The 2019 New Energy Smart Vehicle and Mobility Ecosystem Competition-Suzhou Division was held in Zhangjiagang, a county level city in Suzhou, Jiangsu province on Nov 7.

It was a significant event for the China Automotive Technology Transfer Conference which was held in Zhangjiagang from Nov 7 to 8.

From the launch of the competition in August, a total of twelve projects achieved a place in the final after three months of selection.

"We held the competition in Zhangjiagang for its sound entrepreneurship and innovation atmosphere," said Zhao Feng, chief organizer of the competition and director of the technology development department of the Suzhou Automotive Research Institute of Tsinghua University.

"In addition to its thriving economy, the city boasts a sound automotive industrial foundation with more than 100 auto parts manufacturers. Policies here are also very favorable for startups," said Zhao.

Speaking of automotive technology transfer, Zhao stressed the intangible nature of technology, and that the industrialization and commercialization of any auto project can only be realized fully by combining technology with capital and market.

The number of awards for winning projects has seen an increase from previous years, according to the organizing committee. In addition to a bonus, owners of the top six projects will be honored as leading talents in Zhangjiagang and receive 1 million ($142,500) to 3 million yuan of subsidies if they settle in the city.