The semi-finals of the fifth Shanghai Global Talents Innovation & Entrepreneurship Competition open in Shanghai on Aug 1. [Photo/sh.chinanews.com.cn]

The semi-finals of the fifth Shanghai Global Talents Innovation & Entrepreneurship Competition opened on Aug 1 at Elite Valley in Shanghai. Over the course of four days, 914 high-quality projects from around the world will compete to secure a place in the global finals.

As a major international competition, it focuses on promoting the deep integration of innovation, industry, capital, and talent chains. The event aims to serve as a benchmark platform that gathers global talents, technologies, funds, and projects in Shanghai, enhancing the city's influence as an innovation hub.

Since its global launch in March, the competition has attracted widespread attention from innovators and entrepreneurs worldwide. This year's competition set a record with more than 14,000 projects submitted. Following intense competition, 914 projects advanced to the semi-finals. The projects focus on cutting-edge technologies closely aligned with Shanghai's key industrial sectors, including artificial intelligence, biomedicine, integrated circuits, intelligent manufacturing, and green environmental protection.

The competition offers substantial financial support for winning projects and participants. Awardees can apply for talent credit loans of up to 10 million yuan ($1.39 million) and enterprise credit loans of up to 30 million yuan. High-tech enterprises and specialized, refined, distinctive, and innovative small and medium-sized enterprises (SMEs) that meet specific criteria may be eligible for credit loans up to 50 million yuan or even up to 100 million yuan.

Enterprises founded by semi-finalists who meet relevant requirements can access loan guarantees of up to 100 million yuan. Moreover, winners and their employees are eligible for personal low-interest credit loans of up to 1 million yuan, along with complementary services such as housing rental subsidies and insurance protection.

In terms of industrial support, award-winning participants who have not yet registered their companies in Shanghai can receive up to 300 square meters of free office space at the innovation and entrepreneurship demonstration base. Organizers also offer direct policy access services to help eligible enterprises quickly connect with government programs designed for high-tech companies, technology-based SMEs, and specialized innovative SMEs.

Qualified award winners are eligible for inclusion in relevant talent introduction plans and may apply for talent residence permits. They will also receive priority when applying for talent apartments at both municipal and district levels. In addition, winning teams gain membership in the Shanghai Global Talents Innovation & Entrepreneurship Association, which facilitates access to development resources in Shanghai. Gold, silver, and bronze award winners will receive subsidies of 100,000, 50,000, and 30,000 yuan, respectively.

To further encourage talent attraction, the competition has launched a referral reward policy. Institutions or individuals who recommend qualifying projects can receive referral rewards of up to 500,000 yuan. Additionally, the competition offers broader platforms for winning projects, including opportunities to participate in industrial matchmaking conferences and obtain media exposure to promote subsequent development.

The competition is a flagship talent program of Shanghai, reflecting the city's open and inclusive approach to innovation and entrepreneurship. Shanghai is committed to creating a supportive environment where talents worldwide can find a platform to realize their ambitions and achieve their dreams.