An innovation and entrepreneurship contest was launched in the Wuhan Economic and Technological Zone (WHDZ) in Wuhan, capital of Central China’s Hubei province, on Aug 30.
The event was organized by the zone’s organization department, economy and informatization bureau, human resources bureau, and Hopefound Group.
The contest is divided into two categories for companies and individuals. Only companies operating in the zone are allowed to sign up for the contest, while there is no such limitation for individuals.
Projects involving new materials, new energy, energy conservation, environmental protection, and biomedicine are welcomed.
Winners will receive awards of 3,000 to 8,000 yuan ($1,113.6) and be offered the same incentives as skilled workers in the zone, while award-winning projects will enjoy the benefits of preferential policies, including tax reductions and subsidies worth 100,000 yuan.
A Hopefound incubator was also unveiled during the launch ceremony, which was held at the Hubei Hopefound innovation and entrepreneurship school.
According to Liu Qiaocheng, general manager of the Hubei branch of Hopefound, the incubator covers an area of 3,300 square meters and is currently supporting 30 companies and more than 40 project teams.
