LONDON, Feb. 18 (Xinhua) -- The China-Britain Entrepreneurship Competition, an initiative aimed to support and encourage new business ventures between China and Britain, was launched on Wednesday in Newcastle of Britain.
The Competition, now in its 9th year, is supported by governments, universities and businesses in the two countries.
This is the first time for this innovative platform to be inaugurated in Newcastle city, north of England, which is welcomed by local university and government officials.
Nick Forbes, leader of Newcastle City Council added: "The initiative, which is becoming increasingly popular with universities, brings together businesses and student-led start-ups looking to develop commercial relationships and open up market opportunities through collaborations between China and the UK. It includes entrepreneurial-style competitions with cash prizes and investment opportunities up for grabs for the best business plans."
The event, at the Civic Centre in Newcastle, had also been chosen to mark the North-East China Business Forum, hosted by Northumbria University's Newcastle Business School.
Professor Yu Xiong, Chair of Technology and Operations Management at Newcastle Business School and organizer of the Forum, said: "The potential for trade or to set up innovation-sharing partnerships in China is enormous, but for individual businesses knowing where and how to gain a foothold can seem overwhelming. The expertise, experience and know-how we have assembled for the forum will be focus on helping businesses overcome this and unlock their potential."