Guided by the national strategy of innovation-driven development, the first Global USTCer Innovation and Entrepreneurship Competition kicked off in Suzhou. On September 24 and 25, 2021, the preliminary round competition of Suzhou division was held at SIAR.

The competition was hosted by USTC, organized by SIAR, USTC Suzhou Alumni Association, the Suzhou Chapter of the Alumni Association of the School of Management, and co-organized by Suzhou Maiduo S&T Park Management Co., Ltd. The Management Committee of Suzhou Dushu Lake Science and Education Innovation District offered great support to this competition. The opening ceremony was attended by Chu Jiaru, member of the Standing Committee of the USTC Party Committee and Executive Director of SIAR, Pan Yu, Deputy Secretary of the Party Working Committee and Director of the Management Committee of Suzhou Dushu Lake Science and Education Innovation District, Shen Yan and Cui Yi, Deputy Directors of the Management Committee of the Innovation District, Zhu Dongjie, Executive Vice President of the School of Innovation and Entrepreneurship of USTC, Liu Shaochen from General Alumni Association, as well as Tu Jing and Ni Rui from SIAR. Industry experts and influential alumni from Beijing, Hefei and Suzhou were present as speakers and judges. At the same time, the competition received wide attention from both inside and outside the University. The audience tickets were snapped up within a few days after the e-invitation was released, and hundreds of guests observed the competition on site.

Chu Jiaru made an opening remark. He pointed out that innovation is the core value inherited by generations of USTCers and the pursuit of all USTCers since their enrollment. Over the past 60 years, innovation has become the essence of USTC culture and the most unique feature of USTCers. USTC and Suzhou City has a long history of cooperation. As the first famous university introduced to Suzhou Industrial Park in 2001, USTC has trained more than 7,000 postgraduates, making important contributions to gathering quality innovation resources at home and abroad, cultivating economic growth points, and gaining momentum for regional development. The competition focuses on alumni’s innovative and entrepreneurial projects, gathers talents and resources, and stimulates the enthusiasm of alumni, all students and faculty members. The competition facilitates the implementation of national innovation-driven development strategy and contributes to the construction of the “double first-class” university.

Pan Yu noted in his speech that the Science and Education Innovation District has homed 33 famous universities (research institutes), 15 national research institutes, and more than 4,000 innovation enterprises. The District has gathered top-notch innovation resources and talents, and created a favorable ecosystem for innovation and entrepreneurship and stimulate innovation momentum. The first Innovation and Entrepreneurship Competition is an effective way to promote communication and cooperation, and enhance the atmosphere of innovation and entrepreneurship in industry, academia and research. It also gives publicity to the SIP and the District. The Science and Education Innovation District will continue to build a first-class business environment, provide the best services, and create the best ecology to support the development of innovation and entrepreneurship.

Dr. Cai Daqing, USTC alumnus, founder/Managing Partner of Sherpa Healthcare Partners, and Ms. Ye Xiaoming, founder of Jiangsu Qianrong Group and vice president of Suzhou Venture Capital Association, gave speeches on “Medical Industry Entrepreneurship from an Investor's Perspective” and “Investment Empowerment in the Era of Technology Innovation” respectively to help entrepreneurs understand the risks and the role of investment in empowering technology.

The first-round competition collected 33 quality projects from the Yangtze River Delta region, and the winners will participate in the second and final round competition. The 33 teams were divided into three groups according to their development stages, namely Creative, Innovative, and Entrepreneurial groups. Most projects have both good application prospects and investment value, ranging from information technology, intelligent manufacturing and social services. In the presentation session, the competitors presented their business plans with demonstration videos. In the defense session, they responded to the questions from the judges and experts. The exchange of words and ideas not only rendered the competition a project road show, but also polish the projects in a profound way. The “Quantitative financial software combined with quantum computing technology", “New generation of the most competitive antibody-coupled drug” and “R&D and industrialization of high-performance intelligent non-consumable air purification and disinfection equipment” won the laurels in the Creative, Innovative, and Entrepreneurial group, respectively.

The competition promoted cooperation among enterprises, technology and capital. Although the competition has come to an end, the exchange between industry, academia and research, and the matchmaking between investment and financing will continue. For the winning projects, the Competition Committee will provide one-on-one business counseling and help them compete for the highest honor in the later rounds of competition.

Entrepreneurship is not an easy task. Innovation, however, is the mission and vision of every USTCer. This competition provides a fantastic opportunity for USTCers to showcase their teams and projects and get acknowledged by expert judges, and it is the first step in their journey of entrepreneurship. As a Chinese saying goes, the journey of a thousand miles begins with the first step. Let us uphold the spirit of the university motto of “virtue with veritas, mind with hand”, ride on the “eternal east wind”, dare to break through and create, and win the competition in real market. We will respond to the call of the times, carry forward the innovative spirit of USTC, have firm ideals, hone our skills and make new and greater contributions!