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Humpback Whale Wins Second Prize at X-TIME 2024 International Entrepreneurship Competition Finals

On August 28, 2024, the X-TIME 2024 International Entrepreneurship Competition Grand Final was held at Lingang Center. Since March, the competition attracted nearly 500 innovative and entrepreneurial teams from all over the world. After nearly 5 months of fierce competition and 3 rounds of brutal elimination, 48 innovative teams survived and advanced to the Grand Final. More than 300 offline and 2 million online viewers witnessed this historic moment.

In the morning, the semi-finals of the X-TIME 2024 International Entrepreneurship Competition kicked off, with 48 top projects gathering together to demonstrate their unique strengths, from cutting-edge technological innovations to flexible business models, and from the team's ability to sustain development to the reflection of their deep social values. In the end, eight projects, including EasiSmart, eBiz and SphereX, stood out with their outstanding innovative concepts and strong market potential, and successfully advanced to the Top 8 Finals.

In the afternoon finals, under the joint witness of professional judges and mentors, guests from local chain owners and the Sci-Tech Observation Mission, each contestant made full use of the precious 3-minute roadshow time to show the unique charm and innovative strength of their projects. The mentors' questions were sharp and profound, testing the contestants' professionalism and adaptability. The contestants responded calmly and won the recognition and appreciation of the audience with their clear thoughts and precise answers.

In the end, Povisun, Black Lake Technology, Francium New Energy and Ishi Intelligence stood out with their innovative technologies, unique business models and significant social values, and were crowned the winners of the X-TIME competition.

Eight teams, including Kaiwang Data and Humpback Whale, won the second prize by virtue of their innovative concepts, technical strength and precise market positioning, winning high praise from the jury.

Meanwhile, 16 teams, including Xia Tapir Technology and Boya Ruixi, shone brightly from thousands of creative ideas and won the third prize for their excellent business insights and execution.

In addition, 20 teams, including Vector Stack and Tanbii, won a total of 20 awards for their extraordinary creativity and relentless pursuit of excellence, highlighting the fierce competition and unlimited creative energy of the competition.

In addition, the outstanding projects of the competition signed a letter of intent to land. In the future, Lingang will continue to be based on integrated circuits, artificial intelligence and other cutting-edge industries, play a leading role in state-funded venture capital, select and cultivate a number of investment in scientific and technological innovation, value creativity, ecological dominance of strong scientific and technological leaders, the industry chain “chain master” enterprises, and strengthen its demonstration and driving effect in the strategic industry clusters.

At the same time, the signing ceremony of Lingang Science and Innovation Fund to be invested projects and the signing ceremony of science and innovation financial partners were held at the competition site, aiming at promoting the industrial and financial integration capacity of Lingang New Area, building a new ecology of original innovation and industrial innovation upgrading, and launching the science and innovation financial brand of Lingang New Area.

Bank of Shanghai, the chief partner of the Competition, released the exclusive “2+4+5” service plan for Lingang New Area and the Competition, i.e., two exclusive products, four featured products and a five-dimensional empowering service system, which will provide the award-winning projects and the rest of the landed projects with batch credit and customized financial services, and help the seeds of science and creativity to take root and bear fruits in the hot land of Lingang.

Over the past five years, Lingang has initially established a whole chain and whole process science and technology innovation system, with the number of specialized and special new enterprises increasing to 473, and the number of high-tech enterprises reaching 1,493. In the 2.0 era of science and technology innovation, Lingang will increase investment to build a public service platform to help startups solve common key problems from “technology” to “product”, and give full play to Lingang's upstream and downstream procurement subsidy policy advantages to help startups enter the industry chain and iterate through trial and error in practical applications. We will help them to enter into the industrial chain by utilizing the advantages of Lingang's upstream and downstream procurement subsidy policy, and carry out trial-and-error iterations in practical applications. For the winning projects of X-TIME 2024, in addition to the encouragement of prize money, it will be accompanied by the “Angel Accompaniment Program”, which provides a package of policies and services covering the whole of Shanghai through the platforms of the government and the state-owned companies, including support for the settlement of talents and enterprises, subsidies for research and development, free office space, and customized financial services, to help entrepreneurs realize low-cost entrepreneurship in an all-round way. We help entrepreneurs realize low-cost entrepreneurship.

On the occasion of the fifth anniversary of Lingang New Area, through the continuous holding of X-TIME Competition, it is expected that the seeds of future nuclear explosion in the science and technology industry can be discovered, and resources can be focused and incubated in an intensive manner, aiming to cultivate and accelerate a new batch of science and technology unicorns in the Lingang New Area, so that the new area can become the cradle of cultivation and growth of scientific and technological innovation-oriented enterprises.

Wu Xiaohua, Deputy Secretary of CPC Working Committee of Lingang New Area, Zheng Guanghong, Second Grade Inspector of Municipal Science and Technology Commission, Gong Hongbing, Member of CPC Working Committee of Lingang New Area, Yu Minhua, Vice President of Bank of Shanghai, and Gu Chunhua, Vice President of Lingang Group attended the event.