We're told the competition "will be held in nine cities across eight countries and it is the second time to hold the regional competition in Sydney".
"China Shenzhen has been hosting the innovation and entrepreneurship competition globally for two consecutive years, and successfully attracting more than 1800 outstanding projects from 24 countries," a statement from the organisers says.
"As a platform to stimulate the innovation potential and vitality, the competition provides the driving force for innovation-focused development and creates new opportunities for technological innovation in Shenzhen."
"In order to encourage more entrepreneurs to participate in the upsurge of innovation and entrepreneurship in Shenzhen", the total cash prize pool has risen from RMB9.112 million last year to RMB10.91 million.
"In addition to big cash prizes, the competition also provides policy support such as talent incentives, industry awards, science and technology finance and project incubation for talents, teams and projects in Shenzhen.
"The registration of this competition started on 1 December with a deadline of the end of February 2018." Registration can be done at the competition's official website.
"The competition finals have invited well-known professionals as judges including Barry Marshall, the winner of the Nobel Prize in Physiology or Medicine, George Slimt, the winner of the Nobel Prize in Physics, and Donald Wright, the president of the Wellington Financial Group in Canada.
"The host city has attracted talents at home and abroad for entrepreneurial development for its open, inclusive and innovative culture. There were 982 participants from different countries other than China (53.8% of the total). The city's high-quality environment for innovation and entrepreneurship has impressed global talents through the international competition, while the city image of innovative and its international popularity have been further enhanced.
"Participants with a master's degree or above accounted for 67% of total enrollment, including more than 40% with a doctoral degree. The categories of projects are mainly concentrated in the field of Internet and mobile Internet (information technology) industries (31.8%), electronic technology industry (29.5%), and biomedicine industry (18.1%).
"According to the competition results, for the 99 projects participating in the finals, 65 projects have reached initial co-operation with various parks in Shenzhen, and 11 have officially settled in Shenzhen. Four people have been identified as Shenzhen Peacock Plan Talents and one project team has won funding from Shenzhen Peacock team.
Directed by the Ministry of Science and Technology and State Administration of Foreign Experts Affairs of China, "this year’s competition is sponsored by the Shenzhen Municipal People's Government and undertaken by Shenzhen Baoan District People's Government, Shenzhen Longgang District People's Government, Shenzhen Pingshan District People's Government, Shenzhen Human Resources and Social Security Bureau, and Shenzhen Municipal Commission of Science and Technology Innovation".
Additional information about the competition
- The Second China (Shenzhen) Innovation & Entrepreneurship International Competition sticks with four key features: focusing on high end and expanding the competition scale, planning the future to improve professional standards, providing opportunity to participate in industry competitions and gathering resource to promote market participation.
- Focusing on high end and expanding the competition scale: To attract more global talents to Shenzhen, this year’s competition has expanded into Sydney, Toronto, Berlin, Tel Aviv, Tokyo, Stockholm, Boston, Silicon Valley and London.
- Planning the future to improve professional standards: In order to vigorously implement the innovation-driven development strategy and form the industrial structure of echelon development with new competitive advantages, on the basis of five major industry competitions of Internet, advanced manufacturing, electronic technology, biology and life sciences, materials and energy (including energy saving and environmental protection), this year’s competition includes three additional fields of Internet of Things, Artificial Intelligence and anti-cancer technology.
- Providing opportunity to participate in industry competitions: Awards and cash prizes are set in four competition sections in this international competition, namely, the overseas finals (total cash prizes of 2.61 million yuan), professional competitions (total cash prizes of 1.5 million), the industry finals (total cash prizes of 2.5 million) and the finals (total cash prizes of 4.3 million), where the final winner will have the opportunity to achieve a total cash prize of RMB 1.4 million yuan.
- Gathering resources to promote market participation: Thirty-four 34 entrepreneurships and investment institutions are participating this year. Investors from investment institutions in Shenzhen will serve as judges and mentors to carry out project docking activities during the preliminary competitions. All participating projects can gain investment opportunities of social capital through the investment docking service platform. Meanwhile, two banks will be selected to carry out various forms of financial service solutions such as "Investment & Financing Loan" and "Talent Loan", enriching the financing choices of land-based enterprises and help participants to faster realise landing development.
Here's a video from the first year's competition: