The 2018 Innovation and Entrepreneurship Competition for University Students from Guangdong, Hong Kong, Macao and Taiwan, an event to select and aid innovative projects from the Guangdong-Hong Kong-Macao Greater Bay Area and Taiwan, was recently launched in Guangzhou University Town.

The launch ceremony was attended by Lin Weichang, head of the United Front Work Department of the Panyu district Party Committee of the CPC; Zhu Ruiwu, deputy head of Panyu district; guests from universities in Guangzhou University Town, Hong Kong, Macao and Taiwan and company representatives from those regions.

The launch ceremony of the 2018 Innovation and Entrepreneurship Competition for University Students from Guangdong, Hong Kong, Macao and Taiwan is held in Guangzhou on July 2. [Photo provided to chinadaily.com.cn]

The event is mainly targeted at forward-looking and innovative technology companies and will offer a total award of 400,000 yuan ($60,000) for high-quality projects.

The competition will be held from July to December this year and will be divided into four stages: online judging, preliminary competition, rematch and finals.

The organizers will provide entrepreneurial guidance, policy support, entrepreneurial exchange, match-makings for investment and financing, entrepreneurship training and other professional services before, during and after the competition. Excellent teams will also be selected to receive more services and support from Panyu district.

Participants pose for a group photo. [Photo provided to chinadaily.com.cn]

The competition has been held for four consecutive years by the Guangzhou municipal government and Guangzhou University Town Management Committee. More than 2,100 high-quality projects participated and over 600 projects from Hong Kong, Macao and Taiwan were bridged to the market.