Shanghai global talents competition showcases innovation and entrepreneurship excellence

The final of the 4th Shanghai Global Talents Innovation and Entrepreneurship Competition kicked off on Aug 24 at the Half Marathon Suzhou Creek International Conference Center in Putuo district, Shanghai. Themed "We Shine Together", the competition shines a spotlight on Shanghai's key industries, including integrated circuits, biopharmaceuticals, and artificial intelligence, and six pivotal sectors such as electronic information, life health, and high-end equipment.

Over two days, 139 projects vied for top honors across six tracks: high-end equipment manufacturing, future intelligence, information technology, life health, green environmental protection, cultural creativity, and agricultural technology. The event witnessed a remarkable global turnout, with over 12,000 participants, marking a 48 percent increase from the previous year. Among the participants were 7,596 contestants from China, 412 from overseas, and 715 from universities and research institutes. The projects showcased a diverse range of innovations, with 42 percent in the seed stage, 40 percent in the early stage, and 17 percent in the growth stage.

To further incentivize and support winners in establishing their businesses in Shanghai, the competition has bolstered its reward policies. Winners stand to benefit from substantial financial and industrial support, talent development initiatives, and a host of other incentives. Notably, award recipients can apply for substantial loans of up to 10 million yuan ($1.4 million) for individuals and 30 million yuan for enterprises, with innovation-driven small and medium enterprises eligible for a credit line of up to 100 million yuan.

Moreover, winning contestants and their core team members can apply for talent introduction, household registration for up to five individuals, and access to free office space within the city's "We Shine Together" bases. The competition also extends benefits under Shanghai's talent plan, encompassing support in living allowances, social insurance, taxes, and children's schooling. Subsidies ranging from 100,000 yuan to 30,000 yuan are awarded to gold, silver, and bronze awardees.

An official from the Shanghai Municipal Talent Office underscored the pivotal role of talent in the city's progress, emphasizing that talent serves as Shanghai's most crucial strategic resource, enabling the continuous creation of new marvels. He highlighted the significance of fostering an environment conducive to innovation and entrepreneurship, underscoring the importance of a global perspective in attracting and integrating diverse talent through initiatives like "We Shine Together."

Simultaneously, the 2024 "We Shine Together" Innovation and Entrepreneurship Activity Month was inaugurated, featuring 30 events, including forums, pitch sessions, and training programs, leading up to the "We Shine Together" Global Innovation and Entrepreneurship Summit scheduled for late September.