Beijing's E-Town held a "Manew Cup VR Developer Awards Ceremony" in E-Town's Fengda International Hotel, on June 7, to announce the results of an excellent VR/AR competition, with 28 entries chosen out of more than 400 works from hundreds of teams in cities across China to show VR/AR’s possibilities in urban planning, indoor design, relics protection and transportation.

Sponsors of the event were the Beijing Economic and Technological Development Zone, Huachen Interaction Science & Technology (Beijing) Co, and the Beijing Manew Science & Technology Co, with help from the Economic and Technological Development Zone’s Science & Technology Bureau, the E-Town International Investment & Development Co, and the Development Zone's Small-to-mid-sized Enterprise Service Center 

Huachen, a well-known VR development enterprise is expected to cooperate with E-Town to establish a VR innovation and incubation platform to help combine scientific and technological and cultural development in E-Town.

For the awards ceremony, Huachen announced that it will work with E-Town Venture Capital and explained that E-Town has a solid foundation for electronic information, top equipment, and culture and is the perfect place for the finance and investment platform and innovative services, which will attract more enterprises in VR.

Development zone representatives described the purpose of the capital science & technology innovation center, and the goal of building a science and technology innovation service system with industry alliances, research institutes, a patent pond, a technical trade platform and funds, and special industrial parks covering planning and design, innovative systems, innovative combinations, and IPR management. 

In addition, E-Town says it is planning a science and technology guidance fund and talent fund to meet the needs of industry development through funding, guarantees, small loans, and leasing to help innovators and business starters solve their financing problems.