Betting on ‘dark horses’ to win the race to achieve business innovation
Print Edition
The iHeima competition, which seeks to find innovative new enterprises in China, attracted 55 projects last month.
The competition is billed the biggest in China to help the young entrepreneurs to finance for their start-up projects.
First prize when to Tuyou, a social networking app for do-it-yourself travelers.
Runner-up was Virtual Reality Content Solution, which specializes in game development and film production.
Third place went to Slacker Community, a one-stop shopping and service center for community residents.
The iHeima (meaning “dark horse” in Chinese) competition is financed by the Founder Media Group, which was established in 2008 as one of China’s earliest innovation incubators. It collaborates with other incubators, like Plug and Play Tech Center from Silicon Valley and with listed enterprises such as JD.com.
The competition aims to help pair up promising new ventures with funds willing to provide financing. Since it began in 2010, the competition has helped over 600 companies raise more than 20 billion yuan (US$3.22 billion).
Meanwhile, Shanghai Global Roadshow Center, where the iHeima competition was held, was opened Caohejing Hi-Tech Park in Songjiang.
Young entrepreneurs can do roadshow presentations for their start-up projects here and communicate with mentors. The center also offers a joint office area for 60 to 80 small work groups with two to four people.
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