Future entrepreneurs flock to Chengdu

Supportive atmosphere and open-minded initiatives help attract country's youngest and brightest graduates

Chengdu, a rising new first-tier city in China, has become a favorite among young people thanks to its supportive environment for innovation, entrepreneurship and comfortable living.

For four consecutive years, Chengdu has been recognized as one of the top cities in China for talent attraction and as one of the most attractive Chinese cities for foreign talent, university students and young job seekers.

Over the past few years, more than 680,000 young talents have chosen to make Chengdu their home. With a permanent population of more than 21 million, this booming megacity in western China has earned numerous accolades.

To attract innovative and entrepreneurial talents, Chengdu launched the Golden Panda Innovation and Entrepreneurship Global Competition in 2019. This event has drawn top talents, cutting-edge technologies and high-quality projects from around the world.

Registration for the 2023 session of the competition commenced on June 29 and will remain open until mid-August.

This year's competition is centered around three areas: next-generation information technology, cutting-edge biomedicine and future technology.

Next-generation IT encompasses integrated circuits, new display technologies and smart terminals. Meanwhile, cutting-edge biomedicine includes modern biotechnology drugs, innovative chemical drugs and intelligent healthcare solutions. Lastly, the future technology category covers artificial intelligence, big data and aerospace equipment.

During the competition, a series of supporting activities will be organized, such as visits to industrial parks, exhibitions of company innovations, investment and financing matchmaking and training sessions. These activities aim to support the healthy growth of high-quality projects and companies.

After the final of the competition, there will be prizes awarded in each field, including one first prize, two second prizes, three third prizes and four outstanding prizes. The winners of these categories will receive cash prizes of 80,000 yuan ($11,131), 50,000 yuan, 30,000 yuan and 10,000 yuan respectively.

To attract innovative talents and high-quality projects, the Chengdu Hi-Tech Industrial Development Zone will provide additional support to award-winning projects. Core members of winning teams who establish companies within a year in the zone are to receive entrepreneurial support of 1 million yuan, 600,000 yuan, 300,000 yuan, and 100,000 yuan, depending on what prize they won.

In addition, if recognized by the zone as a high-level enterprise, a maximum support of 5 million yuan will be given if it receives equity investment from a venture capital institution within three years. At the same time, the enterprise will also receive support for office space up to a maximum of three years and 500 square meters.