5 Beijing startups head for seed-money showdown

Beihang University, one of China's top science and technology institutes, held the Beijing heat of a competition for tech startups on Thursday.

Five winning enterprises were selected from 12 entrants at the capital's National Convention Center.

Their employees will now receive intense training with peers from other cities — Kunming, Chengdu, Xi'an, Tianjin, Hangzhou, Yan'an and Shenzhen — and Silicon Valley in the US before a final later this year.

The winner will receive funding from a seed-money foundation and other financial support, according to a news release from the university.

Beihang University has been named by the central government as a model in terms of sci-tech innovation and helping staff members and students start businesses.

In the past four years, the university has offered support to 75 high-tech companies founded by Beihang students, the news release added.