A representative of the champion team of the 2019 Zhoushan Archipelago New Area China College Students Entrepreneurship Competition explains their project which focuses on offshore intelligent oil supply platforms. [Photo/WeChat account: gh_d1e64596632d]

The final of the 2019 Zhoushan Archipelago New Area China College Students Entrepreneurship Competition was held in Zhoushan, East China's Zhejiang province on Dec 20.

The final attracted an audience of nearly 200, including representatives from universities, enterprises, media outlets, investment institutions and government departments.

The entrepreneurship competition was organized by the Zhoushan municipal government and was launched in Beijing in October.

The competition, which was mainly for undergraduates or graduates who have graduated in the past 10 years, involved teams focusing on the maritime economy, tourism, new materials and e-commerce, among other areas in line with the developmental needs of Zhoushan.

A total of 101 teams participated in the preliminary rounds of the competition, with 12 entering the final and performing roadshows together.

According to local authorities, all of the 12 teams decided to started businesses in the city and have signed cooperative agreements with the city's municipal government.

A team focusing on offshore intelligent oil supply platforms won the first prize and 300,000 yuan ($42,860) in financial subsidies.

Two teams respectively engaged in aviation logistics cooperation and photonic chip development won the second prizes and received 200,000 yuan in financial subsidies.

Three teams respectively focusing on energy efficient glass development, micro hydroelectric generator technology and pet food e-commerce platforms were awarded the third prizes and 150,000 yuan in financial subsidies.

In recent years, Zhoushan has been working on talent introduction by holding a series of entrepreneurship competitions, improving the business environment, and implementing incentive policies, officials said.