Youth innovation & entrepreneurship projects enter Wuxi

The 2018 Innovation and Entrepreneurship Contest for Youth concluded on July 31 in Wuxi, East China's Jiangsu province.

A total of 261 projects from all over the province competed in the event, with 70 standing out from the rest to win prizes, including seven for first place and 21 for second.

Concepts for a new antibody R & D Center, development and utilization of functional polyols and a blackberry industrial park are among the first place prize winners.

Teams from Wuxi took one first place prize, three second place prizes and six third place prizes.

Awards were also granted to eight well-organized teams during the four-day event.

Huang Qin, acting mayor of Wuxi, invited young people to start their business and realize their dreams in the city in his speech at the closing ceremony.

The city's economy has made steady progress thanks to innovation-driven and industry-focused strategies, Huang said, adding that the major economic indicators showed sound momentum in the first half of the year.

"Wuxi will continue to provide innovation enterprises and young talented people with an enabling business environment," Huang added.

A database of all award-winning projects and teams of the contest was launched at the ceremony. It will help facilitate project-to-capital matchmaking.

A group of teams signed letters of intent on financing with venture capital institutions.

More than 10 projects, ranging from a target protein molecular research and development platform to a noninvasive blood glucose monitoring system, intended to settle in Huishan Software Park, according to signed agreements.

The Innovation and Entrepreneurship Contest for Youth is a brand competition in Jiangsu and is gaining more presence after years of development.

This year's event attached more importance to frontier fields, real economy, rural rejuvenation and applications and had record high participation.