Published: Oct. 21, 2021 at 10:13 AM EDT|Updated: 2 hours ago

SUZHOU, China, Oct. 21, 2021 /PRNewswire/ — “Paradise for Innovation and Entrepreneurship” 2021 Suzhou Science and Technology Innovation and Entrepreneurship Competition is the first competition co-hosted by the Talent Office, the Science and Technology Bureau, the Bureau of Industry and Information Technology, the Human Resources and Social Security Bureau of Suzhou Municipal People’s Government, and the Suzhou Daily. It aims to attract talents to Suzhou to innovate and start businesses, gathering surging power for the high-quality development of Suzhou, according to the Organizing Committee of 2021 Suzhou Science and Technology Innovation and Entrepreneurship Competition.

The competition was officially launched in April this year. Relying on the “Gusu Technology Entrepreneur Plan”, “Competition and Investment for Evaluation” was adopted. 1,233 projects registered for the competition, and 415 projects passed online evaluation, covering 9 major fields such as electronic information, biomedicine, and advanced manufacturing. Finally, 308 projects were selected for the plan, and each project can receive a project funding of 100,000 to 200,000 yuan. The final was held on October 20. 18 high-quality projects competed for the first, second, and third prizes, and received funding of 500,000 yuan, 400,000 yuan, and 300,000 yuan respectively. First prize projects that meet the conditions of the Gusu Leading Talents Program will be given priority.

This competition adopts a new competition system and has achieved remarkable results. First one is “Competition for Evaluation”, to give the project team the opportunity to fully demonstrate themselves through roadshows, reduce the loss rate of good projects, and successfully unearth 8 high-quality projects that have not passed the online evaluation; The second one is “Investment for Evaluation” to increase the participation of social capital. During the roadshow season, over 100 venture capital institutions participated and facilitated the docking of over 60 projects with venture capital institutions; The third one is 7 offline special competitions such as “Future of Technology”, “Advanced Manufacturing” and “Yangtze River Delta”, which have greatly expanded the source of participating projects. The number of projects has increased by 20%. Cooperating in other areas to expand the source of team projects, the number of teams established is 58.

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SOURCE The Organizing Committee of 2021 Suzhou Science and Technology Innovation and Entrepreneurship Competition

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