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November 12, 2019

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Global startups vie for local investment

Representatives of 55 startup projects from all over the world gathered in the Pudong New Area yesterday for a roadshow competition to introduce their ideas to local investors.

The projects were chosen from over 680 entrants. This year, the event focused on the biological medicine industry. About two-thirds of the 55 projects relate to medicine and medical equipment.

At the opening ceremony, the Shanghai Academy of Social Sciences also released an index on talent attractiveness. The report pointed out that Shanghai, as the center of scientific innovation, is becoming a stronger magnet for talent.

This is the fourth year for the Shanghai Association for Science and Technology to organize such a competition to connect investment with entrepreneurship globally.

It was also four years ago that the Offshore Entrepreneurial Base for Overseas Professionals was founded. Since 2016, the base has helped 179 overseas startups find their place in Pudong.

Many multinationals such as Microsoft and Nokia have established cooperative relationships with the base to scout out startup projects with promising potential.


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