The 2017 Qianhai Shenzhen-Hong Kong-Macao Youth Innovation and Entrepreneurship Competition, with 2 million yuan (US$290,000) in total prize money, was launched Thursday in Qianhai.
As one of the 12 divisions of this year’s Shenzhen Innovation & Entrepreneurship Competition, the Qianhai competition aims to attract entrepreneurs from Hong Kong and Macao to join in and offer them an opportunity to compete with others from the rest of the city and even from the rest of the country if they win prizes in the competition.
According to the organizers, the three cities will organize preliminaries separately. Participants can choose to join the first round in either Shenzhen, Hong Kong or Macao.
Participants can choose to join either the enterprises’ group or startups’ group (those who haven’t registered as companies). The age of the core members of the team must be under 45 years old and one team must have more than three members. Those who have won a top three prize in another similar competition or are involved in intellectual property rights disputes are not qualified for the competition. Applicants that plan to join the enterprises’ group must be small- or medium-sized companies, which means their total sales in 2016 must be less than 50 million yuan.
Thirty projects from the Shenzhen preliminary, 20 projects from the Hong Kong round and 10 projects from the Macao division will enter the final round.
The application deadlines for the Shenzhen and Hong Kong preliminaries are June 14 and 20 respectively, and the deadline for Macao applicants is Aug. 11.
The Shenzhen preliminary will start June 15; the first round in Hong Kong will begin June 27; and the Macao round will kick off Aug. 26.
Like other entrepreneurship competitions, participants from the first round are required to make a six-minute presentation and answer questions from the judges. The explanation of each team’s financial structure is very important, said the organizers.
First prize winners in the competition will receive 180,000 yuan, the runner-up will win 120,000 yuan and the third prize winners will get 6,000 yuan.
In July, a workshop and an entrepreneurship camp will be held in Qianhai to help teams perfect their projects.
Last year, about 200 projects joined the competition, and this year, as Macao is participating, the organizers are expecting more participants.
The authorities said more applicant channels will be released soon.
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