By Xuefei Chen Axelsson
STOCKHOLM, Feb. 10(Greenpost)—2018 Win in Suzhou Venture Contest for International Entrepreneurs(European Life Science) was launched on Thursday(Feb.8) in Stockholm, capital of Sweden.
Dai Gang, Counselor of Science and Technology from the Chinese Embassy in Sweden attended the launching ceremony. He encouraged students, scholars both Chinese and Swedish to actively participate in the contest because Suzhou city is a good place to live and work. The living and working environment there is very good and the local government gave a lot of preferential policies in attracting talented people.
Lin Yingbo, Executive Director of Nordic Chinese Innovation and Startup Association said 2018 Win in Suzhou Venture Contest for International Entrepreneurs will be organized by Suzhou City. This is the first time when a field specific event is included in the contest, which is one of the ten Venture Week in Suzhou.
The contest including the Venture Cup and the Innovation Track, will be held on May 26 this year at Karolinska Institute in Stockholm, Sweden.
The contest focusing one the field of life-science including pharmaceuticals and biotechnology, diagnostics, medical devices, health care IT, precision medicine, health care services, ageing as well as all other aspects related to healthcare.
This year’s prize is much bigger than the previous one. The first prize will be 50 thousand yuan or about 6000 Euro plus 200 thousand yuan or about 24 thousand Euro Angel Investment. Moreover, all the participants can get the chance to participate in Venture Week in Suzhou(July 10 to 12th). The organizers also encourage entrepreneurs in other fields than Life Science to join the competition for the 2018 Win in Suzhou Venture Contest for International Entrepreneurs (European region) held in May 27th 2018 in Frankfurt, Germany.
All innovative entrepreneurs and projects are welcome to the contest. Additionally, we provide a parallel Innovation Track. This track is open to projects with clear commercial potential but still require further development or to companies looking to collaborate with domestic companies in the Chinese market. There will also be technical upgrade intentions raised by life-science companies in Suzhou published on the official website (www.LSciVentureCup.com) and call for technical solution proposals.
The contest is open for registration from February 1st to April 15th, 2018. Application forms are available on the official website (www.LSciVentureCup.com), you can either register online or email the forms to contact@LSciVentureCup.com or firstname.lastname@example.org . The ones submitting earlier can be reviewed earlier.
For details, you can look at the following carefully.
- Evaluation Period (Feb 1st to Apr 15th, 2018)
Applications will be reviewed continuously by the organizing committee. Projects selected will be offered the opportunity for mentorship and one-on-one counseling for the competition event.
- Paired Challenge (Mar 1st to Apr 15th, 2018)
Projects selected and their mentors will be invited to participate in online company-company presentation challenge event. Companies will be paired and take turns challenging each other’s business plans at this event. One company challenges the other, then the other way around. Company performance at this challenge event will form the basis for further selection.
- Presentation and Award (May 26th, 2018)
The top 10 projects will be invited to participate the presentation and award event in Stockholm. A panel of external judges will evaluate plans and presentations with the prices awarded at the event.
- Innovation Track
In the innovation track, participants are invited to submit project proposals no later than Apr 30th, 2018. Brief summaries of all project proposals will be distributed to relevant life science enterprises and research organizations in Suzhou by Suzhou Human Resources and Social Security Bureau (SHRSSB). There will also be technical upgrade intentions raised by life-science companies in Suzhou published on the official website and call for technical solution proposals. The Organizing Committee will assist with negotiations and provide the platform for both parties to establish cooperation.
- Awards and Policies
- For all registered participants for both venture competition and innovation fair track.
All applicants will be registered by the Suzhou City in their Human Resources Bank. Qualified projects will be invited to attend the Venture Week in Suzhou July 2018, when the participates will have an opportunity to visit different business incubators in Suzhou and be introduced to local venture capital investors. The government of Suzhou will provide accommodation free-of-charge together with a subsidy of USD 500 dollar towards travel expenses.
- Winners of the Venture Cup
The European Life-Science Venture Cup competition will award 10 prizes together with certificates of participation to all presenting companies. One representative for each project will be invited to attend the final competition in Stockholm, Sweden. The organizers will provide a travel subsidy of EUR 200 for participants from the Nordic countries, and no more than EUR 300 euros for participants from other countries, food and accommodation will also be covered by the organizers.
- First, second and the third prize winners
The European Life-Science Venture Cup Competition prizes are:
First prize: 50 000 CNY (awarded to one project)
Second prize: 30 000 CNY (awarded to two projects)
Third prize: 10 000 CNY (awarded to three projects)
First, second and third prize winners have an opportunity to apply for up to 10 million CNY of government-controlled venture capital investment; up to 5 million CNY of secured financing loans; and an allowance of 300,000 CNY for R&D. Winners who choose to reside in Suzhou will be granted residence permit. They and their family members will also receive the same privileges as citizens for medical care, housing and school enrollment for their children.
Winners of the first, second and the third prizes are qualified to attend the “Win in Suzhou” Venture Contest for International Elites Final (July 2018 in Suzhou during “Venture Week in Suzhou”) competition.
More information is available on the official website: www.LSciVentureCup.com
Text/Photo by Xuefei Chen Axelsson