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A competition aimed at encouraging innovative business proposals for mobile-based and other Internet start-ups has been launched by IDG Capital Partners.
The 2015 IDG China-US Campus Venture Contest is open to all undergraduates and graduate students in China and the United States. Contestants have from Feb 1 to Aug 15 to hand in their proposals. Only International Education is co-organizing the event.
The 50 best proposals will proceed to the next stage of judging in Beijing from Aug 27 to 28 but only 20 will make it to the final on Sept 20. The winning team will receive initial funding of $500,000 to $1 million, while the top five teams will get to participate in IDG FreeMan, IDG's youth recruiting program. Each recruit will receive an annual salary of $100,000.
Chinese students made up most of the attendees. They wanted to know how to get a business off the ground. They were also concerned about the state of the Chinese market and the country's business climate, said Zhang Lei, an official of IDG's marketing department.
- Li Xueqing
