The China Optics Valley 3551 International Entrepreneurship Competition was launched in Beijing on Aug 31, 2018. Three thousand high-end entrepreneurship projects will promote innovation-driven development in the East Lake High-tech Development Zone.

China Optics Valley 3551 International Entrepreneurship Competition opens in Beijing on Aug 31, 2018. [Photo provided to China Daily]

The competition is meant to attract more global talents and will be held in ten divisions around the world -- Silicon Valley, London, Tokyo, Tel Aviv, Berlin, Beijing, Shanghai, Suzhou, Shenzhen and Wuhan. 

Projects in all industries are welcomed, including optoelectronic information, health, energy conservation & environmental protection, high-end equipment manufacturing, high-tech services, integrated circuits & new display and digital economy. 

According to Optics Valley, top investors and entrepreneurs will be invited as judges. 

Competitors will be graded and eight teams will advance to the final with a chance to share the 3-million-yuan ($439,239) awards. 

All 30 projects that reach the semi-finals will be provided with free individual training on startup financing, business models and business policies.    

Since its establishment in 1988, Optics Valley, also known as the Wuhan East Lake High-tech Development Zone, has been committed to innovation-driven development, and has prioritized its talent pool. 

Every year, 10 billion yuan are designated for talent and investment attraction. Innovative entrepreneurship projects in the zone are able to enjoy policy support in fields such as business listing as well as transformation of scientific and technological achievements.

At the launch ceremony, Optics Valley also declared the foundation of the "China Valley 3551 Talent Base" in Beijing that will integrate global resources and improve the innovation environment through extensive cooperation with two venture capital unions, Angel 100 and Stream Hill Angels.   

"We sincerely hope the competition will serve as a platform for global entrepreneurs and Optics Valley will stay open to all the innovative talents and programs," said Liu Ziqing, deputy secretary of the Party Working Committee and director of the Management Committee of the zone.