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Global Contest helps Chinese entrepreneurs pitch opportunities
From: Shenzhen Daily
Updated: 2019-04-15

Minister of Science and Technology Wang Zhigang (2nd L), Shenzhen Party chief Wang Weizhong (2nd R) and Shenzhen Mayor Chen Rugui (L) attend the Conference on International Exchange of Professionals (CIEP) that opened at the Shenzhen Convention and Exhibition Center yesterday.Hong Kong China News Agency

Three projects developed by Hangzhou Tiangu Information Technology Co. Ltd., Incus Technologies Co. Ltd. and Zhuhai Resproly Bio-Pharmacy Co. Ltd. were rated in the top three out of the 12 entries in the China region final of Pitch@Palace, which concluded at the Wuzhou Guest House in Shenzhen yesterday.

The projects cover biotechnology and diagnostics, cyber safety, data management and analysis, and education technologies.

The organizers selected 42 startup projects out of 30,000 applicants for the competition. The 42 projects were shortlisted to 12 in the final selection two days ahead of the start of the final.

Themed “The Future of Technology,” the contest was an important event under the ongoing Conference on International Exchange of Professionals (CIEP) in Shenzhen.

As a platform that is now active in 61 countries, Pitch@Palace gives Chinese entrepreneurs the opportunity to pitch their businesses in front of an influential audience of potential supporters, including CEOs, influencers, angels, mentors and business partners from across the world.

The contest serves as the qualifying round for Pitch@Palace Global, a British business incubating initiative established by the Duke of York in 2014. The top three winners will advance to the global final in the U.K. this December, where they will be able to reach the top global investors.

At a meeting with visiting Prince Andrew, Minister of Science and Technology of China Wang Zhigang expressed his hope that the China region contest will attract more entrepreneurs, scientists and innovators from the U.K. and China to participate in the program and promote Sino-U.K. cooperation.

Prince Andrew thanked China for its support with the program. Pitch@Palace is a global project that coincides with China’s Belt and Road Initiative, he said.

He hoped the program will contribute more benefits to people around the world through cooperation with China and other countries. He said Pitch@Palace will set up laboratories to incubate and transform scientific achievements in the future.

Prince Andrew (C), the Duke of York, poses with some winners of the China region final of Pitch@Palace at the Wuzhou Guest House in Futian District, Shenzhen, yesterday. The contest was an important event of the CIEP.Xinhua

“Shenzhen is a base and a gateway for global startup enterprises entering China’s market,” he said, adding that an innovation fund will be set up in Shenzhen and the leadership of Pitch@Palace will offer substantial help to the enterprises.

The global contest has provided support for 1,958 startup businesses around the world and helped build 13,000 value lines. Many enterprises have been acquired by world-renowned enterprises, such as Apple and Twitter, and the enterprises have received an accumulative 885 million pounds (US$1.16 billion) of investment.

Pitch@Palace is now being developed in 16 contest regions, including Malaysia, Australia, Singapore and China, and innovation projects from 61 countries and regions have participated in the prestigious contests.

The China final was first launched in October 2016, following the historic state visit of President Xi Jinping to the U.K., where the Duke of York made a commitment to play a key role in building greater connections between the U.K. and China.

This is the first time the China region final contest of Pitch@Palace has been held in Shenzhen.

This year’s CIEP has attracted around 4,000 organizations from 50 countries and regions, and 40,000 government delegates, scholars and high-end professionals.