Youth entrepreneurship competition starts in Beijing

A nationwide youth entrepreneurship competition kicked off on July 9 in Beijing, where young people can exchange projects, get business guidance, and find financial resources.

"The competition not only brought us highly efficient financing, but also greatly helped improve our brand awareness," said Li Huang, a co-founder of Guangzhou Hexinglong Food Science and Technology Ltd Co, a vegetable planter and processor that won the agriculture group's top prize in last year's competition.

The competition is now receiving application at its official website (http://cxcyds.zgqncyxd.cn/) from now on till August 31.

People who are under 35 years old and teams with average ages under 35 are allowed to sign up for the competition, which especially welcomes projects in line with China's industrial transformation and upgrade.

The competition will have provincial and national categories. The provincial-level contests will be held from Sept 1 to Oct 15, and then the national contest from late October to late November.

The national contest will be divided into three categories: business, agriculture, and Internet, with projects of each further divided into three groups: innovative ideas, start-ups and established enterprises.

The competition will evaluate all the projects and give winners awards including bonuses and goods. In addition, winners will also be provided free incubation space by CITIC Guoan Group and You+ International Youth Community.

"Young people should be down to earth in the entrepreneurship process," said Qin Yizhi, the First Secretary of the Central Committee of the Communist Youth League, which organized the competition.

Qin added that the Youth League will take the competition as a chance to provide young people with services and support, and promote innovation and entrepreneurship among young people.

The competition, the second of its kind, is sponsored by China Post Group and Shanghai YanShang Corporation, with 36 Kr, Fahai.com, Concordya Inc, and hunteron.com offering free services in investment and financing, legal consultation, financial management, and human resources.

Qin Yizhi, the First Secretary of the Central Committee of the Communist Youth League, delievers a speech at the launching ceremony of the Second China Youth Innovation and Entrepreneurship Competition taking place on July 9, in Beiing. [Photo by Zhao Qian/China Daily]