Sci Innovation Centre and the Canada Confederation of ShenzhenAssociations Host 2018 Sci Innovation Competition (The 2nd IEIC, Toronto Division) and Announces Strategic Partnership with MaRS
TORONTO and SHENZHEN, China, Jan. 10, 2018/CNW/ - On the heels of promoting business cooperation with China by Ontario Premier, Kathleen Wynne, the Canada Confederation of Shenzhen Associations(CCSA) and the Sino-Canada International Innovation Centre(Sci Innovation Centre) announce the launch of The Second China (Shenzhen) Innovation & Entrepreneurship International Competition, Toronto Division (Sci Innovation Competition), on March 24th, 2018.
Initiated by the Municipality of Shenzhen, the competition is sponsored globally by local governments in Toronto, Silicon Valley, Sydney, Tokyo, Boston, Tel Aviv, London, Stockholmand Berlin. The Second China (Shenzhen) Innovation& Entrepreneurship International Competition will offer increased prize awards totaling RMB 10.91 million (2.09 million CDN). A venture capital pool of RMB 20.9 billion (4 billion CND) has been set up by 34 investment institutions for all the nine divisions, which helps support outstanding projects. As the Competition Division for Toronto, the 2018 Sci Innovation Competition will feature 20 finalists from Canadawill pitch ideas to a panel of high profile judges and First, Second, and Third place prizes will be awarded. 10 of them will be qualified for the 'Industrial Finals' and 'Grande Finals' of the Second China (Shenzhen) Innovation & Entrepreneurship International Competition in Shenzhen in April 2018.
Reza Moridi - Minister of Research and Innovation and Science stated: "In the past year, Ontario and Shenzhen have co-organize the following events: 2017 China (Shenzhen) – Canada (Ontario) Innovation, and International Cooperation Forum, 2017 China-Canada high tech summit, etc. Thanks to the hard work of Canada Confederation of Shenzhen Associations and the Sci Innovation Centre, those events have propelled the interaction and cooperation between the technological research institutions, investment management companies, innovative firms in Ontario and their Chinese partners regarding business development. The Research and Innovation and Science Department will continue strongly support this event, and hope more talents and technologies can excel in the competition and competing in the Finals in Shenzhen representing Canada."
"Toronto is proud to again be part of this competition, which provides an exceptional opportunity for our companies to build their profile in China and worldwide," stated City of Toronto Deputy Mayor Denzil Minnan-Wong. "This initiative demonstrates how Toronto and Shenzhen are forging strong mutual business relationships through the innovations of our city's diverse start-up community."
Yaodong Zhuang – Acting Consul General of General Consulate of The People's Republic of Chinastated: "China is using innovation as the primary engine to grow its economic development. By implementing creativity strategy in the nation-wide level, China has become a world innovation leader in several domains. Canada and China have established a great working relationship and cooperation regarding innovation, including innovation forums, funds, and exchange of young professionals, and have both enjoyed the positive outcomes. I look forward to seeing the competition facilitating the interaction between the innovative industries of both sides."
On March 18, 2017, the First China (Shenzhen) Innovation & Entrepreneurship International Competition, Toronto Division was held at City Hall of Toronto. 207 teams applied to compete; 20 teams participated in the final of Toronto Division Competition; 6 teams gained cash rewards; 10 teams qualified to participate in the Grande Final in Shenzhen.
"Last years' competition was a phenomenal event in the innovation ecosystem in Canada, and one of the highest caliber and most influential competitions among the eight divisions. The Sci Innovation competition provides a great path for cross-border opportunity and cooperation. As the most innovative and well-developed technology market in China, Shenzhen offers the access to the significant Chinese market for technologically innovative products. Meanwhile, the competition also acts as a window allowing those creative ideas and projects in Shenzhen to be discovered by Toronto and the world. The Sci competition has been a great way to promote the relationship between the two cities and the two nations, as products and ideas developed in Canada will benefit from the access to a much larger market, making it more viable," said Jenny Qi, the Chairperson of CCSA and Sci Innovation Centre.
This year the Sci InnovationCompetition is partnering with Toronto-based MaRS Discovery District, one of the world's largest urban innovation hubs supporting innovators and entrepreneurs. The partnership will see MaRS host the competition at their downtown Toronto facility and promote the competition to their network of stakeholders, startups, and communication channels. MaRS will also play a part in recommending judges that include business leaders, scientists, academics, renowned experts in technology and innovation, who will be tasked to assess and award the competitors, as well as providing insight and recommendations for projects that meet the criteria to qualify to enter.
The Second China (Shenzhen) Innovation & Entrepreneurship International Competition, known as the 'Global Olympics of Innovation', is open to high-calibre talents, entrepreneurs and projects, and promotes the integration of human resources, technology, capital, and attracts more overseas entrepreneurs to expand a business or seek cooperation in Shenzhen.
There are several highlights for the 2018 Sci Innovation Competition. The competition has involved more professional partners that include prominent Canadian universities, such as University of Toronto, University of Waterloo, andWestern University. Other famous Canadian innovation institutions like OCE (Ontario Centre for Excellence), and Chinese VC institutions such as Cowin, Green Pine Capital, Midday Capital are onboard. Secondly, there will be a larger VC pool of around 4 billion CAD for the global competition, which is about 30 times than the previous competition. There will also be three professional categories - competitions added, including Internet of Things, Artificial Intelligence and Anti-cancer Technologies.
The Sci Innovation Centre is going to strengthen its professional extended services to all participants by offering the startups that don't make it to Shenzhen an opportunity to join CAP (Commercialization and Acceleration Program), initiated by Sci Innovation Centre, to go to Shenzhen during the Grande Finals in Shenzhen to gain an extra chance to participate.
"This is the first time that Sci Innovations will partner with MaRS to co-organize the competition. It is great that many renowned Canadian universities have also come onboard in strategic partnerships with Sci Centre. The competition will also help the entrepreneurs to validate their ideas, test their theories and look at their products from the perspectives of professional judges, who have exceptional experience and business acumen, providing exceptional invaluable feedback. Also, as those registered projects (worldwide) in the previous competitions cannot compete in the 2018 competitions, MaRS will continue to facilitate incubation of these projects in Toronto, building up a virtuous circle for a good eco-system," said Leo Liu, CEO of Sci Innovation Centre.
Current Confirmed 2018 Judges:
Dr. Songnian Zhou Dr. Songnian Zhou is a Fellow of the Canadian Academy of Engineering. 1992－2012, Songnian co-founded and served as Chairman and CEO of Platform Computing Corp., the industry leader in cluster, grid and cloud computing. In 2002, Songnian received the Ernest & Young award for the Best Technology Entrepreneur of the Year.
Mr. Don Wright President, The Winnington Capital Group Chairman, Cinaport Capital Inc. Over 39 years in investment industry Actively supports several charitable organizations Director of MaRS Innovation Inc.
Prof. Xuemin (Sherman) Shen, PhD, P.Eng University Professor at University of Waterloo. Fellow of IEEE, Engineering Institute of Canada, Canadian Academy of Engineering, and Royal Society of Canada
Prof. En-Hui Yang Fellow of The Royal Society of Canada, Fellow of the Canadian Academy of Engineering
Mr. Richard Blundell Executive-in-residence & Adjunct Professor, Rotman School of Management
Mr. Steve Mann Chief Scientist, Sino-Canada International Innovation Centre
Prof. Hani Naguib, PhD, P.Eng, Ceng, FIOM3, FASME, FSPE, FCSME Professor, Mechanical Engineering at University of Toronto Director, Toronto Institute for Advanced Manufacturing (TIAM) Fellow of American Society of Mechanical Engineers Fellow of Canadian Society of Mechanical Engineers
Mr. Yuri Navarro CEO, National Angel Capital Organization Representing Canadian Angel investors with industry and government Chief of Staff, the Minister of Economic Development and Trade in the Ontario government Policy advisor, the Minister of Energy and Infrastructure
In 2017 the winners of the Toronto Division included, 'TappLock' which won first prize, the 'Magicyte' and 'FlexCap' won second prize, and 'SEEM Technology', 'Boco Technology' and 'CMOS-MEMS Array Infrared Identification Sensor' claimed third prize.
Timelines for the Competition:
Feb 28, 2018 – Application Deadline
March 1 to 15, 2018 – First Round Project Screening
Mar 16 to 23, 2018 – Contestants Preparation
Mar 24, 2018 – The Sci Innovation Competition
Mar 25 to Apr 5, 2018 – Pitch Tutorial for the Finals in Shenzhen
Apr 9 to 13, 2018 – The Second IEIC (Grand Final) in Shenzhen
Interested individuals and teams are encouraged to submit business plans outlining their innovative technology, product, or idea that demonstrates leadership, market competitiveness, and potential economic and social impact. A focus will be placed on projects in the categories of Information Technology (Internet and Mobile), Electronic Science and Technology, Biology and Life, Science and Technology, Advanced Manufacturing, and Materials and Energy (including energy conservation and environmental protection). Competitors should possess ownership of all rights related to the product, technology and patent, have no property dispute with any other person, assume full responsibility caused by any possible infringement, and should not have competed in any previous Shenzhen Innovation and Entrepreneurship Competitions. For full requirements and registration details, visit the Competition Guide at www.sciinnovationcentre.com and ww.itcsz.cn.
The Sci Innovation Centre supports start-ups with funding, mentoring, training and legal consultation as well as provides work spaces and offers a series of educational programs. The centre is dedicated to creating an international collaboration between Toronto area and Shenzhen entrepreneurs and companies to transform ideas into market viability.
About Canada Confederation of Shenzhen Associations: The CCSA is a non-profit organization founded by the Shenzhen Association of Canada, the Shenzhen International Commerce Association of Canada, the Shenzhen Overseas Student Association of Canada and the Shenzhen Charity Foundation of Canada. It aims to promote multi-faceted cooperation between the Chinese and Canadian governments in terms of economic, technological, trade, commerce, culture and education. It is one of the most influential Chinese communities in Canada with more than 1200 members and is focused on providing entrepreneur support, incubation and investment services to start-ups in Canada. http://www.ccsaweb.com/
About Sino-Canada International Innovation Centre: The Sci Innovation Centre was established in May 2017. It fosters an integrated innovation ecosystem to support collaboration between Chinese and Canadian entrepreneurs and companies. It supports start-ups with funding, mentoring, training, legal consulting and co-working spaces as well as a series of programs. Sci Innovation Centre is sponsored by the Shenzhen Municipal Government and has established cooperation with world-famous innovation organizations, including University of Toronto, University of Western Ontario, OCE, etc. Sci Innovation Centre has set up innovation centers in both Shenzhen and Toronto, in order to collaborate all the intellectual resources and governmental resources, help innovators, inventors and entrepreneurs transform their ideas into market success and facilitate the communication between China and Canada in the field of innovation and technology. http://sciinnovationcentre.com/
SOURCE Sino-Canada International Innovation Centre
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