Masters & PHD teams building innovative technology startups can now qualify to receive as much as US$30,000 and additional grant funding by participating in the upcoming Hangzhou Innovation & Entrepreneurship Competition for Overseas Talents (HIECOT).

The competition, hosted by the Hangzhou government and GITP Asia, aims to discover incredible talent globally, and assist them with their expansion plans into China.

Total of 370,000 RMB (US$85,000) Allocated to Top Startups

For 2022, HIECOT will allocate over US$85,000 in cash rewards and support to the top qualifying startups.

Participating startups will go through a 4-stage qualification process where the top performers will receive cash prizes, as well as unparalleled exposure and market entry support into Hangzhou, the home of Alibaba.

Cash prizes to qualifying startups are as follows:

• 1st Prize: US$30,000 + additional grant funding
• 2nd Prize: US$15,000 + additional grant funding
• 3rd Prize: US$7,500 + additional grant funding
• 4th Prize: US$3,000 + additional grant funding

Qualifying startups will also receive huge amounts of exposure and market expansion support in the following areas:

• Incorporation and company establishment in Hangzhou
  
• Visa and Immigration support
• Entry for Scientific Research / IP protection
• Valuable connections with investors, government representatives, and local clients
• Product commercialisation and distribution support

HIECOT Eligibility Requirements

HIECOT will focus on startups building innovative technologies in the following industries: 

• Information Technology: Artificial intelligence 
• Information And Communication Equipment: 5G
  
• Construction And Manufacturing Equipment: CNC machine tools
  
• New Materials: Nanomaterials, special glass
  
• New Energy: Solar energy, wind energy
  
• Semiconductor Technology: Photoelectric chip
  
• Biotechnology: Gene sequencing
  
• Pharmaceutical Manufacturing: Innovative drugs, diagnostic equipment
  
• Aerospace: Rocket, satellite
  
• Energy Saving And Environmental Protection: Waste treatment

Applicants must meet the following eligibility criteria to participate:

• Must own at least 60% of the shares of the company or project.
  
• Must be a Masters or PhD holder.
• Must be a foreign company or individual outside of Mainland China. Participants from Taiwan, Macao and Hong Kong are also accepted.
• Have a project that holds promising innovation in any of the industries listed above.
• Have an interest or willingness to commercialise and land projects in China.
• Have not previously participated in any of the past editions of the Hangzhou Innovation & Entrepreneurship Competition for Overseas Talents.

Applications Closing 30th June

With Hangzhou quickly rising to become one of the largest cities for innovative startups, HIECOT presents a phenomenal opportunity for startups to enter the lucrative Chinese market and tap on the vast resources provided by the local government for tech-related projects.

While participating in HIECOT is completely free-of-charge, the closing date for applications is 30th June 2022.

• Screening sessions taking place from July – August 2022
  
• Preliminary sessions will be held from August – September 2022
• Semi-Finals to be organised in October 2022 
• Finals to take place in November 2022

Interested individuals / teams can apply to participate in HIECOT by filling up the following application form (a representative will be in contact after submitting the application).