2018 OTEC Winners Awarded RMB 1 Million, with Nobel Prize Winners Attending the Innovation Summit

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Overseas Talent Entrepreneurship Conference (OETC), China’s largest international startup business competition came to a close on August 10. A team from Beijing won the global championship while an American and a British team took home the second and third place respectively.

Over 800 projects from 18 competition zones in 13 countries were submitted, and only 12 teams and their projects were selected for the finals. The champion team receives a service package worth one million yuan ($160,000) and others teams will receive entrepreneurship subsidies and services granted by the Chaoyang municipal government.

OETC was founded by the Beijing Chaoyang district government together with Beijing Chaoyang Overseas Talent Center. This year’s competition was co-organized by ZhenFund, Pegasus Brigade, and China Convoy Group, with other partners such as Venture Capital Organizations, Coworking Spaces including WeWork and Woo Space, HR Service Agencies as well as Embassies and Chambers of Commerce.

Since 2013, the Beijing Chaogyang Overseas Talent Center has successfully held the annual OTEC Innovation Summit for six consecutive years under the supervision of the district government. Around 18,000 entrepreneurs from over 20 countries and regions have participated in the competition which is part of the the summit. Throughout the years, over 400 projects received different levels of investment through the summit.

This year, the innovation summit welcomed top scientists and academics with the theme “Innovation Wins the Future”. Six Nobel Prize winners and academicians from the Chinese Academy of Engineering shared their latest achievements at the Nobel Prize Transformation Forum on August 10, while the opening forum and the ABC Forum on August 11 invited the winner of the 2015 Nobel Prize for Physics, Arthur B. McDonald, as well as other academics for in-depth discussions.

Speakers from top technology companies such as the Alibaba Group, JD.com, Internet and data center service provider 21Vianet Group and computer vision startup Deep Glint also shared their valuable insights during the event.

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