Beijing E-Town International Financing Guarantee Co is supporting the annual Maker in Beijing 2020 SME Innovation and Entrepreneurship Competition – which is this year also staging an Epidemic Prevention and Control Competition -- with a newly launched financial product.

The company -- also known as E-Town Financing Guarantee -- is a subsidiary of E-Town Capital, the state-owned investment corporation which also operates the Beijing Development Area, or BDA, where the first Maker in Beijing SME competition was held last year.

Officials said E-Town Financing Guarantee is providing product-specific services for participating projects in the Epidemic Prevention and Control Competition.

The finals for both are currently taking place and will be completed by March 20.

Officials said this support from the company will help reduce corporate financing costs and accelerating the approval process for projects.

That in turn will help accelerate the development of innovative technologies, products and services in epidemic prevention and control areas -- such as nucleic acid detection kits, medicines and vaccines, protective devices, equipment and equipment, as well as big data monitoring and analysis.

The Maker in Beijing 2020 competition is being jointly hosted by the Beijing Municipal Bureau of Economy and Information Technology and the Beijing Finance Bureau.

The event completed online registration, online display, preliminary round and the finals are now taking place.

Officials said the purpose of the Epidemic Prevention and Control Competition is to discover and select a batch of epidemic prevention and control measures, as well as post-epidemic health protection and business model innovation projects and products.