The first "Digital Economy·New Consumption" Global Scenario-Based Innovation Competition concluded Thursday in Haikou, Hainan province, bringing together international technology startups to showcase projects aligned with the Hainan Free Trade Port's industrial priorities.

The nearly year-long competition attracted 103 entries from 16 countries, with organizers holding preliminary events in technology hubs, including Paris and Silicon Valley. After multiple rounds of judging, 11 finalists competed in a pitch format, presenting projects spanning artificial intelligence, robotics, biotechnology, semiconductor packaging, and digital retail.

Judges evaluated participants on technology, commercial potential, team strength, and applicability to the market. Projects included AI-driven cross-border retail platforms, tropical agriculture pest control systems, and digital twin management for pharmaceutical cold chains.

Following the island-wide special customs operations on Dec 18, Hainan is positioning itself as a destination for digital economy investment through tax incentives and free trade policies.

"It's really refreshing to hear about the opportunities that Hainan provides in terms of the free trade port and its tax policies," Asal Askari, business operations lead of BrandPal Inc, said. She said her company is considering entering the Hainan market to serve global brands expanding into the free trade port.

Gavenraj Sodhi, founder of San Diego-based precision medicine company Maddie BioGenetics, cited Hainan's developing biotech sector and geographic advantages as reasons for interest. "Hainan is important in terms of geological location, and it is great place to build science, innovate, and manufacture and roll out to the world," he said.

Zhou Guangqi, vice-president of Haikou National High-Tech Industrial Development Zone International Investment Consulting Co, said the zone offers incentives, including technology innovation funding, talent development programs, and specialized support for biopharmaceutical companies. The zone also operates incubators and international service teams for entrepreneurs.