Source: Shenzhen Daily | Author:Li Hao

The third China (Shenzhen) Innovative Entrepreneurship Competition (IECSZ) has started inviting participants, a press conference was told yesterday.

Organized by China Association of Technological Entrepreneurs and Shenzhen Municipal Government, the competition is open to small and medium innovative enterprises in the technology and manufacturing industries.

The competition is also open to teams and individuals who have innovative projects in the two categories and intend to establish startups.

Participants can log on to to submit their innovative projects and business plans before June 10.

A judging panel composed of venture capital investment experts will select candidates.

As well as a cash prize ranging from 20,000 yuan (US$3,077) to 300,000 yuan, winning participants can apply for a subsidy from a 30-million-yuan fund established by the city government if they develop their projects within two years.

The city government will also provide preferential policies to those setting up business to develop their projects in Shenzhen.

The winners will be eligible for investment from a venture capital fund supported by venture capital companies.

The investment will range from 300,000 yuan to 6 million yuan.

“The competition is aimed at encouraging innovative startups and fostering innovative talent,” said Yang Yuecheng, vice director of the department of high and new technology development and industrialization, which is affiliated to the Ministry of Science and Technology.

The last competition attracted 1,080 entries, 13 of which were from the United States and Britain, according to Liu Jin, vice director of the city’s science, industry, trade and information technology commission.