'Straight to Wuzhen' competition brings innovations to reality

With its vision of globalization and high standards, the competition is widely recognized as a platform and a milestone for enterprises, according to You Xiangdong, a judge for four editions of the competition finals and managing partner and executive president of Zheshang Venture Capital Co Ltd.

Award-winning enterprises may benefit in terms of external financing and brand building. The value of the awards will continue to be realized over a rather long period after the competition.

Dedicated to the track of digital and intelligent healthcare, You said artificial intelligence undoubtedly plays a vital role in this year's competition. The technology should really solve clinical problems, with a qualified team combining AI technology with professional healthcare expertise.

Additionally, the whole project should establish a closed loop that covers both commercial and payment systems. The payment system is shaped by where the money comes from, the intention behind it and whether the project can generate sustained revenue. It is not uncommon for healthcare projects with advanced technology to fail to generate revenue. Without a payment system in place, commercialization cannot be established.

Steve Hoffman, co-chair of the "Straight to Wuzhen" Global Internet Competition, highlighted that cross-sector connections in helping promising ideas become successful businesses are absolutely essential.

"As co-chairman, my mission is to help entrepreneurs with these challenges, building international bridges between China, Silicon Valley, and the rest of the world," Hoffman said. "International entrepreneurs who come to Wuzhen can discover new partners, understand China's innovation ecosystem, and explore opportunities they might never encounter at home. The greatest innovations often emerge when people from different cultures and industries work together."