Chunhui Cup fuels startup ambitions

An increasing number of young Chinese abroad are eyeing the alluring market of their motherland — some fly right back after graduation to start companies, while others make their pitches at a competition for overseas Chinese.

Zhang Qiyue, Chinese consul general in New York, announced the launch of the third Chunhui Cup in the New York consular district on April 30 during the Chinese University Alumni Alliance Development Forum in New York.

“The age of technology development and innovation and entrepreneurship has arrived in China,” said Zhang. “The core of innovation is the talent. The Chinese government has been actively building stages for the overseas talents to show what they can do.”

The Chunhui Cup, sponsored by China’s Ministry of Education and the Ministry of Science and Technology since 2006, is a competition that encourages young Chinese to choose China as a place to start businesses.

It provides a platform for entrepreneurs to flaunt their ideas and connect with potential investors.

Han Bicheng, a secondyear PhD student in brain science at Harvard University and founder of BrainCo, was looking to participate in this year’s cup after winning the top $100,000 award at the CUAA Entrepreneurship Competition.

“The competitions are the rare chances that these extremely experienced businessmen, investors and people in the industry sit there quietly and listen to me talking for 10 or 20 minutes about our idea,” Han said.

“It’s important to hear how the people in the capital market look at us, and that’s the most valuable part,” he said.

It’s important to hear how the people in the capital market look at us, and that’s the most valuable part.”

Han Bicheng, a student at Harvard University