Xiangzhou District, Zhuhai

A whopping 5 million yuan ($741,928) is up for grabs for startups from across the globe in Xiangzhou's science and technology innovation competition which opened for entries on Oct 18.

In a bid to attract creative talents from both home and abroad to the district, startups and innovative science enterprises are able to apply to take part in the competition until Nov 30.

The contest is split into two distinct sections, the first being for startups from across the globe, and the second being for science enterprises based in Zhuhai.

For the global startups, lucrative prizes will be up for grabs for first, second and third places, ranging from 10,000 ($1,484) to 50,000 yuan ($7419.5). Not to mention the special 5 million yuan ($741,928) in capital investment.

First prize winners will also be granted an extra 60,000 yuan ($8,903) if they choose to settle in Xiangzhou's e-commerce incubator at the Nanping Science and Technology Park. Subsidies in living, projects and venue rental will also be offered.

The Zhuhai science enterprise competition will see local companies' face-off to win prizes from 10,000 ($1,484) to 50,000 yuan ($7419.5). Finalists will also be offered working allowances and favorable policy support if named as talents with authoritative acknowledgement.  

Eligible applicants will be selected for the quarter finals and final competition in the next two months.

The upgraded event, which has a bigger prize pool than last year, was part of the Mass Entrepreneurship and Innovation Week initiated nationwide. The competition is aimed at attracting entrepreneurial teams in contribution to the district's innovative development.

A sci-tech innovation contest begins on Oct 18 in Zhuhai's Xiangzhou District in response to a national call for innovative development. [Photo / Zhuhai Daily]