Hangzhou will hold an innovation and business plan contest for overseas Chinese with the biggest prize of 5 million yuan (US$769,231), city officials said yesterday in Frankfurt, Germany.
Overseas Chinese in North America and Europe, aged 55 and younger, can participate in the contest. Winners will come to Hangzhou for the final competition in early November when the Zhejiang International Talent Exchange and Project Cooperation Conference is held.
More than 320 overseas Chinese presented their business plans at last year’s conference. The developer of “sensor and intelligent control fusion technology” won the 5-million-yuan top prize from the Hangzhou government plus a capital infusion of US$15 million from Zhejiang United Investment Group.
Those who already set up their businesses in Hangzhou are not eligible for the contest. People with new technologies or working in emerging industries can sign up for the contest at www.hzzjlx.com.
All candidates entering the final competition will be awarded 10,000 yuan and win prizes from 50,000 yuan to 200,000 yuan, apart from the top prize.
Winners who start businesses in the city within one year after the contest will get government subsidies from 200,000 yuan to 5 million yuan.
Source: Hangzhou International Center