Finals of 2017 "Protechting-Innostar" Global Innovation Competition held in Ningbo

HONG KONG, Sept. 11, 2017 /PRNewswire/ -- In the afternoon of September 11th, the finals of 2017 "Protechting-Innostar" Global Innovation Competition co-organized by Ningbo municipal government and Fosun Group was held in Ningbo Grand Theatre. 13 teams from China, USA, Portugal, Italy and Spain joined the competition.

"Protechting-Innostar" is a global platform for exchanges among young entrepreneurs. Created by Fosun Group under the idea of "Innovation is about people", it aims to help young entrepreneurs to realize their dreams and cooperate with famous domestic and international innovation incubators, venture capital funds and commonweal organizations. The competition begun in January 2017, and was successfully promoted in "Geek Davos" Websummit and G20 Young Entrepreneurs' Alliance (G20 YEA). "Protechting-Innostar" attracted more than 1000 teams of young entrepreneurs from 31 countries who participated in the competitions in Lisbon, Berlin, Beijing, Shanghai, Shenzhen and Hangzhou.

Fosun Group brought international experts and resources to help the contestants to carry out training in market, finance, manpower, venture capital and big data. During the program, Fosun Group provided the incubation and acceleration of entrepreneurial projects, and the Top 13 teams were chosen to join in the finals.

The finals of 2017 "Protechting-Innostar" Global Innovation Competition was held in Ningbo, which shows the local society's recognition for Ningbo's development in insurance innovation. In the past 10 years, Ningbo brought up to nearly 100 insurance innovations on its social governance and people's livelihood guarantee. Last year, it was approved to be the first comprehensive test area in China for national insurance innovation. This year, China Insurance Regulatory Commission issued 14 policies and specified that the existing insurance policies of all free trade zones in China can be implemented in Ningbo. Recently, Ningbo is proceeding to further explore insurance innovation achievement protection, policy-based small and micro enterprise property insurance, set major technical equipment insurance and carry out pilot projects successively. It has become a true insurance innovation city.

2017 "Protechting-Innostar" Global Innovation Competition inputs strong power and intellectual support for the construction of Ningbo's national insurance innovation comprehensive test area and creates an insurance innovation communication platform with international perspective. It further pushes Ningbo to be a fertile land for domestic and international entrepreneurship and a stage for entrepreneurs to show their talents, while improving Ningbo's international influence and the city image on insurance innovation and entrepreneurship.

The contestants brought innovation projects with focus on financial insurance, health and artificial intelligence around the topic "Financial Insurance and Medical Health" in order to improve traditional enterprises' internal efficiency and profitability through technical innovations and by means of Internet. The teams entering the final stage had the chance to win an investment from Fosun Group and the 3 winning teams will get funds of RMB 100,000 (around EUR13,000) and additionally will be supported on innovation achievement transformation and project market linkage.

The member of Standing Committee, Ningbo Municipal Party Committee and Deputy Mayor, Liu Changchun, Deputy Mayor of Ningbo, Chu Yinliang and Fosun Group CEO, Wang Qunbin awarded the winning teams. The judges are experts and scholars in the industry: Executive Board Director, Senior Vice President of Fosun Group and President of Fosun Insurance Group, Kang Lan, the founder and CEO of CYzone, Nan Lixin, the managing partner of Hongtai Fund, Peng Chuang, the Managing Director of Share Investment Medical Health Fund, Xie Kai, the Vice President of Verisk, Chen Yang, the Vice Chairman of Insurance Institute of China, He Wenjiong and the General Manager of Yi'an Property Insurance, Cao Haijing. The representatives of Consulate General of the Republic of Portugal in Shanghai and European Union Digital Association also attended at the finals in Ningbo.