Global start-up projects compete in Shanghai

An entrepreneurship competition takes place in the China (Shanghai) Pilot Free Trade Zone, Pudong, Shanghai, on Oct 17, with the participation of nearly 60 global hi-tech start-up projects. [Photo/WeChat account: sh-italent]

Nearly 60 hi-tech start-up projects from 17 countries and regions all over the world competed in the final of an entrepreneurship competition at the China (Shanghai) Pilot Free Trade Zone (Shanghai FTZ) in Pudong New Area, Shanghai, on Oct 17.

The event, organized by the Shanghai FTZ Offshore Entrepreneurial Base for Overseas Professionals, focused on leading technology and cutting-edge innovation from around the world.

This year, it attracted more than 710 projects worldwide, of which 60 stood out and entered the final competition.

The offshore entrepreneurial base, established in 2015, is a joint effort of the China Association for Science and Technology and Shanghai municipal government. The base is dedicated to providing comprehensive and convenient entrepreneurship services for overseas professionals who want to start up businesses in the Shanghai FTZ.

In recent years, the base has helped a batch of international startups achieve success in Shanghai. Eccogene, a startup company specializing in the R&D of small-molecule drugs for metabolic diseases, is one such example. Having registered in the base in April, Eccogene has recently completed its first round of financing.

It recently got a new partner - Plug and Play, which focuses on nurturing sci-tech innovation globally. Headquartered in the Silicon Valley in the United States, the space has invested in or incubated more than 10,000 startup companies including some current industry giants like Google, PayPal and Logitech.

The space provides its startups with abundant resources and helps them seek partnerships with venture capital institutions, Fortune 500 companies, and service suppliers amongst others companies. Since 2006, startups at the space has raised venture capital of over $5 billion.

Attendees of an entrepreneurship competition that takes place in the China (Shanghai) Pilot Free Trade Zone, Pudong, Shanghai, on Oct 17. [Photo/WeChat account: sh-italent]

Visitors read information introducing an annual entrepreneurship competition for overseas professionals in the Shanghai free trade zone on Oct 17. [Photo/WeChat account: sh-italent]