A press conference of the first Global Best Innovation 100 Competition takes place in Beijing Diaoyutai Hotel on July 19, 2019. [Photo provided to chinadaily.com.cn]

The first Global Best Innovation 100 Competition (GBI 100 Competition) officially starts in August.

For this year's competition the organizing committee is offering 100 award winning opportunities, with a top prize of 1 million dollars.

The event is intended to strengthen intellectual property protection and fair trade, gather together frontier science and technology achievements on a large scale, and promote the industrialization of the achievements in China and even the world.

The themes of this year's GBI 100 Competition are "Global Linkage, Frontier Focus, CBT 100 Investment and Transformation Orientation". The focus is on attracting projects in four major fields - artificial intelligence and information, life sciences and health, new energy and new materials, cultural creativity, film and e-sports.

The competition consists of three rounds - Preliminary, Rematch, and the Global Grand Final. It covers both international and Chinese divisions, with the former one including multiple competition zones set up in America, Europe, Oceania and Asia, and the latter one including competition zones set up in major Chinese cities such as Beijing, Shanghai and Shenzhen.

The grand final of the competition will take place on Dec 6 to 7 in Xishan district of Wuxi, and will be held in alliance with the CBT 100 Company Forum and the CBT 100 City Comprehensive Development Forum.

According to its organizing committee, this year's competition is expected to gather together a wide range of high-quality resources from around the world. It will be characterized by practicability, strategy-oriented investment, diversified projects and multiple award-winning opportunities.

The judges of the competition consist of investment practitioners from CBT 100 companies and CBT 100 funds, as well as well-known domestic and foreign investment institutions.

Direct investment will be devoted to outstanding projects. Project investments will consist of both long-term strategic-led investments by the industrial capital of CBT 100 companies, and short to medium-term financial investment by the financial capital of various investment funds.

The competition is expected to attract both domestic and international projects undertaken by either individuals or teams. Project stages will include Start-up, Round-A and Round-B, as well as later rounds.

The competition has arranged a total of 100 awards, including the GBI 100 Diamond Awards, Gold Awards, Silver Awards, Bronze Awards, Excellence Awards, and Finalist Awards. In particular, the GBI 100 Diamond Award is worth 1 million dollars, larger than the money given for the Nobel Prize.