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Competition opens for young entrepreneurs in Pingtan

( chinadaily.com.cn )

Updated: 2016-10-17

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Fifty seven startup teams enrolled in a cross-Straits competition for young entrepreneurs, which opened on Oct 15, as part of the 2016 National Mass Entrepreneurship and Innovation Week in Pingtan.

The teams cover a variety of fields, including creativity, tourism, agriculture, e-commerce and new media, and will be pitted against each other for three days.

Eight start-up experts, established entrepreneurs and venture capitalists made up the judges team to score competing projects based on their technical sophistication, market positioning, competitiveness, business model and financial feasibility.

Winning teams are set to receive prize money ranging from 2,000 yuan to 50,000 yuan ($7434). They will also have the opportunity to settle in the Taiwan Innovation Park and have access to a slew of supporting policies.

A total of 20 teams joined the first day's competition, with the first place of the day won by a team offering a low-altitude aerial photography service.

A young entrepreneur team, with all its seven members born after 1995, was the first to present their project after teams drew lots.

Their project was a solution of intellectual control and electric propulsion of vessels that integrates new energy technology to reduce the carbon footprint of pleasure boats.

Hu Jinpeng, who spoke for their team, said that national policies give the city a huge advantage and presents an attractive environment to young entrepreneurs.

More innovative projects will be presented during the rest of the competition, including a virtual reality social network, educational robotics and smart tourism products.

Competition opens for young entrepreneurs in Pingtan

Hu Jinpeng, member of a young startup team, speaks to reporters at a cross-Straits startup contest, part of the 2016 National Mass Entrepreneurship and Innovation Week in Pingtan, Fujian province.[Photo/Ptnet.cn]