Optics Valley of China 3551 International Innovation and Entrepreneurship Competition concludes in East Lake High-tech Development Zone in Wuhan, central China’s Hubei province on Nov 8. [Photo provided to China Daily]

Optics Valley of China 3551 International Innovation and Entrepreneurship Competition concluded in East Lake High-tech Development Zone (Optics Valley of China) in Wuhan, central China’s Hubei province on Nov 8.

A project –– new generation of machine vision and artificial intelligence obstacle recognition system –– from Heren Technology won the competition, and will receive an award of 1 million yuan ($150,607) when the project gets underway in the zone.

The competition started on Aug 17 in Beijing, gathering high-quality projects in areas of optoelectronic information, biomedicine, intelligent manufacturing, new energy, energy conservation and environmental protection, integrated circuits, semiconductor displays, the cyber economy, and so on.

Held in Silicon Valley, London, Beijing, Shanghai, Shenzhen, Hangzhou and Wuhan, the competition attracted 1,598 projects from around the world, an increase of 200 percent compared to last time, creating a new record.

The competition had one first prize, two second prizes and five third prizes. All projects reaching the final will get free training including on entrepreneurship policies, financing, and business models. Optics Valley of China has also introduced a series of policies to promote innovation.

The project winning the competition is awarded 1 million yuan ($150,607) on Nov 8. [Photo provided to China Daily]

Competitors from around the world attend the final held in Optics Valley of China on Nov 8. [Photo provided to China Daily]