The final round of a sub-division of the 2018 Xi'an International Entrepreneurship Competition closed on October 23 at Silicon Valley in the United States, and programs with intentions to settle in Xi’an will receive financial support from local governments.

The mode "5+3" (5-minute roadshow and 3-minute defense) was adopted, with 5 senior insiders in fields of advanced manufacturing, biomedical technology, information technology and investment serving as judges.

The projects were scored on various aspects including specialties, competitive advantages and technological barriers in the respective fields as well as financial status.

Intentions to settle down in Xi’an and marketing plans also contributed to the ratings.

A total of 20 projects entered the final competition, most in the fields of bio-medicine, information technology and advanced manufacturing of new materials.

Luojia Proton Technology Company, which provides online monitoring services for accurate proton therapy, took first place.

The company’s technology should contribute to lowering medical costs and obtaining better accuracy.

The competition, sponsored by the Xi’an government, is an annual event for outstanding worldwide innovation and entrepreneurship projects.

This year’s competition focused on gathering global resources and building entrepreneurship capital, and intended to attract innovative talents and bring in advanced technologies and projects, as well as investments in the city.

An important section of this competition, the Silicon Valley sub division, was co-organized by the XJX 1896 incubator and the Silicon Valley offshore innovation center of the Xi'an hi-tech zone.

According to the sponsor, projects intending to settle in Xi'an will receive financial support including two-year free offices from local governments. Programs in desired industries with advanced technology and great market potential will be able to obtain as much as 1 to 50 million yuan ($143,951 to $7.2 million) investment.

The final sub-division round of the 2018 Xi'an International Entrepreneurship Competition closes on October 23 at Silicon Valley, USA. [Photo provided to chinadaily.com.cn]