A venture contest aimed at attracting more overseas talents to Huzhou, East China's Zhejiang province will be held in the city from March 25 to 28, local authorities announced recently.

Fifty-six out of the 190 entrants will participate in the contest's preliminary round, during which 15 finalists will be selected.

Selected by a panel of technology and venture experts as well as fund managers, the finalists will receive up to 50,000 yuan ($7,301.62) in rewards, and the recipients of the top prize, first prize and second prize will also be included in the "Southern Taihu Lake Elite Plan", an initiative launched by Huzhou to recruit global talents, and be granted a maximum of 10 million yuan in subsidies to start up their businesses in the city.

The contest is organized under the guidance of the Service Center for Overseas Students and Experts at the Ministry of Human Resources and Social Securities and the Zhejiang Provincial Department of Human Resources and Social Securities.