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August 15, 2017

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Home » District » Putuo

Key contest helps district lure entrepreneurs

THE final of the 2017 Putuo District Entrepreneurship Star Selection was held at the district’s entrepreneurship park on 627 Ningxia Road mid last month. The program was co-hosted by the district’s Human Resources and Social Security Bureau, Science and Technology Commission, Civil Affairs Bureau and Women’s Federation.

After rounds of speeches and project pitching, six teams from 12 finalists were presented with the glittering star-shaped trophy cups.

The selection of star entrepreneurs is an entrepreneurship service program that combines competition with industry incubation. This year’s event was the fourth edition.

Over the past four years, the selection was based on the district’s public entrepreneurship service platform. Promising and creative projects were encouraged to compete. Outstanding ones received professional training, funding and wide-range of support from the entrepreneurship park. Officials said that the selection also aims to attract innovative enterprises to settle in Putuo, help build the entrepreneurship incubation agglomeration zone in Caoyang Road, support talented local entrepreneurs and discover creative projects.

The 12 finalists were selected after elimination rounds. An inspiring video about the passion and endeavors of young entrepreneurs opened the final selection round. Touching stories from previous rounds were also reviewed.

Since last year, veteran entrepreneurs advised many teams. It offered them the rare opportunity to know about policies and how to get funding and investment. Some of the teams are now competitive innovation entities. A few projects have already been launched and incubated in the entrepreneurship incubation agglomeration zone in Caoyang Road.

This year’s selection covered a wide range of industries, including education, cultural innovation, smart life, artificial intelligence, intelligent hardware and Internet Plus. The selection was open to entrepreneurship teams (more than three members) who were likely to settle in Putuo, enterprises with about 3 years’ running in the district, and social organizations from the district.

There was one first-prize winner, two second-prize winners and three third-prize winners. The winners will cash awards of 100,000 yuan (US$14,871.43), 80,000 yuan and 50,000 yuan if they work in Putuo for two years.

The event attracted 104 teams. Five roadshows were held for five days, attracting more than 300 people. Around 10,000 people voted for their favorite teams during the one-week-long repechage show.

In the final, the 12 finalists delivered six-minute speeches. They clearly demonstrated the technology and business model of their projects. Afterwards, they had four minutes to answer questions from the jury panel and one minute to think of condensed words to win votes.

The first-prize went to yixiaobao, a platform to evaluate the values of advertising in terms of its effects. Projects about children’s predicament psychological intervention and international mental abacus calculation won the second-prize. The third-prize winning projects were about dressing code, new media and myoporthosis.

In addition to the start-up funding awards from 50,000 to 100,000 yuan, the six winning teams and projects also received allowances in terms of social security, discounted loans of up to 2 million yuan and rental subsidies. They can also settle in the offices at the district’s entrepreneurship park for free.




 

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