The winners of the 10th China Innovation & Entrepreneurship Competition (Beijing Division) (CIEC Beijing) were announced on Jan 13 in Beijing.

Sixty projects were selected for the competition and 14 companies won first prize.

The awards ceremony for CIEC Beijing is held on Jan 13 in Beijing. [Photo provided to chinadaily.com.cn]

CIEC Beijing is divided into four industry competitions: new-generation information technology, biomedicine, high-end equipment manufacturing and new energy. More than 700 innovative and entrepreneurial enterprises in Beijing signed up for the event.

In addition to 60 projects winning awards, the competition also recommended 32 winning companies to be shortlisted for the national competition, and 24 companies won awards.

CIEC Beijing has gathered projects from high-precision and sophisticated fields such as organoid chips, quantum computing, photoresistors, and satellite Internet of Things. Twenty-five percent of the participating companies are from professional incubation service institutions. The participating enterprises included 177 national high-tech enterprises; these enterprises own 1,666 intellectual property rights, including 631 patents.

The competition has received extensive attention and support from all walks of life. Bank of Beijing provided exclusive low-interest rate loan services of up to 5 million yuan ($787,000) for the winning projects. Institutions such as CASStar and Beijing Investment Group Innovation Park provided customized training services for participating companies.

After the end of the season, relevant institutions will continue to provide entrepreneurial mentoring, early investment, resource docking and other services for participating companies to help them grow faster.