WUHAN, China, Sept. 29, 2021 /PRNewswire/ -- September 24th witnessed the final of Auto Valley Capital Island - Industry Innovation Competition in Wuhan Economic & Technological Development Zone (Hannan). After three months of mass election, preliminary contest and semi-finals, a total of 12 teams stood out from more than 1,200 startups in these competition. After fierce competition, Nanjing Chuhang Technology Co., Ltd. won the champion, while Nextdata Co., Ltd. from Beijing and DeepRoute.ai from Shenzhen won the second place respectively.
It is reported that the startups for the competition cover the following three industries such as vehicle transportation and new energy, intelligent manufacturing and advanced materials, intelligent household and modern architecture industry, as well as general aviation, life science and health, and modern services. It presents a new atmosphere of innovation and entrepreneurship for us, with not only large and comprehensive general technologies and platforms, but also more and more small and unique innovation.
The outstanding startups in the competition can win up to 200,000 yuan award, 3 million yuan company settlement award and settlement investment of minimum 20 million yuan. In addition, according to the conditions of the enterprise, a lot of accumulated preferential policies will be enjoyed by the winning startups, including the priority of enterprise settlement, talent plan, project funding, site support, and innovation awards.
At the scene of the competition, the audience witnessed the show of 12 high-quality startups in turn. Chuhang Technology Co., Ltd. from Nanjing, who won the champion, is the vanguard of millimeter wave radar industry and broke the market monopoly. The 77GHz millimeter radar wave launched by it has been mass-produced on a number of domestic passenger and commercial vehicle platforms. Chu Yongyan, CEO of the company, said, "Chuhang Technology is mainly engaged in the R&D and production of radar. It is the unique team that has really manufactured vehicle-mounted millimeter wave radar in China, which has profound technical reserves in advanced radar algorithms. The team has won many patents at home and abroad, truly promoting the mass production of domestic vehicle-mounted millimeter wave radar."
After the competition, Chu Yongyan received interview and said that, the automotive industry chain in Wuhan Economic & Technological Development Zone (Hannan) is comprehensive, and there are a lot of application scenarios for automatic driving. He has confidence in the future of the development, so he intends to built the company here.
DeepRoute.ai from Shenzhen is a company focusing on L4 autopilot. Wang Tian, head of the Ministry of Commerce of the company, said in the roadshow, "We had built a motorcade with Dongfeng Motor Corporation as early as our company was founded in 2019. Later we joined the Dongfeng Pilot Plan. In the future, we will invest more than 100 automatic driving taxis in Wuhan Economic & Technological Development Zone (Hannan)."
Xie Guiwang, Secretary of the Party Committee and chairman of Wuhan Economic Development Investment Co., LTD, said that the final of Auto Valley Capital Island - Industry Innovation Competition not only displayed numerous startups on the site, but also presented the innovation genes. Taking the event as an opportunity, people will build Auto Valley Capital Island with high standards and promote innovation and development comprehensively in the future. Meanwhile, a number of application scenarios will be opened as soon as possible, thus empowering the development of Wuhan Economic & Technological Development Zone (Hannan).
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