Sci Innovation competition returns to Toronto
Sci Innovation Centre and the Canada Confederation of Shenzhen Associations search for new innovation champions
Flagged as the ‘only competition if its kind’ in the country, The Second China (Shenzhen) Innovation & Entrepreneurship International Competition, also known as the ‘Global Olympics of Innovation’ – will be held this spring in Toronto.
Open to high-caliber entrepreneurs and projects across Canada, the event aims to promote the integration of human resources, technology, capital and attract more overseas entrepreneurs to start business or seek cooperation in Shenzhen, China.
The Second China (Shenzhen) Innovation & Entrepreneurship International Competition, Toronto Division (Sci Innovation Competition), will be held on March 24th, 2018. Assembled by the Sino-Canada International Innovation Centre (Sci Innovation Centre) and the Canada Confederation of Shenzhen Associations (CCSA), the competition will offer generous prize awards totaling $ 2.09 million CDN. A venture capital pool of RMB 20.9 billion (4 billion CND) has been set up by 34 investment institutions, which helps support outstanding projects and direct funding to emerging innovative technology focused companies.
Initiated by the Municipality of Shenzhen, the competition is sponsored globally by local governments in Toronto, Silicon Valley, Sydney, Tokyo, Boston, Tel Aviv, London, Stockholm and Berlin. As for the Toronto component of the event, the competition will feature 20 finalists from Canada that will pitch ideas to a panel of high profile judges and first, second, and third place prizes will be awarded. Ten of these will be qualified for the ‘Industrial Finals’ and ‘Grande Finals’ of the Second China (Shenzhen) Innovation & Entrepreneurship International Competition in Shenzhen in April 2018.
Opportunity for companies to build their profile in China and worldwide
“Toronto is proud to again be part of this competition, which provides an exceptional opportunity for our companies to build their profile in China and worldwide,” stated City of Toronto Deputy Mayor Denzil Minnan-Wong. “This initiative demonstrates how Toronto and Shenzhen are forging strong mutual business relationships through the innovations of our city’s diverse start-up community.”
This year the Sci InnovationCompetition is partnering with Toronto-based MaRS Discovery District, one of the world’s largest urban innovation hubs supporting innovators and entrepreneurs. The partnership will see MaRS host the competition at their downtown Toronto facility and promote the competition to their network of stakeholders, startups, and communication channels. MaRS will also play a part in recommending judges that include business leaders, scientists, academics, renowned experts in technology and innovation, who will be tasked to assess and award the competitors, as well as providing insight and recommendations for projects that meet the criteria to qualify to enter.
“Last years’ competition was a phenomenal event in the innovation ecosystem in Canada, and one of the highest caliber and most influential competitions among the eight divisions,” says said Jenny Qi, the Chairperson of CCSA and Sci Innovation Centre. “The Sci Innovation competition provides a great path for cross-border opportunity and cooperation. As the most innovative and well-developed technology market in China, Shenzhen offers the access to the significant Chinese market for technologically innovative products. Meanwhile, the competition also acts as a window allowing those creative ideas and projects in Shenzhen to be discovered by Toronto and the world. The Sci competition has been a great way to promote the relationship between the two cities and the two nations, as products and ideas developed in Canada will benefit from the access to a much larger market, making it more viable.”