The first Pudong New Area "Pearl Cup" Entrepreneurship Competition concluded on Feb 25, honoring over 70 domestic and international projects.

Twelve entrepreneurial projects were granted the opportunity to sign preliminary investment and credit facility agreements with investment institutions and banks.

Winners of the first and second prizes will receive substantial financial support. The first-place winners will receive a one-time personal grant of 1 million yuan ($140,000), a team reward of 1.5 million yuan, and up to 10 million yuan in equity investment, along with comprehensive support for residency and housing services.

Beyond funding, winners will gain access to key resources such as investment opportunities, entrepreneurial spaces, and talent support services — critical elements for launching their ventures in Pudong.

The competition focused on three leading industries: integrated circuits, biomedicine, and artificial intelligence, with particular attention paid to fields such as biomanufacturing, precision medicine, humanoid robots, brain-machine interfaces, and AI models.

A professional judging panel, including investors, well-known entrepreneurs, and industry experts, evaluated participating projects based on innovation, commercial feasibility, market potential, and team strength.

Institutions and individuals who played a pivotal role in recommending high-quality teams were recognized during the event. Those who contributed to talent recruitment have the chance to earn rewards of up to 1 million yuan.

The competition also introduced a "competition-investment link" designed to address the financing challenges faced by early-stage startups.

The launch ceremony of the Pudong New Area "Pearl Cup" Entrepreneurship Competition. [Photo/Shanghai Observer]

Launched in October 2024, the competition attracted over 600 entrepreneurial projects worldwide, with more than 70 percent of participants having overseas education or work experience.

Source: Official WeChat account of the Publicity Department of the CPC Shanghai Pudong New Area Committee