Grand Launch: 2019 BRK-GJK Cup 'Direct to Cleveland' International Healthcare Innovation and Entrepreneurship Competition Opens for Applications!
From the “Outline of the ‘Healthy China 2030’ Planning” to the “Opinions of the General Office of the State Council on Promoting the Development of ‘Internet + Healthcare’,” and further to the Government Work Report delivered at this year’s Two Sessions, the healthcare industry has reaped substantial policy benefits. Financing enthusiasm in the healthcare sector has gradually intensified. In terms of average amount per financing round, the figure remained relatively stable at approximately RMB 40 million from 2014 to 2017. In 2018, however, the average amount per financing round surged to RMB 95 million, representing an increase of around 130% compared with previous years.
To better implement relevant policies and empower healthcare, this initiative is guided by the Chongqing Municipal Science and Technology Bureau, the People’s Government of Yuzhong District, Chongqing Municipality, and Chongqing Medical University; hosted by the Yuzhong District Science and Technology Bureau of Chongqing Municipality, the Administrative Committee for the Construction of the Dashihua New Area in Yuzhong District, Chongqing Municipality, Chongqing International Medical Innovation Center, and Sinopharm Medical Device Research Institute; and co-organized by Chongqing Science and Technology Venture Capital Co., Ltd., Baichuanghui International Biotechnology (Wuhan) Co., Ltd., Shanghai Chuangrui Investment Management Co., Ltd., Guojian Capital (Guangzhou) Medical Investment Co., Ltd., Shanghai Equity Investment Association, Chongqing Headquarters City, and VCBeat.
Registration is now open for the 1st Bairuike Guojian Cup “Direct to Cleveland” International Medical Innovation and Entrepreneurship Competition, aiming to gather China’s most innovative enterprises in fields such as medical devices, services, and smart healthcare, while identifying, nurturing, and selecting high-quality projects to accelerate the comprehensive and balanced development of the health and medical ecosystem.
As the healthcare architecture becomes increasingly clear, medical devices, healthcare services, and smart healthcare have emerged as three hot sectors within the healthcare industry in recent years. This competition brings together enterprises from these related fields, leveraging first-mover advantages and focusing on industrial clusters to attract the most outstanding innovative companies in China’s health and medical industry. Submitted proposals may pertain to medical devices, healthcare services, smart healthcare, and other related areas, as detailed below:
Smart Healthcare: Smart Hospital Systems, Regional Health Systems, Home Health Systems, etc.
This competition is open to applicants across China and is divided into four major regions: East, West, Central, and South. Eight sub-venues are established nationwide in Shanghai, Hangzhou, Chengdu, Chongqing, Wuhan, Changsha, Fuzhou, and Guangzhou. The competition consists of five stages: project registration and qualification confirmation, preliminary screening and expert evaluation, advancement rounds, the grand finals, and the Cleveland Direct Qualifier.
The competition features two categories: “Incubation Track” and “Growth Track.” Entries are evaluated comprehensively across multiple dimensions, including business model, technological domain, development stage, team caliber, and application scenarios, to ultimately select high-quality projects from across China.
The competition has invited over 100 top-tier investment institutions from across China to participate, including Chongqing Science & Technology Venture Capital Co., Ltd., Baichuanghui International Biotechnology (Wuhan) Co., Ltd., Shanghai Chuangrui Investment Management Co., Ltd., and Guojian Capital (Guangzhou) Medical Investment Co., Ltd. For high-quality projects, the competition’s investment fund and venture capital firms will provide ongoing support.
Centered on the semifinals and finals, the competition offers a comprehensive suite of supporting activities held in the host city, including industry summits, project matchmaking, professional training, and product exhibitions. These initiatives provide an effective platform for collaboration and exchange among enterprises, investment institutions, and local governments, enabling participating companies or projects to secure financial, resource, and technical support to accelerate their implementation. Finalist enterprises are also eligible for substantial cash prizes and will receive priority referrals to the competition’s investment fund as well as venture capital and private equity firms.
The competition will also invite over 100 industry experts, including Nobel laureates, academicians of national academies, specialists from Cleveland Clinic, venture capital experts across China, and hospital experts, to evaluate the participating companies. In addition, participants will have the opportunity to engage in face-to-face discussions with industry leaders for entrepreneurial mentorship, jointly addressing questions and challenges arising in their projects. They will also stand a chance to secure multifaceted support from these leaders, including resources, funding, and technical assistance.
Introduce the 80 shortlisted outstanding projects through professional healthcare industry media such as VCBeat, thereby establishing a platform for dialogue between project teams and investment institutions. Conduct in-depth interviews with advancing teams to enhance their industry standing and visibility. Provide comprehensive coverage of the grand finals, including live broadcasts via television and online platforms, as well as print media publicity. Concurrently, organize science popularization activities related to the relevant industry, enterprises, or projects, and provide follow-up reporting on the mentoring received by the winning teams.
Facilitate deep and efficient alignment between health and medical solutions and industry demands, while promoting exchanges in advanced medical technology innovation between China and the United States and attracting high-quality projects to the Innovation Ecosystem around Chongqing Medical University for project commercialization. Furthermore, among the 80 projects shortlisted in the preliminary round, the eight projects ultimately awarded first, second, and third prizes through the advancement rounds and the grand finals will gain direct access to the official roadshow at the “2019 Cleveland Healthcare Innovation Summit” in the United States. Core team members of these roadshow projects will receive complimentary or discounted coverage for entrance tickets, airfare, and accommodation, enabling them to compete with global healthcare solutions and vie for substantial cash prizes.
The government attaches great importance to this competition and actively promotes the comprehensive and balanced development of the healthcare ecosystem. The event is guided by the Chongqing Municipal Science and Technology Bureau, the People’s Government of Yuzhong District, Chongqing, and Chongqing Medical University, and is jointly hosted by the Science and Technology Bureau of Yuzhong District, Chongqing; the Administrative Committee for the Construction of the Dashihua New Area in Yuzhong District, Chongqing; the Chongqing International Medical Innovation Center; and the Sinopharm Group Medical Device Research Institute, among other organizations.
The top eight finalists will receive priority access to a million-yuan seed fund. Projects that meet the requirements of the Technology Innovation Fund for Small and Medium-sized Sci-tech Enterprises and the Venture Capital Guidance Fund for Small and Medium-sized Sci-tech Enterprises will be given priority support. Those satisfying the criteria of relevant science and technology programs will be included in the candidate project pool and granted priority support. Priority recommendations will be made to competition-affiliated investment funds and venture capital institutions for follow-on support. For mature projects, the Organizing Committee will provide free coaching and training on mergers and acquisitions, shareholding reform, and initial public offerings. Local governments and institutions will offer complementary policy support to outstanding enterprises.
The national registration channel is now open. Enterprises that self-assess as meeting the eligibility criteria may scan the QR code to follow and log in to the official WeChat account of “Chongqing International Medical Innovation Center” for unified registration, or visit the competition’s official website.www.cncimic.comRegister,and submit the complete registration materials to the designated email address of the competition organizing committee2019brk@cncimic.com, and assume responsibility for the accuracy and authenticity of the information provided.
Enterprises or projects may also be recommended by the organizing committees of various sub-regional competitions, science and technology administrative departments, high-tech industrial parks, technology incubators, and other relevant departments and partner organizations.
Registration Deadline: 20:00 on August 10, 2019. The Organizing Committee will send confirmation emails to participating enterprises by August 13.