China-South Korea (Chongqing) Innovation and Entrepreneurship Roadshow Competition Held

Chongqing is gathering the wisdom of talent and talking about future development. On October 27, 2021, "Online-Gathering in the Mountain City for a Smart future" —China-South Korea (Chongqing) Innovation and Entrepreneurship Competition Roadshow was held at the seat of the Foreign Affairs Office (FAO) of Chongqing Municipal People's Government.

With the theme of "deepening exchanges and cooperation between China and South Korea in innovation and entrepreneurship, and building platforms for common growth of enterprises in Chongqing and South Korea," 14 enterprises from China and South Korea in artificial intelligence, medicine and healthcare, Internet of the Things and other fields performed online, and offline roadshows and jointly sought new opportunities for innovation and entrepreneurship cooperation with the collision of ideas and fusion of information. Wang Wen, Director of the FAO of Chongqing Municipal People's Government, Li Jie, Deputy Director of Liangjiang New Area Administrative Committee, and Lee Kwang-ho, Consul General of the Republic of Korea in Chengdu, attended the event and delivered speeches.

Wang said in her speech that China and South Korea, facing each other across the sea, are not only close neighbors but also win-win partners with mutual benefit. Chongqing and South Korea boast a long history of exchanges. Both sides have witnessed increasing active economic and trade exchanges, deepening industrial cooperation, increasingly close people-to-people exchanges, and growing friendships with new vitality in recent years. In 2021, South Korea ranked fifth in the Global Innovation Index, and China rose to 12th. At present, Chongqing is leading industrial transformation and upgrading with scientific and technological innovation and accelerating the construction of an important economic center and scientific and technological innovation center with nationwide influence. Innovation and entrepreneurship cooperation between Chongqing and South Korea is just at the moment. It is hoped that the two enterprises will fully display their creativity and brainstorm on the stage of China-South Korea (Chongqing) Innovation and Entrepreneurship Roadshow Competition, seek cooperation opportunities, and jointly grasp the general trend of a new round of global scientific and technological revolution as well as industrial chain reconstruction, conform to their respective domestic industrial upgrading needs, empower China and South Korea's economic development with innovation and entrepreneurship and practice corporate social responsibility.

Li Jie introduced the relevant situation of Liangjiang New Area and said it has always attached importance to the cooperation with South Korea. For instance, it is vigorously advancing the construction of China-South Korea Industrial Park, and a number of major cooperation projects such as Hyundai Motor Company, Hankook, POSCO, Hyundai Mobis, Korea Advanced Institute of Science and Technology (KAIST) have entered into the fast track of development. Another important measure to further and effectively promote exchanges and cooperation with South Korea is that the competition serves as another concrete action to advance scientific and technological innovation and investment undertakings between the two parties. Liangjiang New Area is willing to strengthen cooperation, share opportunities, seek common development and mutual benefit, and win-win results with friends from all sectors of society committed to promoting innovation and entrepreneurship.

In his speech, Mr. Lee said Chongqing focuses on the traditional manufacturing industry, and it is accelerating the development of the intelligent industry and high-tech industry. At present, Beijing-Hyundai Auto, SK Hynix, Lucky Goldstar (LG), and other South Korean enterprises have settled in Chongqing, making great contributions to the economic development of China and South Korea. Chongqing and South Korea enjoy profound historical origins and continuous friendly exchanges. China-South Korea Innovation and Entrepreneurship Roadshow Competition was held in Chongqing to expand exchanges and cooperation between China and South Korea in innovation and entrepreneurship. It is hoped that innovative companies of the two countries will realize common collaboration and development by fully displaying their advantages and development prospects and mutual understanding. China and South Korea are expected to carry out more substantive cooperation in the future. In Chengdu, the Consulate General of South Korea will strive to promote more collaboration between South Korea and Chongqing.

On the spot of the event, there were seven South Korean enterprises that performed online and offline roadshows successively, showing Chinese and South Korean high-quality strategic emerging projects in such fields as artificial intelligence, medicine and healthcare, and the Internet of things. South Korean enterprises are including Nets mobility, QTT, Oncocross, BluePrintLab, CUBE Instrument Inc., I-ON Communications, and Medifood Lab, as well as seven enterprises of Chongqing, namely Liangyi Guide (Chongqing) Technology Co., Ltd., Chongqing Xingchangtai Intelligent Technology Co., Ltd., Chongqing Linggong Cloud Digital Technology Co., Ltd., Probro (Chongqing) Biotechnology Co., Ltd. Diteng (Chongqing) Technology Co., Ltd., Chongqing Weizhe Technology Co., Ltd., and Chongqing Qiteng Technology Co., Ltd. They 

The on-site judges asked questions and scored the roadshow enterprises. After a fierce competition, Chongqing Qiteng Technology Co., Ltd. won the first prize, Chongqing Weizhe Technology Co., Ltd. and Probro (Chongqing) Biotechnology Co., Ltd. won the second prize, while I-ON Communications, Oncocross, and Chongqing Xingchangtai Intelligent Technology Co., Ltd. won the third prize. The organizer held an award ceremony for the award winners.

As one of the organizers of this competition, Yu Guosheng, General Manager of Liangjiang New Area Innovation and Venture Capital Development Co., Ltd., said that Liangjiang Venture Capital adheres to the development concept of "creating an environment friendly to innovation and entrepreneurship and supporting industrial upgrading," and hopes to attract high-quality projects from China and South Korea to settle in Liangjiang New Area through this competition. The company will give full play to the guiding role of financial services in the real economy, adhere to the two-wheel-drive of "science and technology plus finance," carefully build an all-round and life-cycle science and technology financial service system such as "equity + creditor's rights" through the existing seed money, science and technology growth loans, guaranteed loans, cross-border loans, and other financial products. Through investment, loans, guarantees, and supplements, it will build a bridge between scientific and technological enterprises and the capital market, constantly strengthen the cultivation of innovation subjects, and consolidate the foundation for innovation and development.

The competition was co-sponsored by Liangjiang New Area Administrative Committee, FAO of Chongqing Municipal People's Government, Liangjiang New Area Industrial Development Group Co., Ltd., and Korea Trade-Investment Promotion Agency (KOTRA). It was undertaken by Liangjiang New Area Science and Technology Innovation Bureau, Liangjiang New Area Innovation and Venture Capital Development Co., Ltd., and Liangjiang Equity Investment Fund Management Co., Ltd. It was strongly supported by the Consulate General of South Korea in Chengdu.