The launch ceremony of the 2025 Pudong New Area "Pearl Cup" Entrepreneurship Competition. [Photo/WeChat ID: pudongtalenthub]

The 2025 "Pearl Cup" Entrepreneurship Competition, now in its second year, was recently launched at Zhangjiang Science City in Pudong New Area, Shanghai.

This year, the competition aims to attract global scientific and technological talent by enhancing its "competition as evaluation" mechanism and strengthening the synergy between competition and investment. Winners may also be considered for inclusion in Pudong's prestigious "Pearl Talent Plan".

At the launch ceremony, the "Pearl Maker" entrepreneurship incubation brand was unveiled, alongside the inauguration of the "Pearl Maker • Lu Chuang Camp" incubation base.

The base aims to provide a full-chain incubation service, integrating space, capital, technology, talent, and market access. Collaborations with universities, research institutes, and financial institutions will host industry forums and other activities to promote innovation in Pudong.

The initial batch of winning projects from last year's competition signed agreements to set up operations in this base, supporting entrepreneurial talent and helping Pudong become a leading international talent hub.

The competition targets key industries like integrated circuits, biomedicine, and artificial intelligence, aligning with Pudong's "Pearl Talent Plan" to recruit elite talent and engineers.

The "Pearl Cup" serves as a selection channel for this plan. Last year's event attracted 619 projects, with 72 receiving awards. This year, the number of awards will increase to approximately 100, featuring an upgraded reward mechanism, including low-rent entrepreneurial spaces and substantial subsidies.

Awards this year include the First Prize, Second Prize, Most Promising Overseas Returnee Team Award, and an Excellence Award.

Participants can receive up to 2.5 million yuan ($348,960.21) in funding and up to 10 million yuan in investment support. Additionally, Zhangjiang Science City provides up to 3 million yuan in subsidies for startups. Entrepreneurs will have access to rental spaces at a low cost of 1 yuan per square meter per day, with outstanding projects potentially enjoying rent-free spaces at the "Pearl Maker" startup incubation base.

The competition will also introduce overseas sub-competitions, allowing international projects to advance directly to the semifinals.

The "Most Promising Overseas Returnee Entrepreneurial Team Award" will provide a one-time grant of 400,000 yuan and investment support of up to 2 million yuan. The "Elite Talent Bole Award" will recognize individuals who promote external talent, offering them opportunities to join the "Pudong New Area Global Talent Partner Program (GTP)."

Pudong is leveraging State-owned venture capital to support strategic emerging industries by increasing backing for seed and early-stage projects. Winning projects are eligible to receive investment from the Pudong Angel Mother Fund and the Pudong Pearl Talent Seed Fund. Last year, 13 talent projects secured investments, with more forming investment intentions.

"Pudong offers us more than just a favorable industrial ecosystem; it provides comprehensive support for cutting-edge technology enterprises. After winning the 'Pearl Cup' last year, the Pudong Talent Bureau efficiently implemented support policies, including cash rewards, housing subsidies, and significant equity investment from state-owned funds," said Xiong Yinjiang, founder of Lightstandard, a tech company dedicated to building a new AI computing paradigm based on light as the standard.

During the event, major investment agreements were signed with previous winners, including companies like Lightstandard and EnterSpace. These partnerships demonstrate Pudong's commitment to fostering innovation and supporting new enterprises.

"We are a company focused on the development of high-precision advanced satellites. Thanks to participating in last year's 'Pearl Cup' Entrepreneurship Competition, our team has gained a lot, and we have also received capital support from Pudong's state-owned assets," said Chen Hongyu, founder of EnterSpace. "Especially with Pudong's practical policies for scientific and technological talent, we have now established a new company in Pudong as our headquarters."

This year's competition has invited professional investors and industry experts to serve as judges and will include various stages, concluding in December, with applications open for personal and institutional recommendations or online self-registration.

Please scan the QR code to register and ensure your registration is completed by Aug 15.