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The acceptance of applications for the 9th competition in the field of entrepreneurship among foreign scientists in China has begun, China Daily reports.

The competition brings together innovative resources and entrepreneurial potential of foreign companies, financial investment institutions to serve as a bridge between science and technology, finance and industry. It is designed to accelerate the commercialization and application by foreign enterprises of scientific projects in the field of modern services, including digital economy, artificial intelligence, blockchain, quantum technologies.

The prize fund of the contest, sponsored by the Ministry of Science and Technology, the Ministry of Education, the Ministry of Human Resources and Social Security, is 1 billion yuan (146.54 million US dollars).

The submission of applications will last until May 26.

Over the years since 2015, more than 4 thousand teams of repatriates have participated in the competition.

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Photo: chinadaily.com.cn