The 6th China (Tiantai) Global High-end Equipment Innovation and Venture Competition is launched in Tiantai county, Taizhou, East China's Zhejiang province, on June 30. [Photo/taizhou.com.cn]

The 6th China (Tiantai) Global High-end Equipment Innovation and Venture Competition was launched in Tiantai county, Taizhou, East China's Zhejiang province, on June 30.

The contest, which consists of two sub-station competitions and a final competition, is meant to solicit entrepreneurship projects focusing on high-end equipment and intelligent manufacturing.

Participants will go through two sub-station competitions before reaching the final round. The evaluation process comprises on-site assessments and interactive defense sessions. Each project leader will have 8 minutes to present their project during the roadshow, followed by a 5-min interactive defense with the judges.

The sub-station competitions will be completed before the end of August, while the final competition will take place in September. The organizers will award first, second, and third prizes to two winners each, who will receive a significant entrepreneurial assistance fund, ranging from 1.8 million yuan ($248,849) to 10 million yuan.