The 2020 Xi'an Entrepreneurship and Innovation Competition, which will be held from June to August, was launched in Xi'an High-tech Industries Development Zone on June 3.

The launch ceremony for the 2020 Xi'an Entrepreneurship and Innovation Competition. [Photo/Xi'an municipal government's WeChat public account]

The time for registration is from June 3 to June 22. Participants can log in to the Xi'an municipal human resources and social security bureau portal or follow the WeChat public account "Xi'an Graduate Release" to register.

The competition is divided into two groups: the innovation project group and the entrepreneurship project group.

It will select one first prize with an award of 100,000 yuan ($14,043.17), two second prizes with an award of 50,000 yuan each, and three third prizes with an award of 20,000 yuan each.

The finals will be held at the beginning of August. Participating projects which make it to the finals will be included in the entrepreneurship and innovation assistance library. It will be recommended that they are supported by the competition investment funds and venture capital institutions, and they will receive assistance in the shape of entrepreneurial loans, training and counseling.

The Xi'an Entrepreneurship and Innovation Competition is an important part of the city's employment and entrepreneurship work. Since 2016, the competition has attracted more than 1,600 projects for registration, and 51 projects have received awards.