HAIKOU, October 21. /TASS/. The final competition of Hainan's X Entrepreneurship Cup dubbed Hai Chuanbei was held October 18-19 at the University of Hainan. According to www.hinews.cn, 150 teams and a total number of 5,000 people took part in the finals, the prize fund amounted to 2,5 million yuan (about $ 357,140).
The tenth Entrepreneurship Cup started in June 2019. For 4,5 months, teams from all over China and from abroad took part in intermediate competitions: more than 70 different events were held, which made this year's cup the largest in history.
During the finals, each team presented their business project for five minutes, and afterwards hey answered the judges' questions. According to the news outlet, the participants were divided into groups and fought to win in their category, including “creative project”, “entrepreneurial idea to curb poverty”.
All in all, 1700 projects have been submitted. Among them, for example, was a plan for the breeding of crayfish on Hainan, taking into account the climatic characteristics of the island, a project to introduce advanced technologies in the villages of the province to improve quality of life, etc.
According to the organizers, the winning teams, which will be announced later, will not only receive a prize in cash, but also an opportunity to participate in the upcoming business meeting with potential investors this month. According to the news website, this will ensure practical implementation of their business ideas.