橫琴誌 | HENGQIN RECORD

Hengqin to hold global innovation and entrepreneurship competition

The Administration Committee of Hengqin New Area announced on 16 May that it will hold a global innovation and entrepreneurship competition every year starting in 2018. Participants are not limited to nationality and the winning team will receive RMB100 million as research and development funding.

The key selection scope of the competition is new strategic emerging industries including the generation of information technology, biomedicine, the digital economy, new materials and the marine economy. It will focus on 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 Hengqin government, each year’s competition will select 10 winning teams. The top team will be supported with RMB100 million in funding with the remaining nine to receive between RMB50 million and RMB10 million.

All of the winning teams will register and establish an entity with an independent legal personality in Hengqin before they receive their funding. They must carry out actual business activities or research in Hengqin New Area, the Zhuhai Free Trade Zone and the neighboring Hongwan and Wanzai areas that integrate into Zhuhai’s new city center, with the promise not to relocate inside eight years.

The primary team members will be required to work full-time in Hengqin for at least three months each year and intellectual property rights shall apply mainly in Hengqin.

The inaugural competition will open for online registration in June this year with winners announced by December.

The Administrative Committee of Hengqin New Area will be the organizer, entrusting professional institutions to undertake the project and inviting national technical experts, venture investment experts and industrial economic experts to serve as judges.

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