SAN JOSE, Calif.--(BUSINESS WIRE)--
Zhongguancun Science Park (Z-Park, the “Silicon Valley of China” in Beijing) today announced the inaugural Technology Innovation & Entrepreneurship Competition at a press conference in San Jose and Beijing simultaneously. This new competition is guided by Z-Park and undertaken by Entrepreneur China Magazine and Hanhai Z-Park. This competition aims to encourage innovation and entrepreneurship in both China and Silicon Valley, tap into high-tech talents and promote the convergence of technology and finance across the globe.
The competition, which encourages start-ups from both the U.S. and China to participate, will take place in Silicon Valley and Zhongguancun simultaneously from May through November 2013, with Silicon Valley finals in October that will include a challenge from the world’s top investment experts. Leaders from venture capital firms and incubators in both the U.S. and China, including Sequoia Capital, DCM, IDG, West Summit Capital, Northern Light Capital, Zhen Fund, Y-Combinator, Plug & Play, 500 Startups, and others, will serve as judges. Start-up finalists from the Silicon Valley region will be awarded with generous cash prizes, including $50,000 USD to the winner, tutoring and a chance to participate in Demo China Spring 2014. Finalists will also be invited to join the Beijing Communication Conference with finalists from the Beijing portion of the competition.
As part of today’s press conference, Guo Hong, director of the Administrative Committee of Zhongguancun Science Park, is announcing the official opening of the competition through video. Leaders from the Chinese Consul General in San Francisco and Z-Park, as well as renowned U.S. and Chinese venture capitalists will also open the competition with a formal presentation to students and entrepreneurs interested in participating.
More information about the competition follows, or can be found on the competition website: http://Z-SVIEC.cyzone.cn/2013/.
Overview of Innovation and Entrepreneurship Competition
The purpose of 2013 the first Zhongguancun-Silicon Valley Innovation & Entrepreneurship Competition is to encourage innovation and entrepreneurship, explore high-tech talents and promote the integration of technology and finance. The competition will bring together the most innovative start-ups in the two regions.
The competition will be opened for U.S. and Chinese start-ups and provide an opportunity for communications among U.S. and Chinese entrepreneurs, and the organizing committee will invite the 12 final teams from the Silicon Valley region to take part in the Communication Conference with counterparts from the Beijing region. Renowned experts from venture capital firms as well as incubators will be judging the competition.
As for the two regions, one is the hotbed of strategic emerging industries in China and the other is the old-brand Holy Land for entrepreneurs in U.S.; the Zhongguancun-Silicon Valley Innovation & Entrepreneurship Competition across the two regions will be a splendid platform for entrepreneurs.
Timeline (May – November 2013)
- May 13th, 2013 (Silicon Valley)/ May 14th, 2013 (Beijing): Press Conference
- June to September, 2013 (Silicon Valley/Beijing): Start-up registration
- August, 2013 (Beijing): Combining the Second National Innovation & Entrepreneurship Competition, choosing the top three awards in Beijing region
- September, 2013 (Silicon Valley): Online preliminary screening, choosing 30 enterprises for the semi-final
- October, 2013 (Silicon Valley): Semi-final, choosing 12 start-ups for the final
- October, 2013 (Silicon Valley): Final, choosing the top three
- November, 2013 (Beijing): Communication Conference for the final candidates in both Silicon Valley region and Beijing region.
Overview of Awards
Silicon Valley Region:
1. The Silicon Valley region of the competition will choose one first prize with the bonus of $50,000 USD, one second prize with the bonus of $35,000 USD, and one third prize with the bonus of $20,000 USD.
2. 12 finalists will be invited to Beijing to visit Z-Park and take part in a communication conference with the start-up winners of Beijing region (one visit from each start-up paid for, with round-trip air tickets and accommodation in Beijing).
3. Winners announced in Z-Park have priority to be recommended to venture capital institutions.
4. Winners can access relevant Zhongguancun innovative incubators and enjoy tutoring to have a better understanding of the Chinese market.
5. Winners in the Silicon Valley region can directly participate in the final of Demo China Spring 2014.
1. The Beijing Region of the competition will choose one first prize, two second prizes and three third prizes. Winners will enjoy one month free incubation services in 500 Start-ups or Plug & Play. The candidates ranking from 7th to 12th will enjoy one semester free of incubation services in Zhongguancun innovative incubators.
2. Winners will be introduced to the upstream and downstream chain enterprises.
3. The finalists will become “the Golden Seed” enterprises directly and enjoy the relevant services.
4. The finalists have priority to be recommended to venture capital institutions.
- Guiding Unit: Zhongguancun Science Park (Z-Park)
- Organizers: Entrepreneur China Magazine and Hanhai Z-Park
- Partners: Sequoia Capital, DCM, IDG, West Summit Capital, Northern Light Capital, Zhen Fund, Y-Combinator, Plug & Play, 500 Startups, and others
- Guo Hong, Director of Administrative Committee of Zhongguancun Science Park
- Xuan Hong, Deputy Director of Administrative Committee of Zhongguancun Science Park; Hugo Shong, founding partner of IDG Capital
- Bob Xu, founder of Zhen Fund
- Chen Datong, founding partner and managing director of West Summit
- Deng Feng, founding partner and managing director of Northern Light Venture Capital
- Kai-Fu Lee, Chairman and CEO of Innovation Works
Office of Organizing Committee
- Innovation Services Center of Z-park
Terms and Conditions
We are looking for start-ups and teams from the industries of internet, mobile internet and next-generation mobile communication, biotechnology and healthcare, energy-saving and environmental protection, integrated circuit, new material, high-end equipment, new energy and new energy vehicles.
- Start-ups: Technology-based start-ups with high growth potential and investment value; established no longer than three years prior; the product has been formed, ready for the market or already on the market; own prospective, subversive technology or innovative business models on a global scale
- Teams: Teams with the spirit of innovation and entrepreneurship, the participating project in the seed stage, without external investment or the angel investment not exceeding $50,000 USD; products in the conceptual phase or existing product prototype or Alpha versions; the core team members not less than 2 persons; with a viable business plan.
About Entrepreneur China
Founded in 2007, Entrepreneur China was co-invested by IDG and other world-renowned VC firms. Entrepreneur China has a content partnership with Entrepreneur Media Inc in the U.S. Entrepreneur China serves as a partner for Chinese entrepreneurs to succeed. Entrepreneur China Magazine is a monthly commercial journal focusing on innovation, start-ups and their growth. CYZONE.cn is the most influential domestic portal and interactive platform focusing on entrepreneurs and start-ups. Kuailiyu.com is one of the top tech blogs in China. Entrepreneur China also hosts a series of influential events including DEMO CHINA, The Hot 100 of Entrepreneur China，China Franchise 50，Entrepreneur China Annual Forum, DEMO CHINA club.