To attract more high-caliber personnel to start businesses in Binhu, the district launched an entrepreneurship competition in Shanghai on Sept 5.

The competition targeted innovation and entrepreneurship projects related to the integrated circuit industry, aiming to facilitate the development of emerging industries in Binhu with talents and projects from cutting-edge technological fields.

High-caliber personnel who have entrepreneurship experience at home or abroad, and are willing to develop their projects in Binhu, were welcomed to participate in the competition.

The participating projects should feature high tech and bright market prospects and be developed by a team whose leader is under 55 years old and has master's degree.

The competition is set to collect 160 entries, 60 of which will be presented in domestic on-site roadshows and overseas online roadshows, and will select about 30 projects to compete in the semi-finals and finals.

The awarded projects will enjoy financial support ranging from 500,000 yuan ($70,627) to 1 million yuan and various favorable policies after their settlement in Binhu.

Wang Weilun, vice director of the district, discussed Binhu's industrial developments and advantages, such as complete infrastructure and quality services, at the launch ceremony.

Attendees also gained a better understanding of Binhu's talent policies and industrial policies through the organizers' introduction.