Groups of participants from Silicon Valley promoted their ideas at the contest. Four of projects were selected for the semifinals. One of them, a project promoting an innovative technology which turns waste straws into building materials was highly favored.

"I know Ningbo's manufacturing industry is very good, which is beneficial for us to develop production equipment," said Zhang Ying, one of the founders of the team. She said they've paid 15 visits to China in the past two years for the possibility of commercializing the technology.

Zhang Ying, a founder of the project that aims to make building materials from waste straws, introduces their technology at the contest on Aug 7. [Photo/WeChat saichuangweilai]

Previous contests have attracted more than 1,000 projects from home and abroad and have successfully introduced over 30 projects to Ningbo.

Ningbo became the first national pilot city for "Made in China 2025" strategy in 2016 and in the same year, the municipal government released a document which listed the new material industry as one of the key industries in the city.

The total output of the new material sector is expected to reach 400 billion yuan ($60.03 billion) by 2020 and 800 billion yuan by 2030, according to Ningbo government.