On February 21, the 12th Chaoyang International Talent Entrepreneurship Conference (ITEC) Innovation Summit was held in Chaoyang District, Beijing. This year's summit, themed "Gathering Global Talent to Pioneer the Future of Chaoyang", included a series of activities such as the Excellent Project Exhibition, the Global Entrepreneurship Competition Award Ceremony, and the ITEC Innovation Night.

The summit unveiled the "Chaoyang International Talent Innovation Matrix", aiming to build a comprehensive multi-dimensional talent network comprising Overseas Talent Liaison Office, International Talent Attraction Partners, International Talent Ambassadors and International Alumni Associations, creating a global talent magnet. At the summit, the "Chaoyang International Talent Attraction Partner" awards were presented. Long-term strategic cooperation agreements were reached with several well-known innovation and entrepreneurship talent institutions to establish a targeted overseas talent matchmaking network. Four overseas talent contact stations were set up in the innovation hubs in Switzerland, the UK, Singapore, and Germany, providing initial services such as policy consultation, talent recruitment, and project incubation. The summit also saw the appointment of the first batch of Chaoyang International Talent Ambassadors, who will highlight Chaoyang's efforts in promoting international innovation and entrepreneurship.

This year, the ITEC Global Entrepreneurship Competition aligns with the "3+X" digital economy key industries in Chaoyang District, targeting cutting-edge technologies such as artificial intelligence (AI), data elements, and digital healthcare. The competition has attracted more than 14,000 entrepreneurs and 3,587 high-end, precision and cutting-edge projects from 86 countries and regions. Overseas projects accounted for over 50 percent of the total, recording a year-on-year increase of 104 percent.

The competition ultimately selected one grand prize, four first prizes, eight second prizes, 12 third prizes, and 30 honorable mentions, with a total of 55 winning projects. At the summit, Chaoyang District successfully signed agreements with this session's winning projects. Once establishing a presence in Chaoyang, the winning projects will receive corresponding financial support based on their rankings, with the grand prize gaining up to RMB5 million and the total prize pool exceeding RMB50 million. The main founders of projects winning a third prize or above will be eligible for the "Phoenix Program" high-level talent "1+8" service system, which covers eight services such as health management, transportation, and accommodation. Additionally, ITEC will provide "Chaoyang Services" throughout the lifecycle for outstanding projects, including space support, investment acceleration, talent services, and ecosystem empowerment.

(Source: Beijing Business Today)