By Peng Li, iChongqing News

Chongqing - On June 27, the 2019 “Smart China Expo Cup” Big Data Intelligent Innovation and Entrepreneurship Competition for Youth (“2019 Youth Entrepreneurship Competition” for short) held a press conference to announce the competition is about to begin. This year’s competition is accessible to individual participants aged below 40 and team participants (within five people) aged below 35. Qualified projects and teams can sign up by the end of July.

On June 27, the 2019 “Smart China Expo Cup” Big Data Intelligent Innovation and Entrepreneurship Competition for Youth held a press conference to announce the competition is about to begin.

Liao Chuanjin, Deputy Secretary of the Communist Youth League Chongqing Municipal Party Committee, introduced that the competition was divided into three groups of Start-up/Growth/Overseas with seven stages: launch release, project collection, preliminary, rematch, exhibition, final, and awarding ceremony.

In the preliminary stage, an online review will be adopted to screen rematch projects, and relevant districts, counties, and platforms will be organized to negotiate on project settlement and participating projects. The projects entering the rematch will compete in five divisions of Chongqing, Beijing, Shenzhen, Hangzhou, and Wuhan. At last, ten projects respectively selected from the Start-up and Growth groups will enter the final, along with the ten projects chosen from an overseas group and relevant foreign institutions.

The finalist projects will be intensively screened at on-site road shows on the Smart China Expo. The jury committee will comprehensively evaluate and select a first prize, two second prizes, and three third prizes from each group. The awards will be presented at the closing ceremony of the Smart China Expo, including awarding trophies, certificates, and bonuses to the winners, and signing agreements with intention-to-settle projects.

As one of the organizers of the competition, the People’s Government of Yuzhong District issued the policy support for the launch of innovation and entrepreneurship projects on the press conference.

Zou Xiaoyu, Deputy Head of Yuzhong District, introduced that the People’s Government of Yuzhong District and the Communist Youth League Chongqing Municipal Party Committee jointly invited more than 50 venture capital funds and incubators to participate in the competition. This was done in a bid to promote the transformation and application of achievements and effectively boost the implementation of innovation and entrepreneurship projects in the contest this year, “Besides the monetary award ranging from 20,000 to 100,000 RMB, we have set Gift Packs for entrepreneurial teams according to relevant policies of the District/City,” said Zou Xiaoyu.

As for tax incentives, enterprises consistent with the policy of Large-scale Development of Western China can enjoy the tax preference of paying corporate income tax at 15%.

As for financial support, the award-winning enterprises will be provided with a maximum of 300,000 RMB for the project launch. Qualified SMEs can obtain start-up guaranteed loans up to RMB 3 million, and enjoy the financial support according to their contribution to economic development.

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