xi's moments

1000 Plan Startup Contest held in San Francisco

chinadaily.com.cn | Updated: 2018-06-12 11:16

The north tower of the historic Golden Gate Bridge is viewed from the Marin Headlands in San Francisco, California, Feb 12, 2011. [Photo/VCG]

The overseas talent and venture capital exchange of the 7th 1000 Plan Startup Contest was successfully held in San Francisco late last week, attracting nearly 100 unicorns, top incubators and venture capital institutions from North America.

This is the seventh consecutive year that the contest has been held in Silicon Valley in a bid to mine cross-border innovation and entrepreneurship cooperation opportunities and explore differences in venture capital between China and the United States.

With the goal of targeting top-notch entrepreneurs across the world, the 1000 Plan Startup Contest was launched in 2012 by the Association of Thousand Talents Program and the Suzhou, Jiangsu province-based Venture Capital Community, which is operated and managed by the investment and financing service platform under Oriza Holdings.

The event consists of the preliminary contest, which is held in major global cities, the second round contest, and the final contest. It attracted more than 5,000 domestic and foreign projects this year. More than 700 of them qualified for the second round, with over 100 making it to the finals. Meanwhile, 27 people were rated as experts under the 1000 Talents Plan and the total amount of financing for previous projects exceeded 3.2 billion yuan ($498 million).

In the six years since its inception, the event has proved to be an effective model to gather high-end talents, promote scientific and technological innovation, integrate resources and serve China's national innovation and entrepreneurship strategy. It has also attracted a batch of top-tier talents to return to China and start businesses, and facilitated a large number of superior local start-up projects.

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