Taihu Cup International Innovation and Entrepreneurship Competition took place in Wuxi, East China's Jiangsu province on Aug 9.

This year's competition has attracted over 5,200 projects, including 718 projects from foreign entrants and 373 projects from local participants from Wuxi. Projects involved in the fields of new-generation information technology, as well as new energy and new materials accounted for 35 percent and 17 percent of the total projects respectively.

After over three months of fierce competitions in 12 city competitions, a total of 74 projects from home and abroad made the finals. They will take part in online roadshows within three groups over two days.

The 74 projects focus on key industries of Wuxi, including the internet of things, biomedicine, advanced manufacturing, as well as new materials and new energy.

In the finals, four first prizes have been set for each category, with each awarding a bonus of 100,000 yuan ($15,433), as well as 14 second prizes, each with a bonus of 50,000 yuan. In addition, other finalists will receive a bonus of 10,000 yuan each.

All of the 74 finalists that meet the basic application requirements for the Taihu Talent Plan will be directly selected for the entrepreneurial leading talent (team) project and given financial support of 1 million to 10 million yuan. They will also be able to enjoy supporting policies covering start-up funds, investment and financing support, as well as living security.

Officials from the local science and technology bureau said that related government departments will maintain contact and provide services for these projects that want to develop in Wuxi.