Chongqing - On December 7, the 13th China Innovation and Entrepreneurship Competition, which fosters deep integration across innovation, industry, capital, and talent chains, concluded with a grand award ceremony in the Western (Chongqing) Science City, marking the successful conclusion of the nation’s largest innovation and entrepreneurship event.
The Torch High Technology Industry Development Center of the Ministry of Industry and Information Technology, along with local authorities such as the Chongqing Municipal Science and Technology Bureau and the Chongqing Economic and Information Technology Commission, organized the event, which attracted over 300 guests, participants, and corporate representatives.
Finals of the China Innovation and Entrepreneurship Competition. (Photo/Event Organizer)
In his opening address, Xie Shaofeng, Chief Engineer of the Ministry of Industry and Information Technology, emphasized the pivotal role of innovation and entrepreneurship in advancing the country's industrial development and driving the growth of small and medium-sized enterprises (SMEs). He reaffirmed the government’s commitment to creating a conducive environment for innovation.
The awards ceremony recognized top-performing companies across various categories, including the "Innovation and Entrepreneurship Top 50" and the "Top 10" finalists, acknowledging their outstanding contributions to advancing innovative practices.
Strategic investment to boost innovation in Western China
A key highlight of the event was the launch of the Western (Chongqing) Science City Angel Fund, a 500 million yuan (USD 68.75 million) initiative to support early-stage tech startups with core innovations. The first phase, totaling 300 million yuan, will invest up to 10 million yuan per project, focusing on sectors such as smart electric vehicles, integrated circuits, and biomedicine. This initiative aims to accelerate technology commercialization and drive regional industrial growth.
The event also featured the signing of a strategic cooperation framework between the Torch High Technology Industry Development Center and the Western (Chongqing) Science City Management Committee, signaling a strong partnership to drive regional innovation and industrial growth. A major milestone was the official launch of the Southwest Center of the Torch High Technology Industry Development Center, which will serve as a hub for facilitating the commercialization of technology and enhancing the region’s innovation capabilities.
Awards Ceremony of the China Innovation and Entrepreneurship Competition. (Photo/Event Organizer)
Financing and support for enterprises
In addition to the Angel Fund, the event highlighted the vital role of financial support in empowering innovation. China Merchants Bank's launch of the "Qian Ying Zhan Yi 2.0" financial empowerment program provided tailored financial solutions to help startups overcome capital challenges. In collaboration with the Western (Chongqing) Science City, this initiative aims to create a robust ecosystem for innovative businesses by offering financing, mentorship, and long-term support.
Notable enterprises such as Betta Pharmaceuticals shared their stories of innovation and growth. Betta Pharmaceuticals’ groundbreaking work in cancer treatment and CNNC Enterprises' pioneering technologies in medical equipment garnered significant attention, demonstrating the transformative impact of innovation on both industry and society.
The 13th China Innovation and Entrepreneurship Competition has injected new momentum into Chongqing's innovation-driven development. As the city continues to attract top-tier talent, investment, and high-tech enterprises, it is positioning itself as a key player in China's evolving innovation landscape. The event underscored Chongqing's commitment to fostering a dynamic business environment and further enhancing its role as a leading innovation hub in the western region.