橫琴誌 | HENGQIN RECORD

Global innovation and entrepreneurship competition opens for registration

The inaugural Hengqin Scientific & Technological Entrepreneurship Competition has opened for online registrations.

An initiative of the Administration Committee of Hengqin New Area, the Hengqin Scientific & Technological Entrepreneurship Competition is a new annual event with the aim of supporting innovative and entrepreneurial teams that have achieved advanced innovation results and breakthroughs in core key technologies with a promising industrialization prospect.

According to the latest information released by the organizer, a prize pool of RMB300 million (US$45.3 million) will be distributed across the 10 winning teams including RMB100 million for the most outstanding team. Two runners-up rated first grade, three rated second-grade, and four rated third-grade will receive RMB50 million, RMB20 million and RMB10 million respectively. First-class venture capitalists will also be introduced as support.

Projects should involve strategic emerging industries such as new-generation information technology, biomedicine, digital economy, new materials and marine economy. Teams that have already made some achievements and breakthroughs in core or key technologies will be given major support, as will participants with a strong ability to commercialize their business ideas.

A screening process in October will select 150 candidates and be followed by a preliminary contest to reduce the number to 60. Twenty shortlisted projects that make it through the semi-finals will be eligible for the final competition in November. Their projects will be scored by a judging panel composed of national technical experts, noted venture capitalists and experts in industrial economy.

To be eligible for the subsidies, winning teams must establish and register as an independent legal entity in Hengqin. They must conduct R&D and office work, among other things, in Hengqin New Area, the Zhuhai Free Trade Zone and Hongwan and Wanzai integrated area for at least eight years and will have unchanged tax liability.

Registration forms are available at www.hqkcds.cn. Applications close on 30 September 2018 with latest news to be found on the WeChat account (ID:gh_7167d71dc8ba).

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