Entrepreneurs get another chance to 'Make Shanghai Your Home'

Ti Gong

The third "Make Shanghai Your Home" entrepreneurship competition for overseas talent was launched on Thursday.

The competition aims to select the most promising projects from all over the world, and for overseas returnees to settle in Shanghai, according to the local human resources and social security bureau.

Chinese talent who are studying or have completed their studies abroad, including those who have recently returned to China or intend to come back and will start new businesses in Shanghai, are encouraged to participate in the competition. Those who have been naturalized as foreign citizens during their studies and those who went abroad from Hong Kong, Macau and Taiwan are also welcome.

Core members of participating startups choosing Shanghai as their home will qualify for a Shanghai hukou, or household registration. And the city will also welcome their foreign members and members from Hong Kong, Macau and Taiwan to apply for local residence permits.

There are four overseas divisions for the competition, namely California's Silicon Valley, London, Hanover in Germany and Singapore.

The competition targets projects in many industries, including TMT (technology, media and telecom), biomedicine and new material and new energy.

Registrations which are open until October 14 can be made by scanning the QR code below.

Applicants should have a bachelor's or a more advanced degree from an overseas university, have the intention to return to China to start a business, or have been back for no more than four years.

They should also be core members of a project team, either founders or co-founders, and have a certain stake in the company, according to the requirements.

Winning programs will win up to 500,000 yuan (US$73,950) in cash and get access to local industrial resources and incentive policies in Baoshan, Jiading and Songjiang districts as well as the Pudong New Area.

Chu Yongyan, founder and CEO of Chuhang Technology, won the first prize in the first edition of the competition in 2019. He started a subsidiary of his previous Nanjing-based company and has developed it in scale in Shanghai since the competition.

The subsidiary, which now has more than 50 members, started building a smart factory in Anting Town, Jiading, last month. The factory is expected to be put into production by the end of next year, boosting the automobile industry in the district.

Chu's main-body company is now located in Nanjing, neighboring Jiangsu Province. It's dedicated to the development and production of 77GHz to 79GHz millimeter-wave (MMW) radar sensors for Advanced Driving Assistance Systems and Automated Driving applications.

Ti Gong