The grand final of the 2nd Global Marine Economy Entrepreneurship Competition of Zhoushan Archipelago New Area is held in Zhoushan, East China's Zhejiang province on Dec 12. [Photo/zhoushan.cn]

The grand final of the 2nd Global Marine Economy Entrepreneurship Competition of Zhoushan Archipelago New Area was held in Zhoushan, East China's Zhejiang province on Dec 12, as part of efforts by the city to attract global entrepreneurial talents in the marine economy. 

Altogether 61 entrepreneurial teams made the final among over 1,000 applicants, after half a year of selective trials in eight divisions including the cities of Shanghai, Hangzhou, Guangzhou, Shenzhen, Qingdao, Wuhan and Chengdu in China, as well as the Silicon Valley in the United States. 

The gold award went to an underwater Wifi development project and a rehabilitation robot project, among four silver awards and six bronze awards. They will receive funds of 1 million yuan ($0.14 million) to 3 million yuan as rewards. 

Another 12 outstanding projects and nine innovative college projects were also selected, which will be granted funds of 0.5 million and 0.2 million yuan, respectively. 

In addition, seven projects signed agreements worth 31 million yuan with venture capital investors after the final, and eight projects signed agreements to settle in the city. 

Nearly 20 projects have registered or have agreed to register in the city since the competition was launched in May. 

The competition, sponsored by the city government, is the largest competition with the most handsome rewards ever seen since the Zhoushan Archipelago New Area was established in 2011.

Representatives of nine college innovative projects receive the awards after the final. [Photo/zhoushan.cn]

The launch ceremony of the 2nd Global Marine Economy Entrepreneurship Competition of Zhoushan Archipelago New Area in Shanghai, on May 29 [Photo provided to chinadaily.com.cn]