As a grand finale of the 2018 National Mass Innovation and Entrepreneurship Week, Zhongguancun International Frontier Technology Innovation Competition was held on the morning of Oct 15. The first road show in the highly anticipated medical and health field displayed six projects from home and abroad.

Wang Rufang, deputy director of Zhongguancun Management Committee delivers a speech [Photo provided to chinadaily.com.cn]

The competition is themed as“Focus on cutting-edge technology to lead future innovation”. In collaboration with the Science and Technology Department of the Ministry of Education, the Beijing Branch of the Chinese Academy of Sciences and other partners, Zhongguancun Management Committee brought together technical, industrial and capital resources to hold this competition.

Professionalism of the competition

The main functions of the expert committee include formulating the assessment criteria of the competition and guiding the selection and evaluation of the projects. Chairmen of the expert committee consist of the following personnel:

Liu Zhongfan Academician of Chinese Academy of Sciences, Academician of the Academy of Developing Countries, Dean of Beijing Graphene Research Institute, Director of Nano Science Center of Peking University, member of the 13th CPPCC Standing Committee, Vice Chairman of the 13th CPPCC Beijing Committee

Wang Zhonglin Foreign Academician of Chinese Academy of Sciences, Academician of the European Academy of Sciences, Tenured Professor of Georgia Institute of Technology, Director of Beijing Institute of Nano Energy and Systems of Chinese Academy of Sciences

Shen Changxiang Academician of Chinese Academy of Engineering, Rear Admiral

Ni Guangnan Academician of Chinese Academy of Engineering

Ewenan Academician of Chinese Academy of Sciences, Professor of Princeton University, Dean of Yuanpei College of Peking University, Dean of Beijing University of Big Data

Zhou Hongyi Chairman of Qihoo 360 Company, famous angel investor

Kai-Fu Lee Chairman and CEO of Innovation Works, former Microsoft Global Vice President, former Google Global Vice President

Peeyush Google Global Vice President

Guo Hong Chairman of Zhongguancun Bank

Xuan Hong General Manager of Zhongguancun Development Group

He Zhiqiang Senior Vice President of Lenovo, President of Lenovo Venture Capital Group

Tian Suining Chairman of China Broadband Capital Fund, Chairman of AsiaInfo Technology, Member of Advisory Committee of Harvard Business School

Zhang Quanling Founder of Zi Niu Fund

Group photo of expert committee and representatives from participating companies [Photo provided to chinadaily.com.cn]

Benefits of the competition

Participating companies ranking on the top three positions and in line with the application conditions of the Zhongguancun Management Committee Frontier Reserve Project will be included in the Zhongguancun Frontier Technology Project Review Green Channel. This means that they can directly enter the Zhongguancun Frontier Technology Project Review Final Evaluation. According to relevant regulations, enterprises that pass the above evaluations can receive grants from the government: the allocation will be in proportion to the expenditure of such projects as equipment purchase, rent, R & D investment, etc. (The grant shall not exceed 30 percent of the expenditure, and the financial support can be limited to within five million RMB.)

The service is more practical. Enterprises entering the finals of each field will gain access

to technology and market departments of nearly 100 leading companies and listed companies such as Baidu, Huawei, Jingdong, Lenovo, Xiaomi, BOE, BAIC, China Unicom, Intel, and Sinopec.

In financial services, these companies can enjoy high-quality credit services (Zhongguancun Bank, Hua Xia Bank, Bank of Beijing, China Construction Bank, Industrial and Commercial Bank, Zhongguancun Guarantee Company, etc.), have the opportunity to be prioritized by government guidance fund, and obtain investment opportunities for market-oriented funds.

The 16th branch of the Zhongguancun Demonstration Zone and the district government will connect with enterprises that enter the finals of each field, and provide space and services for them to start businesses, and these companies are also recommended to enter the Zhongguancun Frontier Technology Innovation Center, and they can also enjoy the relevant rent subsidy policies in the center.

Among them, enterprises in the agricultural science and technology sector can settle in Pinggu Park, and enterprises involved in smart city and Internet of Things can settle in Tongzhou Park. All of these companies can enjoy preferential subsidies for the three-year rent granted by their respective parks. Industry experts or renowned investors will be recommended for the top three enterprises in each field as project instructors, to provide guidance to project development.