The final of the 9thChinaInnovation & Entrepreneurship Competition ended in Hangzhou, Zhejiang Province on November 6, 2020. Out of 35,000 competing enterprises, 34 businesses entered the final.
Tianjin Yunyao Aerospace Technology Co., Ltd and Huaxin Intelligent (Zhuhai) Technology Co., Ltd, two companies both supported by Peiyang Begonia Venture Capital Fund, a private fund established by Tianjin University’s alumni made it into the top 12 of the Start-up Group.
Peiyang Begonia Venture Capital Fund is initiated by well-known alumni of Tianjin University under the organization of Tianjin University Alumni Association. Through an investment and financing system, the fund connects entrepreneurial alumni across the country and together with many excellent investment institutions like Tianjin Venture Capital, Volcanics Venture and Renai Capital, reach out to help entrepreneur projects led by TJU alumni via financial support, resource docking and technology cooperation. It mainly invests in high growth science and technology projects promoted by Tianjin University alumni, teachers and even students.
Tianjin Yunyao Aerospace Technology Co., Ltd is a high-tech enterprise specializing in the research and development of space and meteorology exploring payloads, relevant data inversion and application. Founded by Dr. Li Feng graduating from Tianjin University, the company aims to build a global meteorological satellite network, assist the development of upstream and downstream industries, and form a real-time global ionospheric atmosphere detection system, which can serve the global short-term and imminent earthquake prediction and weather prediction. This year, the GNSS occultation weather detection payload developed by the company has been launched twice by the Long March 6 launch vehicle and entered the predetermined orbit, establishing a occultation data acquisition system that laid the foundation for the global meteorological satellite networking.
Huaxin Intelligent (Zhuhai) Technology Co., Ltd. is devoted to developing global leading high-performance MEMS inertial chips and navigation modules. Its main products include high-performance MEMS gyroscope chips, accelerometer chips, high-performance inertial navigation modules and integrated navigation modules. Acting as the cerebellar chips of moving objects, its products involve in decision-making process for the top-level planning of the brain and are widely used in military equipment, aerospace industry, and navigation equipment.
“Tianjin University has always regarded innovation and entrepreneurship education as an important part in talent training and promoting the construction of world-class universities,” said Liu Yi, the founder of Peiyang Begonia Venture Capital Fund, also the Chairman of the Board of Andon Health Co., Ltd, “The founders of the two companies are both TJU alumni. It is typical of TJU alumni to start up a business related to Key & Core technologies.” Liu added that the Fund would strive to build an innovation and entrepreneurship base at Tianjin University that would harbor 100 alumni-led companies and incubate 10 Unicorn Enterprises in the next five years (a unicorn is a term used in the venture capital industry to describe a privately held startup company with a value of over $1 billion).
The China Innovation and entrepreneurship competition is jointly organized by the Ministry of Science and Technology, the Ministry of Finance, the Ministry of Education, the Central Network Information Office and the All-China Federation of Industry and Commerce. It aims to implement the major deployment of "mass entrepreneurship and innovation" proposed by the CPC Central Committee and the State Council, guide all sectors of society to support innovation and entrepreneurship, and build a platform for service innovation and entrepreneurship. After a decade’s development, the competition has become the most influential and far-reaching innovation and entrepreneurship competition in China with the widest coverage.
By Eva Yin