Online registration for the Cross-Straits Youth Innovation and Entrepreneurship Invitational Tournament is open until June 5. [Photo/hxlaqn.greytile.cn/]

An innovation and entrepreneurship competition to be held in July in Xiamen, Fujian province, is expecting talents from both sides of the Taiwan Straits to enjoy chances to win big prizes and turn their profitable businesses into reality. 

The Cross-Straits Youth Innovation and Entrepreneurship Invitational Tournament has recently opened its online registration, which is accessible at hxlaqn.greytile.cn until June 5. 

Designed to spur innovation in scientific and technological industries in line with Xiamen's developmental directions, the competition will run on a larger scale with a larger prize pool and more awards than last year. 

Participants will compete in separate groups of startups and entrepreneurial teams and have to present their business plans.

Organizers visit Taiwan from May 19 to 24 for event promotion. [Photo/hxlaqn.greytile.cn/]

On offer is 2 million yuan ($289,352) in support funds to be shared among 27 competitors, not to mention favorable policy treatment as an additional benefit. The winners in the startup group and entrepreneurial team group categories will receive 200,000 yuan and 150,000 yuan, respectively. Award-winning teams and companies will also be given priority access to capital and investment, subsidies, and office spaces. 

The competition will be held during the 2019 Cross-Straits Youth Innovation and Entrepreneurship Seminar from July 8-12. The final round is scheduled for July 10. 

The competition was first initiated in 2017. This year's event is sponsored by the Cross-Straits Science and Technology Exchange Center of the Ministry of Science and Technology and Xiamen Science and Technology Bureau. It is jointly organized by the Xiamen Science and Technology Exchange Center and Grey Tile Capital.

Organizers visit Taiwan from May 19 to 24 for event promotion. [Photo/hxlaqn.greytile.cn/]