The Beijing division of the 11th China Innovation and Entrepreneurship Competition kicked off on March 2. Five companies from Beijing were among the "Top 50 Innovative Startups" winners honored at an award ceremony held at the Zhongguancun Exhibition Center.

Award ceremony of the 11th China Innovation and Entrepreneurship Competition [Photo/beijingetown.com.cn]

This year's competition had a record-high number  of 1,050 enterprises from 16 administrative districts and economic development zones in the city signing up to compete.  The figure doubled  last year's number. 

After nearly 30 online roadshow competitions, more than 120 investment institution leaders and industry experts evaluated the participants online with nearly 10,000 people watching online. Eventually, 56 winning companies were selected. 

Forty-four of the winning companies were recommended for the national competition, and 38 of them won awards. Five companies – namely, Beijing Aurora Xingtong Communication Technology, Beijing Wanxie Tong Information Technology, Beijing ThreatBook Technology, Beijing QCraft Technology, and Huake Chaoneng (Beijing) Energy Technology -- were among the "Top 50 Innovative Startups" winners in the national finals.

The competition aims to support enterprises directly with funding, and replace evaluations with competitions. 

It also encouraged companies to increase research and development investment and use competition as a platform to stand out. It is hoped that this contest can accelerate the transformation of results, entrepreneurship incubation, and industrial cultivation chains and better support the hierarchical cultivation of hard-tech companies and the development of cutting-edge industrial clusters.