Science and Technology Daily: Finals of national innovation, entrepreneurship competition opens

More than 1,400 enterprises are taking part in the finals of this year’s China Innovation and Entrepreneurship Competition, which opened in Guangzhou, South China’s Guangdong province on Oct 15.

They stood out from 30,287 hopefuls in 37 sub-contests across the country.

At the opening ceremony of the final competition, the Guangzhou High-tech Industrial Development Zone announced launching of a 1 billion yuan ($141.16 million) fund targeting young people in the Guangdong-Hong Kong-Macao Greater Bay Area.

The fund will support youth’s innovation and entrepreneurship through angel investment, equity investment, and post-investment appreciation.

As an important node of the GBA construction, Guangzhou boasts a solid industrial foundation and innovative resources; in particular, its biomedical industry is at the forefront of the country in terms of innovation ability and resources, said Zhang Weixing, Party chief of the Torch High Technology Industry Development Center under the Ministry of Science and Technology.

The event is bound to attract the national biomedical science and technology innovation elements to gather in Guangzhou, providing an opportunity for the industry, Zhang added.

Initiated in 2012, the competition has been held for eight consecutive years, attracting more than 180,000 companies and entrepreneurial participating teams. It has become the most influential event in the field and the largest platform for mass innovation and entrepreneurship in China.

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