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 Award Winning Project Exhibition, the Global Entrepreneurship Competition Award Ceremony, and the ITEC Innovation Night.

The summit unveiled the "Chaoyang International Talent Innovation Matrix", aiming to create a comprehensive multi-dimensioned talent network -- comprising "Overseas Talent Liaison Office — International Talent Attraction Partners — International Talent Ambassadors — International Alumni Associations" and to build a "magnetic field" for global talents. At the summit, the "Chaoyang International Talent Attraction Partner" awards were presented, and long-term strategic cooperation agreements were reached with several well-known innovation and entrepreneurship talent institutions. An overseas talent matchmaking network was established. Four overseas talent contact stations were set up in the innovation hubs in Switzerland, the UK, Singapore, and Germany, respectively, providing initial services such as policy consultation, talent introduction, and project incubation. The first batch of Chaoyang International Talent Ambassadors were appointed to act as the "spokespersons" for Chaoyang's international innovation and entrepreneurship ecosystem.

This year, the ITEC Global Entrepreneurship Competition focuses on 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, and recorded 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 landed in Chaoyang, the winning projects will receive corresponding financial support based on their rankings, with the grand prize gaining up to CNY 5 million and the total prize pool exceeding CNY 50 million. The main founders of winning projects ranking in the third place or above will be eligible for the "Phoenix Program" high-level talent "1+8" service system, which covers services such as health management, transportation, and accommodation. Additionally, ITEC will focus on providing "Chaoyang Services" throughout the lifecycle for excellent projects, including space support, investment acceleration, talent services, and ecosystem empowerment.

(Source: Beijing Business Today)