Xiangzhou District, Zhuhai

Zhuhai launched a competition on July 17, providing a platform for local university and college students to prove their potential of becomming a successful entrepreneur.

The launching ceremony was held at the Lets Cultural District in Xiangzhou, sponsored by the Zhuhai Human Resources & Social Security Bureau.

The competition divides participants into two groups, depending on what processes their businesses are staying in, whether they are still in the planning stage or in the practice stage.

The planning group is restricted to the enterprises and institutions that are yet to apply for industrial and commercial registration or other legal registrations. They should have already obtained sci-tech innovative achievements or have worked out mature entrepreneurship (commercial) plans. Those that went through legal registration procedures after Jan 1, 2018 are also acceptable. In addition, the core team members should be students from domestic universities (including Hong Kong, Macao and Taiwan) and students at technician colleges. Each team should be comprised of more than three members. They will not be eligible for the contest if the team leader is the legal representative of a company.

Launching ceremony of the 5th Zhuhai University Student Pioneering Competition is held on July 17.

Enterprises and institutions applying for industrial and commercial registration or other legal registrations in Zhuhai after Jan 1, 2015 will be categorized into the practice group. For those whose businesses started after Jan 1, 2013, they are also allowed to compete if they master core technology and invention patents. Legal representatives of the participating companies should be university graduates, technician college graduates or students (including international students with Chinese nationality and students from Hong Kong, Macao and Taiwan). It should be within five years after graduation. The legal representative and the core members of the team should contribute no less than 30 percent of the registered capital or investment amount, according to the organizing committee.

Other newly-established businesses may choose either group to enter as long as they are registered after Jan 1, 2018.

Renowned figures from the business circle are invited to discuss how to facilitate youth entrepreneurship at a forum during the launching ceremony.

Contestants will have to go through the preliminary screening process and semi-finals before facing stiff competition in the final round in November.

The event will produce two gold medals for the planning group and each winner will be given 50,000 yuan ($7,824) in cash. The practice’s two highest scorers will be awarded 100,000 yuan ($15,649) each.

All the award-winning projects can apply to be located in the Guangdong Zhuhai Public Entrepreneurship Incubation (training) base and to be exempt from venue rental. In addition to startup grants, they will also find it more convenient to apply for petty loans, according to local officials.

Successful entrepreneurs share their experiences. [Photos courtesy WeChat account (ID: DMCOVA)]