The inaugural China Linhai Global High-Level Talent Entrepreneurship and Innovation Competition is launched in Suzhou, East China's Jiangsu province on Sept 17. [Photo provided to chinadaily.com.cn]

The inaugural China Linhai Global High-Level Talent Entrepreneurship and Innovation Competition was launched in Suzhou, East China's Jiangsu province on Sept 17, local media reported.

The contest, meant to solicit innovation and entrepreneurship projects, is part of Linhai's efforts to lure global talents.

The event will be composed of two parts: preliminaries and final. The preliminaries will be held in three cities, namely Suzhou, Wuhan and Shenzhen.

Meanwhile, an online contest will also be launched in European and American countries.

Sixteen entrants took part in an on-site defense in Suzhou, the first stop of the competition, and four were selected to attend the final scheduled to be held in Linhai in the first half of October.

The first prize winners of the final will obtain prize money of 50,000 yuan as well as government subsidies of up to three million yuan on the condition that the project is included in the 500 Elite Plan, an initiative launched by the Taizhou municipal government to attract global talents.

Linhai, situated in Taizhou, Zhejiang province, has a population of 1.2 million, a land area of 2,250 square kilometers and a sea area of 1,590 square kilometers.

As a pioneer in reform and opening-up, China's first joint-stock enterprise and farmers' cooperative was established in the city. The country's first car produced by a private company was also in the city. It now is home to two provincial economic development zones, namely Toumen port economic development zone and Linhai economic development zone.

In 2018, Linhai ranked 45th among all counties nationwide in terms of comprehensive economic strength.