The Second China Innovation Challenge (Beijing) was held in Beijing on Jan 30, giving awards to a total of 60 innovative companies.

Under the guidance of the Ministry of Science and Technology, the competition was jointly organized by the Torch High-tech Industrial Development Center and Beijing Municipal Commission of Science and Technology.

Liu Hui, vice inspector of Beijing Municipal Commission of Science and Technology, said that the competition helped create connections between the technology demand side and the solution challengers and effectively promoted the development of high-tech enterprises in Beijing.

Liu Hui, vice inspector of Beijing Municipal Commission of Science and Technology, delivers a speech at the Second China Innovation Challenge (Beijing). [Photo provided to chinadaily.com.cn]

Liu Hui said that Beijing municipal government has invested 20 billion yuan ($3.18 billion) on the Beijing Science and Technology Fund, which is expected to drive over 100 billion of financial capital in the future.

Up to Jan 19, a total of 249 solutions were collected for the competition from more than 20 cities around the country and over 10 foreign countries. Application demands in 10 industrial fields cover high-end equipment manufacturing, electronic information, new materials, measurement and inspection.

A total of 58 innovative solution providers competed for 39 units with demands. Seven projects including the environmental protection project of a new special town were agreed upon and are predicted to achieve economic benefits of 150 million yuan.

Companies sign cooperative agreements at the Second China Innovation Challenge (Beijing). [Photo provided to chinadaily.com.cn]

Zhongguancun Innoway organized 13 innovation needs from its companies and 26 recruitments for high-quality solutions. Four pairs of companies reached agreements and signed intentions of cooperation.

Liu Hui also pointed out that Beijing Municipal Commission of Science and Technology will strengthen the construction of the scientific and technological achievements transformation platform, summarizing the demand of tech enterprises including excellent science and technology service organizations.

Companies get awarded at the Second China Innovation Challenge (Beijing). [Photo provided to chinadaily.com.cn]