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Yangpu News
“The 2nd Yangpu Star Entrepreneurs Contest” Ended...
Recently, the finals of “2017 Mass Entrepreneurship Support Program and the 2nd Yangpu Star Entrepreneurs Contest”, which was organized by the leading group responsible for talent development in Yangpu District, successfully concluded. Embedded artificial intelligence(AI) visual perception platform and other seven projects won the “Entrepreneurial Elite” awards. AI robot prosthesis and its neural control key technology and another project were awarded with “Entrepreneurial Tomorrow Star”. Each of the above-mentioned projects would be provided with RMB 200,000 offered by the district government. In addition, the other 120 projects in the finals’ offline road shows were respectively awarded with “Entrepreneurial New Comers”, “Entrepreneurial New Seedlings” and “Entrepreneurial Winning Prize”. Each of them would also get a bonus of RMB 150,000, RMB 100,000 or RMB 50,000. The district government prepared RMB 10 million to encourage entrepreneurship in our district.

Thousands of programs competing for millions of bonuses

On September 26th, Chen Qing, who was responsible for the “Scientific Compass” project, came to the site of finals early. He was the first one to put on the road show. According to him, the “Scientific Compass” project is a shared platform of scientific research equipment. One and a half years ago, his company joined TusStar. Since then, it had maintained smooth operation and established branch offices in Shanghai, Hangzhou, Nanjing, Beijing and Wuhan. Recently, his company had received a 10-million level financing. “The entrepreneurial environment in Yangpu District is very favorable. There are a variety of entrepreneurial ideas to exchange.” Chen Qing said.

Like Chen Qing’s projects, all the 30 projects stood out through multiple levels of screening. As learnt, since the beginning of the competition at the beginning of May and after the pee-registration, a total of more than 1,200 enterprises registered (innovative enterprises registering for no more than 5 years). The preliminary round started in the middle of July. Organizations including industrial parks and incubators would make a preliminary check. A total of 402 projects entered the online scoring stage of semi-finals.

From mid-August to early September, investors appraised and selected the projects. In the semi-finals, 402 projects were from various industries, such as information technology, culture and entertainment, energy conservation and environmental protection, advanced manufacturing, big data and medical industries, with a wide range and a diverse subdivision of industries. During 18 days, more than 130 judges reviewed and rated online on the basis of business plans and business information table. There were a total of nearly 30,000 scoring results. The system automatically generated ranking according to the scores. Enterprises entering the finals were selected in this way. A total of 120 projects stood out and qualified for the finals.

Li Hong, a member of the Organization Department of CPC Yangpu District Committee, said: “In order to further implement the overall requirements of Creating Yangpu Science Innovation Center and the National “Mass Entrepreneurship and Innovation” Demonstration Base, we will gather high-end talents and high-quality business projects in Yangpu District at a faster pace. In March 2016, the district committee and the district government introduced 16 new talent policies, covering the special support for the talents, talent incentives, personnel training platform, comprehensive personnel support services, etc. Among them, the support funds for mass entrepreneurship increased to RMB 10 million per year, which was used to support the “Mass Entrepreneurship Support Program” and the Selection of Yangpu Star Entrepreneurs among 100 entrepreneurship projects. We apply social evaluation, inviting more than 70 investment institutions, a total of more than 130 senior investors as judges. Through project review and online scoring, we hope to dig out outstanding entrepreneurial projects and entrepreneurial talents.

From September 18th to September 24th, road shows were be carried out at five places, the Academician Hall, the Cloud Valley, TusStar, Home Valley and Chuangchao. On September 26th, the finals started and the top 10 projects stood out.

Meticulous services help enterprises grow

As introduced, in addition to key projects, the contest was also focused on innovation and entrepreneurship talents. The contest made effective classification and corresponding evaluation on the basis of different levels of talent and enterprise development. In the group of newly-established enterprises, more emphasis was put on the their innovation; in the group of individual projects which had achieved innovative results in the subdivision in China, the emphasis was put on the practical performance of the talents and the market share of the projects. “Entrepreneurial Elite” award was provided to those which achieved leading innovation and entrepreneurship results in the subdivision in China. “Entrepreneurial New Comer” Award was provided to those which had mature products and commercial patterns and those which were experiencing rapid development; “Entrepreneurial Seedlings” Award was provided to those which had features, potentials and highlights; “Entrepreneurial Winning Prize” was provided to those which had a clear mode. Appraisal and selection were carried out on the basis of differences and details.

In addition, the contest also carried out in-depth cooperation with the third-party service agencies, establishing Yangpu Entrepreneur Service Alliance. An ecological cycle of incentives was created, with the government serving the enterprises, the institutions serving the enterprises, and the enterprises serving the enterprises, which gathered the social community to participate in and support the innovation and entrepreneurship. All participating enterprises would get one-on-one in-contest and after-contest counseling opportunities from investors and experts through the contest. In addition to the bonuses, the finalists would enjoy various benefits, such as the special support policy for innovative and entrepreneurial talents in Yangpu District, access to regular free share salons, joint investment and loan services of well-known banks and investment and financing advisory services.

Last year, Shanghai DaoCloud Network Technology Co., Ltd. (“DaoCloud”) was awarded with “Entrepreneurial Elite” in the first contest. It was founded at the end of 2014 and developed rapidly thanks to the attention and support from relevant parties. In 2016, DaoCloud achieved a sales revenue of nearly 10 million in less than 9 months. Their customers came from various industries, including automotive, finance, energy, education, etc. And they had established strategic cooperation with SAIC, the State Grid, the State Power, Fudan University and other institutions. At present, the company was preparing to introduce A + round and B round investment. It was expected to achieve RMB 40 million signed bills in 2017, and gradually achieve profitability.

“UCloud, Huizuche, Tiaotiao app, Star.V, Miaozhen Systems, New Science and many other enterprises have experienced surprising growth over the past years. The annual income of some enterprises has increased by 13 times, and some enterprises have become ‘unicorn’ businesses”, Li said.

Attract more outstanding enterprises 

Li Hong told the reporter: “It is necessary for enterprises to get bonus, that is, to register the business in Yangpu District. Last year, after the first Entrepreneurship Star Award, about 10 companies moved to Yangpu. Inspired by this fact, this year, we also propagandize the event to other districts, provinces and cities. About one-third of the enterprises are from places out of Yangpu. We hope that through this contest, we can make these enterprises feel the strong entrepreneurial climate in Yangpu District and attract more outstanding enterprises.”

Cheng Siqi, one of the participants, had been engaged in the paint industry for ten years. His company was registered in Changzhou. The birth of his daughter urged him to notice the wall, a platform for children to show their creativity. The project he brought was “HiPant”, a kind of transparent liquid that forms a protective film which could be erased after being written on the wall. The project won the unanimous affirmation of the judges and won him the title of “Entrepreneurial Tomorrow Star”. 

As a foreign enterprise, Cheng Siqi said that in the future, he would consider to settle his company in Yangpu incubator park and start a new challenge. “There are a lot of advantages to start an undertaking in Yangpu District for its adequate entrepreneur resources, widely distributed science-and-education oriented universities and talent pools, which can support the start-up businesses”.

As learnt, after the contest, the relevant departments would focus on the key objectives of “Initially Establishing Innovative and Entrepreneurial Base”. Follow-up work would be carried out to promote the innovation and entrepreneurship in Yangpu District, mainly in four aspects, the effectiveness of policy support, the creation of mass entrepreneurship brand, the stimulation of innovation and vitality, and the cultivation of typical talents. 
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