Scouting for Shaoxing Global Innovation and Entrepreneurship Competition

A success case between

 

Introduction

Shaoxing is a prefecture city in Zhejiang Province, far from the big and well-known Chinese cities like Beijing, but quite close to Shanghai.

Currently, the number of startups created in China is above that of the United States, with almost 4.5 million and an increase of more than 20%.

Shaoxing is interested in actively participating in that growth. In the city an ideal environment is being created to facilitate entrepreneurs’ achievement of their objectives, through government aid.

The Challenge

This past October was held the final act of the Shaoxing Global Innovation and Entrepreneurship Competition.

The goal of the event was to attract the most qualified and innovative talents and work teams from anywhere around the world and offer them to start or continue their projects there, thus contributing to the technological acceleration of the city.

And within this search, the industrial sectors in which the focus has been placed included:

Artificial Intelligence

Information Technology

Life Sciences

New Materials

The programme is a great opportunity in two directions:

1.

For the city it means getting in touch with a significant amount of talent.

2.

The participants are allowed to settle there and get to know the Chinese market in depth.

The great challenge of this competition, for local authorities, was to attract true talents in number and quality, ensuring globalization and multiculturalism, seeking, for this, startups interested around the world. And for this they have had the collaboration of Peninsula.

Traditional channels managed to get some dozens of companies to attend the previous editions, so for this, an innovative process was proposed, which would increase the recruitment and allow a better selection of candidate companies.

The Solution

Peninsula designed a search and selection process that would increase the number of participating companies to several hundred. But the process also includes a complete analysis that significantly improves the quality of the companies that access the final phase.

The competition was activated in different cities of the world, including some European cities such as London and Barcelona, in which the semifinals were developed, in addition to including 2 online processes.

This process has been developed in collaboration with Homevalley, a business services platform headquartered in Shanghai, in the city’s central district. It has the support of the municipal government, which gives it access to important resources in technology and marketing, seeks to serve highly talented startups; It also has resources in the Americas and business connections in Silicon Valley, New York and Vancouver and Toronto.

It offers professional services with an industrial base, training, corporate consulting and investment. And from its base in Shanghai, it helps the most exceptional minds to develop their ideas and create an international network of talents.

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Peninsula led, along with Homevalley, the processes of attracting and selecting interested companies, leading them to participate in the first Demo Day online experiences.

Two of these sessions were held and required an important coordination of the participating entrepreneurs and also a significant workload for the judges who, gathered and connected through a webinar, carried out their analyzes and assessments.

Companies had to present a feasibility plan that included:

A technological project

Market Research

Business Strategy

Financing

“The government sector considers very important to have resources that allow it to face, at all times, changing market situations and access the best candidates in the sectors of interest. The collaboration with Peninsula and Homevalley has given the contest the flexibility and adaptability necessary to achieve that goal.”

Dongxue Wang - Partner @ homevalley Tweet

The Results

As a conclusion of the collaboration with Shaoxing Global Innovation and Entrepreneurship Competition, 8 companies were chosen in the first session and 12 in the second.

These 20 companies were selected to participate in the final, which took place at the end of October in Zhejiang, China.

The final winning startups were:

1st place

Minisilicon (China)

Award

500.000 RM

2nd place

Robtex (China)

MiniMoto (China)
杭州摩兽科技有限公司

Award

300.000 RMB 

3rd place

Smart City Box (China)
成都云图睿视科技有限公司

Emotion Research Lab (Spain)

单光子APD探测芯片产业化 (China)

Award

200.000 RMB

This experience has allowed Peninsula to expand its international activity and its presence and collaboration in high development environments in Asian countries.

In Peninsula we are motivated by challenges. Therefore, if you have any project in mind related to growth and innovation in your company, do not hesitate to contact us.

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