The final for the 2017 international innovation and entrepreneurship competition takes place in Taiyuan, Shanxi province, on Dec 21. [Photo/sxrb.com]

An international innovation and entrepreneurship conference and competition targeting business incubators, startups and investors opened in Taiyuan on Dec 21.

The event hosted by Taiyuan government and China Center for Information Industry Development aimed to stimulate the market for innovation and entrepreneurship, attract more related projects to Taiyuan and offer industrial support for Shanxi province's economic transformation and upgrading.

Experts, startups, internet companies, business incubators, representatives of investment institutions and government officials attended the conference, discussing such topics as industrial innovation, and investment and financing, through the communication platform established by the conference.

An innovation and entrepreneurship competition was also held after the conference, attracting more than 100 teams and individuals from the Chinese mainland and 10 teams from Hong Kong, Macao and overseas areas.

Through the competition, the organizers intended to let startups in those regions learn more about the province’s environment for innovation and entrepreneurship and encourage them to bring groups, programs and businesses to Taiyuan.

Winners of the competition will enjoy bonuses and preferential policies in introducing and incubating projects which benefit the regional economy, according to the Taiyuan government.