The 2019 “Maker in China” Beijing SME Innovation and Entrepreneurship Competition began on June 12 in the Beijing Economic-Technological Development Area (BDA for short).

Around 200 people from the Ministry of Industry and Information Technology, Ministry of Finance, Beijing municipal bureaus and commissions, city-level demonstration platforms, demonstration bases in Beijing, investment institutions, and guarantee institutions participated in the competition.

Sheng Licheng, deputy director of the BDA Management Committee, addressed the competition.

According to Sheng, the competition will provide more opportunities for the development of exchanges, the integration of production, and project incubation, which will help small and medium-sized enterprises in the development area. Also, as a technological innovation demonstration zone in Beijing, the BDA will promote innovation and entrepreneurship activities carried out by Maker in China and Maker in Beijing.

The competition is aimed at stimulating innovation, gathering entrepreneurial resources, and cultivating industrial enterprises.

The competition will be divided into two sections, one for enterprises and the other for makers. It will consist of three stages: preliminaries, semi-finals, and finals.

In addition to bonuses and funds, the winning projects will also receive equity investment, bond financing, and project settlement support.

E-Town Capital, which is in the process of promoting regional industrial development through capital and is a market-oriented investment platforms for the BDA, will rely on investment, mergers and acquisitions, Fund of Funds (FOFs), creditor's rights, financing, and other means to help develop small and medium-sized enterprises, promote the growth of quality enterprises, and bring more innovation and entrepreneurship projects to the BDA.