An innovation and entrepreneurship contest directed by Xiamen University, the Siming District Government and Xiamen Jinyuan Group came to a close on Nov 23.

The contest was supported by the Xiamen University-Jinyuan Student Innovation and Entrepreneurship Fund and Xiamen University-Siming Talent Fund and attracted 20 teams from the university involved in information technology, semiconductors, environmental protection, tourism and culture and AI.

Organizers invited experts and business insiders to appraise contestants' projects and proposals based on various indexes such as product services, market analysis, company strategy, marketing solutions, team work and crisis management.

After a whole of roadshows and competitions, 10 teams were awarded and granted a special bonus from the Xiamen University-Siming Talent Fund. The fund is expected to become a bridge between university and enterprises to help realize the commercialization of scientific and technological achievements and cultivate a better business environment for young start-ups and graduate employment.

To further strengthen cooperation between universities and local enterprises, Siming district and Xiamen University set up a talent fund to offer financial support for students and graduates looking to start business and promote innovation, as well as to attract talent to the district.

The fund is financed by enterprises in Siming District and is used to reward the winning teams in the contest.

The fund is expected to become available to more enterprises in the district to help cultivate a better environment for innovation.