The 4^th China (Shenzhen) Innovation & Entrepreneurship International Competition has been officially launched in December, 2019. The competition will attract numerous high-quality overseas projects, as well as integrate innovation and entrepreneurship resources to help foreign innovation and entrepreneurship projects connect with Chinese hi-tech industrial resources, thus expanding their market in China for mutual benefits and win-win results.

The registration of this competition is open from December, 2019 to February 29^th, 2020. In March, 2020, 7 Overseas Division Competitions will be held in 7 countries while the preliminary round for the Professional Competitions is scheduled to start at the same time. In April 2020, around 100 outstanding projects selected from the Overseas Division Competitions and Professional Competitions will meet in Shenzhen and compete in multiple rounds including Professional Finals, Industrial Finals and the Final for the highest honors and awards of the competition. The competition offers a total prize of RMB9.83 million. A contestant may stand the chance to win a total prize of RMB1.4 million. In addition to the generous prizes, the competition also provides support such as industrial incentives, financial technology and project incubation. This competition will continue to keep its advantages, elevate its brand value, adjust its overseas division competition locations, take “innovation driven” as the main development strategy of the competition, and promote the construction of Guangdong-Hong Kong-Macao Greater Bay Area and Shenzhen as the socialist demonstration area.

I. Establish global connection and build highlands of innovation. This year’s international competition will continue to connect innovative cities and regions globally. It sets up 7 Overseas Division Competitions, including Sydney, Toronto, Berlin, Tokyo, Madrid, Silicon Valley, and London.

II. Professional Competitons are tailored toward industrial needs, promoting industrial upgrading of Shenzhen. To vigorously implement the innovation-driven development strategy and establish a diversified industrial structure and new competition advantages, the competition has added two Professional Competitions (Internet of Things, Artificial Intelligence) to the previous five Industrial Competitions (Internet, Advanced Manufacturing, Electronic Science and Technology, Biology and Life Science and Technology, as well as Materials & Energy). Contestants may register projects under both Professional Competitions and Industrial Competitions, provided that they meet the required conditions.

III. Multi-channel expansion, promoting the comprehensive upgrading of competitions. This competition will optimize the competition rules, perfect the judgment mechanism, and enhance the match between participating projects and Shenzhen’s industries. It continues to cooperate with more than 40 famous venture capital organizations and form a venture capital fund pool of RMB2.5 billion, to carry out portfolio investment on outstanding projects and to help the projects realize achievement conversion. Meanwhile, the committee of the competition will set an exhibition booth on the 18^th Conference on International Exchange of Professionals and exhibits the achievements of previous competitions and excellent winning projects of this competition, to improve the brand reputation and project landing rate of the competition.

Shenzhen has held the innovation and entrepreneurship competition overseas 4 years consecutively. With increasing influence, expanding scale, and continuous emerging of innovation and entrepreneurship achievements, it has been called the “Olympics” of innovation and entrepreneurship and has become an important platform for stimulating global innovation potential and entrepreneurship vitality. The competition has attracted 5135 excellent global projects from 89 countries for registration. The number of participating projects has increased from 615 in 2016 to 1850 in 2019, with average annual increasing rate reaching 44.3%. Among 350 projects participating in the Final in Shenzhen in the past 4 years, 120 projects have reached preliminary cooperation with the industrial parks in the city. Currently, 38 projects have officially settled down in Shenzhen. Specific achievements of the competition include:

I. Aiming high and attracting top projects globally. The competition divisions cover key international innovation regions such as North America, Europe, Asia and Oceania. Relying on the newly added Madrid division competition, it realized the good beginning of “Based in South Europe, radiating to Latin America”. The Madrid competition has attracted projects from 12 Latin America countries for registration. The profile of contestants and the quality of projects has further improved. Among the 1850 registered projects of last year, 956 of team heads are of doctor’s degree, which account for 52%, and 722 projects have patent and copyright software.  

II. Focusing on the industry and playing the synergistic effect of famous enterprises. The industry setting is tailored to the industrial development of Shenzhen. All participating projects are high-end projects from strategic immerging industries that are vigorously developing in Shenzhen. Projects are of high quality overall, many of which are equipped with international leading technology. Previous competitions have cooperated with IBM, Merck, PING AN Group and other famous enterprises, attracting high quality entrepreneurship projects to participate. Abundant industrialized resources have been provided for prize winning projects.

III.  Accumulating resources and helping excellent projects to land. The competition relies on social capital, and cooperates with famous investment organizations such as Shenzhen Capital Group, Cowin Capital, Oriental Fortune Capital. As a result, a venture capital fund pool of over RMB10 billion has been formed to carry out portfolio investment for excellent projects of the competition and to help projects to land in Shenzhen. Meanwhile, the competition proactively integrates with listed companies, investment organization, financial institutions, industrial parks and other social resources, to expedite the industrialization of settling projects.

Shenzhen has impressed overseas entrepreneurs with its outstanding innovation and entrepreneurship environment through the International Competition. As a result, Shenzhen’s reputation as City of Innovation have been further enhanced globally. As the “Olympic” of innovation and entrepreneurship, the competition provides new motivation and energy for innovation-driven development and industrial transformation and upgrading of the city.

The competition shall commence in December, 2019 officially and participants are required to register before February 29^th, 2020. Please visit the official website http://www.itcsz.cn/ to register.