An annual entrepreneurship competition, which was initiated by the authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, announced Friday to provide a 7 million yuan (US$986,999) prize to lure entrepreneurs, startup groups and businesses to join in. It is now accepting applications.
Under the slogan “Dream Big,” the fifth Qianhai-Guangdong-Hong Kong-Macao-Taiwan Youth Innovation and Entrepreneurship Competition aims to encourage the commercialization of technology findings and communication among Guangdong, Hong Kong, Macao and Taiwan youth.
This year, the competitors will be divided into an entrepreneurs group and a startups group. They can submit business plans that are related to cultural creation, life services, technological innovation industries or other categories that can either reflect characters of local industries or are closely related to people’s daily life.
According to the organizers, judges are directed to focus more on the marketability and sustainability of each project. Tutors will be invited to help optimize projects that make it into the semifinals. Additionally, 30 venture capital institutions will either invest or offer financing services for participants.
The organizers also promise to give priority to excellent projects or winners to settle in Qianhai’s incubators or choose to cooperate with other world-renowned incubators that have inked contracts with Qianhai. They will also be entitled to enjoy Qianhai’s related tax and rent reduction polices.
Winners in each competition region in Guangdong, Hong Kong, Macao and Taiwan will split the 1-million-yuan prize, respectively, and a total of 3 million yuan will be shared by the winners in the final competition.
As part of the China (Shenzhen) Innovation and Entrepreneurship Competition, projects that enter the final round can be recommended to join the Shenzhen competition and national competition as well.
The deadline for applications is June 15 and the screening results will be announced accordingly.
Applicants can go to http://ehub.hkfyg.org.hk/ for more information.