Two local startups and five enterprises have won places through to the finals of the fourth Jiangsu Science & Technology Entrepreneurship Competition on Aug 5-6, after good showings in the previous rounds.
The teams all specialize in Internet innovation, integrating Internet with tourism, education, electric maintenance, and many other practical fields.
The competition, primarily organized by the Science and Technology Department of Jiangsu province, is designed to cultivate innovation, and creativity in medium, small and micro enterprises. It started in April, comprising regional, overseas, and industrial divisions, attracting 3,700 applicants from home and abroad.
The industrial division is composed of six sub-categories: electronic information, advanced manufacturing, biomedical, green new energy, new materials and Internet and mobile Internet. The Internet and mobile Internet division is the most competitive, with 31 percent of total applications for industry qualification.
Some 35 teams with nearly 51 patented technologies battled it out at Wuxi Software Park (iPark) to make it through to the provincial final, which is scheduled to be held in early September in Suzhou National Hi-Tech District (SND).
A total of seven professional venture capital investors, financial and technical experts were invited to comment on the projects from various perspectives, including business models, market potential and core techniques.
The provincial finalists are expected to win more honors and attract investment in the national innovation & entrepreneurship competition held in December.