Facebook Twitter 新浪微博 Instagram YouTube Tuesday, Jan. 19, 2016
English>>People's Daily Online Exclusives

Startup contest in Silicon Valley bridges talents, VCs and ideas

By Han Shasha (People's Daily Online)    08:35, January 19, 2016
Startup contest in Silicon Valley bridges talents, VCs and ideas
The 6th North America Chinese Startup and Talents Summit attracts over 3000 attendees on Saturday in Santa Clara Convention Center, California. (People's Daily Online/Han Shasha)

San Francisco, Jan. 17, (People's Daily Online)——Twenty contesting entrepreneurial teams, 300 investors, 10 Chinese industrial parks and 3000 attendees gathered Saturday at the 6th North America Chinese Startup and Talents Summit in Santa Clara, California to witness innovation.

After pre-selection and semi-final, 20 finalists out of 50 teams competed on Saturday to win capital incentives, advices, preferential policies and other supports from mentors consisted of venture capitalists, former entrepreneurs, industry experts and administrators from technology and innovation parks in China.

Actually, before entering the final contest, the 20 teams were trained in an accelerator program, including business plan polishing , China market strategy, product and business model reassessment, presentation trainings, as well as market connections.

These 20 candidates at the final pitched investors and judges about their projects ranging from robots, wearable devices, APP, to imaging technologies for disease diagnosis. “Pervasive group: mobile parental control” team won a special award. While two robot teams got the first prizes, and one of them is "OneCook", a robot kitchen assistant that helps take care of cooking and free the real cook’s time.

Linquan Luo, Chinese consul general in San Francisco, delivered a keynote speech at the contest. He said that China is now making efforts to intensify structural reform, implement the strategy of pursuing innovation-driven development, and boost mass entrepreneurship and innovation.

He told People's Daily Online that the contest is not only a one-way test for the competing startups teams, but also a competition for investors and experts from China to seek good programs to invest in and lure talents to return to China.

Erica Huang, CEO of Techcode, an incubator platform, told the reporter that entrepreneurship and innovation is boundless. With more Chinese companies extending their antennas around the word and more talents going abroad, startups are more international. Compared to Wahaha, Lenovo, Haier and others, China has never stopped establishing new companies in the past 30 years. Now China needs to build a sound ecosystem to foster and develop startups.

Chaoyong Wang, president and CEO of China Equity Group, said that China has 5 developing trends during the past 30 years, and the future opportunities lie in venture capital plus Chinese talents. If good technology doesn’t match huge potential market, it will never makes great impacts.

Besides those contestants, the young entrepreneur group also highlights the summit. Averaging 12, there American born Chinese showed their services and products with innovative ideas and business acumen. Charles Wang, a nine-year-old boy starts an advertisement business with his another two friends with an age of 9 and 12. They planed to use the LED and laser to project the advertisement on the back of the privately owned cars. They will share the ads profit with each private car owner. “This idea was borrowed from Uber,” he told the reporter, “I am so happy to be one of the participants of the contest, from which I really learn a lot.”

The contest is organized by UCAHP (US-China Association of High-level Professionals, a professional group started by Tsinghua Alumni and serving global startup teams), SVC Angel Club/Fund, TEEC (Tsinghua Entrepreneurs and Executive Club), and ECPU (the Entrepreneur Club of Peking University.

Roy Kong, general secretary of UCAHP, said that the organization strives to foster collaborations on market and investment opportunities, career development for professionals and entrepreneurs between the United States and China.

The contest has entered its sixth year. The past five contests have drawn more than 10000 attendees, and more than 2000 startups teams. Among them, more than 200 teams have received initial funding or have initiated partnerships with China counterparts.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Yao Xinyu,Bianji)

Add your comment

Related reading

We Recommend

Most Viewed


Key Words