Guizhou Aerospace Linquan Electric Co Ltd, based in Guiyang National High-tech Industrial Development Zone (Guiyang HIDZ), won first prize in the business model innovation project reply competition held by China Aerospace Science and Industry Corporation (CASIC), according to local media reports on Dec 10.

The winning project was for the "construction and implementation of the platform for micro and special electrical machines, based on cloud sharing and collaboration".

Guizhou Aerospace Linquan Electric is a corporate resident of Guiyang HIDZ, located in Guiyang, the capital city of southwestern Guizhou province.

A spokesman for the winning company said the project, which was officially launched in February 2018, takes collaborative services as the core and relies on productive services.

In addition, it adopts government-led, market-oriented construction and operation models, and low-cost and efficient management and support systems to create a collaborative, dual-supply procurement chain.

Innovation and entrepreneurship centers, communities, crowdsourcing, test center, talent center, live streaming and video on-demand sectors have been built into the project.

These help build a community of online companies and an open business model -- attracting external resources and capabilities to go online and achieve cloud sharing of resources, supply and demand, as well as cloud docking and cloud collaboration.

At the same time, it also provides an open community for electric motors, as well as convenient and practical intelligent transformation technical support for industry enterprises.

It provides a business model for mass entrepreneurship and innovation -- and carries out online and offline cooperation with Guizhou electric and domestic and foreign first-class research and development teams.

To date, the project has had online transactions of 92.94 million yuan ($13.21 million), registered 1,593 industrial chain enterprises and 3,897 individual users.