The preliminary round of Hefei's 15th Challenge Cup, an innovation and entrepreneurship competition, was held at the Hefei National High-tech Industry Development Zone on June 21. A panel composed of university experts, professors, and senior investment professionals evaluated 19 projects in the competition.

The preliminary competition of Hefei's 15th Challenge Cup takes place at the Hefei National High-tech Industry Development Zone, on June 21, 2024. [Photo/WeChat account: hefeigaoxinfabu]

In recent years, the zone has deepened the reform of its business environment, established a one-stop service platform for innovation and entrepreneurship, increased capital investment, and consolidated the foundation for entrepreneurial development. It grants enterprises over 300 million yuan ($41.3 million) annually to facilitate their innovation and entrepreneurship endeavors. More than 80 incubation parks have been established, spanning a total area of over 6.5 million square meters. Through the establishment of an entrepreneurial university and organization of service activities, the zone is fully encouraging high-level professionals, college graduates, and other groups to start businesses. As of May this year, the zone had become home to over 106,000 market entities, nearly 3,000 high-tech enterprises, and 651 enterprises that use special and sophisticated technologies to produce novel and unique products.

Looking ahead, the zone will fully implement the entrepreneurial action plan to enhance the foundation for innovation and entrepreneurship. The zone will vigorously attract talent from diverse fields globally, continue building entrepreneurial carriers, extensively organize entrepreneurial service activities, and accelerate the implementation of outstanding projects and the commercialization of achievements. The zone aims to become a hub for technological innovation and industrial development, as well as a world-leading high-tech zone.