Qingdao attracts innovative forces with maker competition prizes

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The opening ceremony of the 2017 Lanebest Global Innovation and Entrepreneurship Competition finals in Qingdao, Shandong on Sept 25. [Photo: sdchina.com]

The 2017 Lanebest Global Innovation and Entrepreneurship Competition finals kicked off in Qingdao on Sept 25, with the aim to discover technological talents worldwide to have their start-up projects settled in the Shandong province city.

Two strong supporters for innovation and entrepreneurship, the Lanebest Innovation Park in Qingdao and the Shandong University, organized the event, which attracted 200 start-up teams from the US, Canada, France and China itself since the preliminary rounds started in May.

The competing projects represent the innovative strengths in software information, medical care, smart manufacturing, new material, and internet technology from Silicon Valley, Boston, Paris, Shanghai, as well as Jinan and Qingdao in East China’s Shandong province.

Eventually a total of 64 projects were shortlisted for the finals which would produce two first prizes, five second prizes and eight third prizes.

Out of the winning projects, certain ones at their final stage of development will receive prize money of up to 500,000 yuan. While the prize money for the ones at middle stage of development will top at 300,000 yuan, and that for ones at initial stage of development at 100,000 yuan.

All winning projects will be provided with start-up mentors, the investment priority of a dedicated venture capital fund, and rent-free office spaces and apartment buildings for the talents, sponsored by Cocospace, an innovation park at the Qingdao National High-tech Industrial development Zone.

Shang Liqun, director of the Qingdao National High-tech Industrial Development Zone administration, gives a speech to the 2017 Lanebest Global Innovation and Entrepreneurship Competition finals. [Photo: sdchina.com]

Hu Jinyan, vice president of Shandong University, gives a speech to the 2017 Lanebest Global Innovation and Entrepreneurship Competition finals. [Photo: sdchina.com]