NANJING, May 13 (Xinhua) -- Wuxi, located in east China’s Jiangsu Province, announced a contest worldwide on proposals for high-quality projects on the Internet of Things (IoT), with the final winner able to obtain at most 10 million yuan worth of financial support.
The World IoT Exposition, co-hosted by the Ministry of Industry and Information Technology (MIIT) and People’s Government of Jiangsu Province, will be held in September in Wuxi.
Jiangsu Venture Capital Association, the financial service center for enterprises in Wuxi and Wuxi New District Linghang Investment have jointly initiated the contest, expecting to attract high-quality IoT projects to settle in Wuxi and promote the development of IoT industry as well as related enterprises.
The contest is composed of three stages, namely the preliminary, semi-final and final. 10-15 preliminaries are likely to be held at the initial stage. Winners, who will be chosen during the final in the World IoT Exposition, will get at most 10 million financial support, including loans, equity investment, debt investment and fund investment.
According to Zhang Hongjun, director of the financial service center for enterprises in Wuxi, while focusing on the IoT and related industries, the contest invites proposals worldwide, and attracts a variety of investment institutions including government-guided equity investment institutions, market-based investment institutions, financial institutions of direct financing and indirect financing, and it will be carried out both on line and offline.
Wuxi, the sole national sensor network innovation demonstration zone, is the highland of China’s IoT industry. By far, IoT enterprises in Wuxi have approached 2,000, with the number of employees surpassing 150,000 and revenues exceeding 200 billion yuan. IoT projects in Wuxi have covered over 20 provinces and cities domestically and 200 cities globally.
Now the contest registration has started. Those who have high-quality IoT projects can apply to the financial service center for enterprises in Wuxi and various financial institutions which are the former’s cooperative partners via sending registration emails to wxjrfw@163.com. (Edited by Zhang Yuan, zhangyuan11@xinhua.org)
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