SOURCE: InnoSpring, Inc.

InnoSpring, Inc.

May 23, 2017 11:00 ET

InnoSpring's Fourth Annual Smart City Contest Welcomes Submissions from Pioneering Startups Worldwide

Internationally-minded startups with winning ideas will receive up to $290K in capital to jumpstart their businesses

SANTA CLARA, CA--(Marketwired - May 23, 2017) - InnoSpring, a global innovation services provider, announced today the call for submissions to its annual Smart City Startup Contest. InnoSpring is seeking the best and brightest ideas from young startups and teams in the smart building and construction sectors from around the world.

The deadline for entries is Thursday, June 15, 2017. Early-stage companies and project teams are invited to apply online and send submissions to innochallenge@innospring.cn. This year, InnoSpring is looking for business plans and ideas in six categories:

  1. Digital Design
  2. Pre-Fabrication and High Function Building Material
  3. Construction Automation
  4. Smart Equipment
  5. Building Lifetime Management
  6. Smart Science Park and Smart City

Now in its fourth year, the Smart City Startup Contest is one of the many ways that InnoSpring is supporting the global Smart City industry. The winning company will receive up to US$290,000 in startup capital, and cash prizes will also be given to second and third place runners-up. Participants can also gain exposure to and access venture capital and angel investors and 68 industrial leaders in the Smart City industry sector that represents $100M construction market from China. Many of the past winners have received additional investment and funding.

"The success of the Smart City Startup Contest illustrates the excitement and the growth in this market and we are devoted to facilitate open collaboration between early-stage companies and industry giants from China," said Dr. Xiao Wang, chief fire starter and general manager, InnoSpring Silicon Valley. "This contest has been successful in helping catapult many startups and we're looking forward to hearing fresh ideas, meeting entrepreneurs that are just as energized about Smart Cities as we are, and working together with companies that will define the future of Smart Cities."

Contest events will be held in the San Francisco Bay Area and Nantong, China. Select companies will get a chance to demo and pitch their ideas in InnoSpring's Santa Clara, Calif. office in June. Two finalists will be invited to travel to Nantong, China in August to present to a panel of 15 judges that consist of InnoSpring executives, leading venture capitalists, and industry thought leaders. Known as China's "first modern city," Nantong is one of China's Central European Green Smart City 15 pilot cities.

The global Smart Cities market is poised to grow rapidly to $3.5 trillion by 2026 (source: Persistence Market Research), with huge opportunities in infrastructure, energy, and security.

InnoSpring has been leading the smart building innovation service ecosystem in China, including:

  • Developing the Smart Building Research Institute in Nantong, China
  • Establishing a Smart Building Venture Fund in Nantong, China
  • Forming an industry alliance of 68 construction, management, and development corporations Funding and incubation for startups
  • Promoting innovation through activities such as Smart City Startup contest

Please visit the Smart City Startup Contest homepage for more information.

About InnoSpring
Founded in 2012, InnoSpring derives its name from its Chinese origin, which means "the spring from which innovation flows." Headquartered in Shanghai, InnoSpring has grown rapidly and is today a global innovation services provider with businesses ranging from professional and technological innovation services, investment management, space solutions, and regional, cross-border expansion. With a global vision and global networks, InnoSpring is devoted to building a worldwide integrated platform of end-to-end services for startups. Currently, InnoSpring already manages two science parks and four incubators in China and US.

InnoSpring (Silicon Valley), a subsidiary of InnoSpring, is the first US-China technology startup incubator for globally-minded companies. InnoSpring strives to accelerate cross-border entrepreneurship and innovation in US, China and beyond by providing a nurturing startup ecosystem with a wide variety of supportive mentors, financing, and resources on both sides of the Pacific. Launched in April 2012, InnoSpring (SV) is located in Santa Clara, California, with an office in San Francisco. www.innospringus.com.

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