The finals of the China (Huzhou) Overseas Youth Innovation Contest are held in Huzhou in East China's Zhejiang province, from Sept 4 to 5. [Photo/hz66.com]

The finals of the China (Huzhou) Overseas Youth Innovation Contest were held in Huzhou in East China's Zhejiang province, from Sept 4 to 5.

After the call for entries began in June, a total of 206 projects from 25 countries and regions worldwide registered for the competition. These projects focused on a wide range of industries, including new energy vehicles, semiconductors, optoelectronics, and biopharmaceuticals.

After undergoing a rigorous selection process, 15 projects made it to the finals and were awarded prizes ranging from 5,000 yuan ($691.74) to 50,000 yuan.

Winners who placed third or higher in the final competition were also included in the city's recruitment initiative called the "Southern Taihu Elite Plan". This program provides exceptional start-up funding, with top performers offered up to 10 million yuan.

"The objective of this competition is to encourage a greater number of young entrepreneurs from overseas to settle in Huzhou and contribute to the city's economic development," explained an official from the Huzhou Municipal Bureau of Human Resources and Social Security. Huzhou is working to become a hub of innovation and entrepreneurship.

During their visit, the contestants had the opportunity to explore Huzhou's youth entrepreneurship spaces, industrial parks, and research institutions. As a result, 19 of them have already established tentative cooperation agreements with the city.

Official statistics show that, over the past three years, a total of 518 entrepreneurial and innovation projects have been introduced to Huzhou through the "Southern Taihu Elite Plan", and 410,000 young talents have come to the city.