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Global internet competition in Wuzhen concludes

wuzhenwic.org Updated: 2020-12-02

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The 2020 "Straight to Wuzhen" Global Internet Competition Finals is held in Wuzhen, Zhejiang province on Nov 24. [Photo provided to chinadaily.com.cn]

The 2020 "Straight to Wuzhen" Global Internet Competition Finals was held in Wuzhen, Zhejiang province on Nov 24, with 10 projects in the fields of artificial intelligence, large-scale integrated circuits, and biotechnology standing out and demonstrating the infinite possibilities of the internet.

As an important part of the World Internet Conference, the "Straight to Wuzhen" Global Internet Competition has been set up since last year to provide a broader stage for global internet start-ups and growing companies, while also exploring emerging forces in internet development.

This year's event attracted a total of 813 projects from 15 countries, including the United States, Germany, Canada, and Israel, to participate in the four stages of preliminary rounds, regional semifinals, semi-finals, and finals.

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A judge asks questions at the competition. [Photo by Xiao Da/chinadaily.com.cn]

The 10 shortlisted projects carried out roadshows at the finals, as well as answered questions and received guidance from a panel of judges composed of senior investors, representatives of leading internet companies, and academic experts.

The One-Stop Digital Fishing Service Platform of Ningbo Haishangxian Information Technology Co Ltd won first prize at the competition.

According to Ye Ning, the founder of Haishangxian Co, the platform is based on the Beidou Navigation Satellite System and focuses on maritime communications, seafood matchmaking, supply chain finance, as well as smart refueling. It can effectively bolster the travel safety of fishermen, improve seafood transactions and efficiency, as well as promote fishery development.

Among the projects participating in the finals, 60 percent of the projects have received round B financing and above, with a valuation of more than 100 million yuan ($15.19 million), half of the projects have started the IPO process, with some companies expected to be listed next year, while at least 30 percent of the projects are valued at over 1 billion yuan.

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