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Witnessing innovation power, CIEF 2018 closed successfully

  (June 27, 2018)

GUANGZHOU, China, June 27, 2018 /PRNewswire/ -- On June 24, 2018, the three-day China Innovation and Entrepreneurship Fair (CIEF) was closed successfully. Adopting the theme of "new momentum of innovation and entrepreneurship for a new leap", this edition of CIEF was the first one following the 19th National Congress of the Communist Party of China (NCCPC) and also the practice of Guangzhou to fully carry through the spirit of the 19th NCCPC and try the best to achieve the goal of "taking the lead in four respects throughout the country" with the guidance of Xi Jinping's thought of developing socialism with Chinese characteristics in the new era.

CIEF 2018 received extensive support from all sponsors and all walks of life. Leaders from China Association for Science and Technology, National Development and Reform Commission, Chinese Academy of Engineering, the Central Committee of Jiusan Society, People's Government of Guangdong Province, People's Government of Guangzhou Municipality and other related departments attended the launch ceremony. More than 20 academicians organized their respective achievements or projects to participate in the exhibition or attended various forum events. This 3-day CIEF received nearly 60,000 visitors in total. This year, CIEF 2018 gave full play to the "multiplier effect" that integrates resources in the industrial vane, technological vane or innovation vane most prominently.

CIEF: A new business card for China to demonstrate innovation achievements

At CIEF 2018, which seized the opportunity of integrated development of digital, network and intelligent technologies and concentrated strategic emerging sectors, more than 1,000 participating exhibitors together with over 1,000 technological achievements, covering such important areas as artificial intelligence, biomedicine, new generation information technology, new material and military-civilian integration, exerted every effort to showcase China's latest achievements and technologies in these areas. Innovation and entrepreneurship projects from over 20 countries and regions, including the US, South Korea, Finland, Norway, Japan, Israeli, Singapore, Sweden and New Zealand were displayed at CIEF 2018 to exchange and share global frontier trends regarding innovation and entrepreneurship, build and promote their own brands, and open international cooperation channel with respect to innovation and entrepreneurship. In 30 special activities during CIEF 2018, 200+ famous figures, both domestic and overseas, from enterprises, the science and technology community and investment areas were speakers who not only sped up the trend of science and technology and industrial development, but also witnessed CIEF being the new business card of China's innovation achievements.

CIEF: A distribution center that facilitates the conversion transaction of innovation and entrepreneurship achievements

This edition of CIEF had a display area of over 21,000 m2, including 20+ theme exhibition areas, and displays over 1,000 innovation projects which were high-quality projects screened from more than 8,000 projects throughout over 30 provinces and municipalities nationwide, covering many areas such as new generation information technology, artificial intelligence, biomedicine, new energy, new material, robot, military-civilian integration, and VR/AR. All these projects showcased the achievements of China in technological innovation and depicted the prospective of future science and technology.

At CIEF 2018, intention of cooperation was concluded with respect to a lot of projects. With the application project of selenium rich filter element, Foshan Shansheng Biotechnology Co., Ltd. reached the cooperation intention and signed the contract with Inner Mongolia Yunjia Zhengde Biotechnology Co., Ltd. on the site. With respect to the new product project of micro-ecological biomimetic plankton, Shanghai Jiao Tong University from Jiusan Society exhibition area concluded the in-depth cooperation intention with Miracle Sourse, Korea. "Positive optical defocus" soft contact lens project, developed by The Hong Kong Polytechnic University (HKPU) from "Guangdong-Hong Kong-Macau Great Bay Area" was picked up for intention of cooperation by Guangzhou Qi An Qi Visual Technology Co., Ltd., which was only 300 m away from HKPU booth and set up the booth in the innovation and entrepreneurship exhibition area. Prior to this, Guangzhou Qi An Qi Visual Technology Co., Ltd. signed the cooperation agreement with Chang Gung University, Taiwan, with respect to "corneal disease influence identification system with machine learning capacity", and exchanged the agreement counterparts in the launch ceremony. According to incomplete statistics, during the 3-day period, cooperation intention has been concluded and preliminary cooperation agreements were signed with respect to 55 projects, amounting to RMB 148.66 million. "Realizing achievement matchmaking at CIEF" has been further implemented.

CIEF: A vane that attracts capital attention and investment

Since CIEF is located in Guangzhou, it has become a powerful motive for Guangzhou to implement the innovation-driven development strategy. Last year, Guangzhou achieved gross regional product (GRP) of RMB 2,150 billion, an increase of 7%, and gross domestic product (GDP) per capita of over USD 20,000. In Guangzhou, there are over 150 scientific research institutions, over 8,700 high-tech enterprises and nearly 170,000 technological innovation enterprises as well as incubators covering an area of more than 9 million m2. In Guangzhou, there is a rapid integration of industrial chain, innovation chain and capital chain, rapid shaping of high-end, high-quality and new modern industrial system, obviously improved capability of supplying technologies that lead others and those keeping pace, and significantly strengthened capability concentrating on global innovation resources.

CIEF is committed to offering the "last mile" achievement conversion solution in the market-based manner, thus facilitating precise matchmaking between innovation chain and industrial chain. At CIEF 2018, over 100 venture capitals, including IDG Capital, SB China Venture Capital, ASBV, GSR Ventures, Cowin Capital, HG Capital, QF Capital, Happen Capital, and Innoangel Fund, visited each exhibition area and each special activity with their representatives negotiating with excellent projects closely, thus helping each project find buyers and establishing a platform for investment projects of the investors. In IDG Global Mobile Internet Creative Development Competition (MIC), domestic and overseas excellent mobile internet enterprises, including Potrero Medical (US), Chengdu Jingwei Technology and ResQ Club (Finland), the champion, runner-up and second runner-up of MIC, respectively, as well as individuals, teams and enterprises engaged in mobile app development, tried their best to attract attention from investors. VC giants reviewed all project roadshows on the site sharply, critically, or humorously, and identified all future unicorns in their eyes. As a result, "Realizing capital layout at CIEF" has become another new slogan of this edition of CIEF.

Sticking to the principle of realizing achievement conversion and capital layout at CIEF, CIEF has made it an eye-catching event in the eyes of VCs by means of its height, width and depth of each participating project, and converted them into actual financial and investment actions, allowing for thorough understanding of science and technology direction and capital flow within a three-day fair. In spite of official closing of CIEF 2018 together with its exhibition and display and special activities, "1+1+N" achievement matchmaking and conversion will never close.

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