Innovation contest launched
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Innovation contest launched
Author:   Article source: Shenzhen daily  Hits:1143  Add time:2009-5-28  
THE city government has set aside 30 million yuan (US$4.38 million) to subsidize award-winning projects at the first China (Shenzhen) Innovation and Entrepreneurship Competition which was launched Saturday.

    Enterprises and individuals with good high-tech projects can apply for the prizes at the official Web site www. iecsz.org of the organizers, Shenzhen Municipal Science, Technology and Information Bureau and China Association of Technological Entrepreneurs.

    The deadline for applications is June 30 and the final competition and presentation ceremony will be held in November.

    The winning enterprises, totaling 50 at different levels, will receive prizes ranging from 20,000 yuan to 300,000 yuan.

    In the individual category, the 15 winners will be awarded prizes from 20,000 to 200,000 yuan.

    The competition, which aims to promote innovation, encourage science researchers to start businesses and cultivate high-tech pioneering, will be an annual event.

    Eight venture capital companies will set up a company with 30 million yuan to invest in projects winning first, second and third prizes with 6 million, 3 million and 1.5 million yuan respectively.

    The legal person and the founders or founding team of the winning projects, which are to operate in Shenzhen, will receive 300,000 and 200,000 yuan basic subsidies from the government.

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