Contest spurs entrepreneurship, innovation in Luqiao | Updated: 2022-07-12

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A road show for 11 entrepreneurship and innovation projects was recently staged in Taizhou's Luqiao district.

The projects were selected from the 30-plus submissions for an entrepreneurship and innovation competition launched by the district.

The contest, which is in its fifth edition this year, aims to solicit projects in fields such as smart manufacturing, automobile and sanitary ware from around the world.

There will be one first prize winner, two second prize winners and seven third prize winners, according to the organizers.

The first and second prize winners will be included in the 500 Elite Plan, an initiative launched by the Taizhou municipal government to attract global talents, and be given a maximum of 26 million yuan ($4 million) in subsidies to start their businesses in the district.

In addition, the contest's top three winners can enjoy preferential policies, including 10 million yuan worth of low-interest loans, a housing allowance of 1 million yuan, and rent exemptions for a 2,000-square-meter office space for up to three years.

Fifteen projects have landed in Luqiao district as a result of the contest, and they have injected significant vitality to the district's high-end equipment, photoelectric information and new materials fields, according to official statistics.