On August 12th Cocoon Global and Shaoxing Government hosted the 4th Shaoxing Global Innovation and Entrepreneurship Competition - Europe. This initiative seeks to attract talented UK entrepreneurs to meet with Chinese delegates & investors with the aim of bringing high-tech projects to Shaoxing and provide young European entrepreneurs with access to a vast market.
Governmental delegates present at the competition were Yang Weiging, Member of the Keqiao District Comittee of Shaoxing City, Zhang Zhihua, Secretary of the Wangtan Town Party Committee, Hang Hongfeng, Deputy Director of the Keqiao Investment Promotion Center, Xu Yi, Director of Planning & Construction at the Keqiao Science and Technology City in Shaoxing, and Zhao Chunlai, VP of Zhejiang Saichuang Weilai VC Investment Management Co Ltd.
Candidates competed over 12 outstanding project-based opportunities with a special focus on AI, New Materials, Life and Medical Science & Information Technology.
Candidates were required to provide feasible business plans including the relevant project technology, market research, business strategy, and funding required to secure governmental interest and ultimately funding support.
Awarded were two first prize of 300,000 RMB, four second prizes of 200,000 RMB, six third prizes of 100,000 RMB and six participation awards of 50,000 RMB plus travel expenses to the finals.
The first, second and third prize winners will take part in the Shaoxing Industrial Park of Zhejiang recruitment program. The projects can also get policy support such as loan interest subsidies, equity investment incentives, tax incentives, venue subsidies, and housing subsidies. The projects will be tracked and teams provided with services such as policy cashing and startup guidance.
The event was further supported by Magna Carta Island, Cybernaut and Frontier.