The Mingyue Lake International Innovation & Entrepreneurship Competition final was held in the Liangjiang Collaborative Innovation Zone on Thursday. 

The Mingyue Lake International Innovation & Entrepreneurship Competition final is held in the Liangjiang Collaborative Innovation Zone. [Photo provided to english.liangjiang.gov.cn]

A total of ten teams competed in the final round. A project team specializing in automotive-grade power semiconductors claimed the top prize and won the support of a total worth of 50 million yuan ($7.18 million).

The team focuses on the localized replacement of automotive-grade IGBTs and MOSFETs and the development of automotive-grade power semiconductors.

"We have established partnerships with several prominent players in the global new energy vehicle sector. So far, we have delivered ten million pieces of equipment, all of which proved effective", the presenter of the team said.

Nearly 700 teams signed up for the competition this year, displaying cutting-edge technologies and products, and about 30 teams came from different countries and regions, including the UK, Germany, Netherlands, Italy, Israel, and South Korea.

The competition was initiated in 2021 in Liangjiang New Area to encourage technological innovation and identify and support potential projects and teams. The 2022 session kicked off in July and included nine segments, focusing on strategic emerging industries such as new energy and intelligent connected vehicles, high-end equipment, industrial software, and new materials. 

Li Jie, a member of the Chongqing Liangjiang New Area Party Work Committee and vice-director of the Chongqing Liangjiang New Area Administrative Committee, said Liangjiang will continue focusing on technological innovation, gather high-end innovation resources, create a first-class innovation environment, build Mingyue Lake into a prominent intellectual property, and make the new area an ideal destination for technological innovation and entrepreneurs in West China.