15 Apr Shenzhen Innovation & Entrepreneurship International Competition
The China (Shenzhen) Innovation & Entrepreneurship International Competition aims to be an international hub of startup resources, helping businesses connect with Chinese industry and expand their presence into the local market. The competition is open to all foreign innovation and entrepreneurship projects, with a prize pool of totalling over RMB 11.2 million (2 million USD).
There were over 1800 applications in 2019, hailing from Australia, Canada, Germany, Israel, Japan, Spain, Sweden, the US, and the UK. Hosting businesses from multiple industries, the competition broke down into categories including financial technology, biomedical technology, robotics, and environment. Within those divisions, organizations must win their country’s category to go on and be represented at the competition finals, held in Shenzhen, China on the 9th of April.
Block Ledger won the Sydney competition in late February, going on to represent the Australian Division for Financial Technology innovations at the final. We flew to Shenzhen on 8th April, taking part in demonstrations, keynotes, and functions during the 10 days of the competition. We also had the luxury of being hosted for dinner and networking opportunities with local government representatives, venture capitalists, and media personalities.
Concluding our trip, we placed 2nd in the Shenzhen finals, having reached the top 24 businesses for the final, placing us in the top 1% of all competing. It was an honour to be recognized by the judges, coming from a variety of professional backgrounds, including venture investors, academics and executives officers of public companies.
The feedback was great, despite our product, LUCA, still being in its developmental stage. The judges think we have great potential. They liked our team, business model and the practical implementation of blockchain technology. This great feedback gives us more confidence in our product and path, proving that LUCA has the potential to set new industry standards.
At Block Ledger, we embrace change by the way we make business, simpler, smarter, and faster.