The awarding ceremony of the fifth Global New Materials Startups Contest on Sept 26. [Photo/ zj.zjol.com]

Ningbo has been striving to develop its new materials industry via its annual global new materials startups contest in recent years, with 10 top projects awarded at this year's event that ended on Sept 26.

These projects, after settling in Ningbo Hi-Tech Industrial Development Zone, will be supported with government funds of up to 40 million yuan ($5.82 million) if they meet the requirements of the city's "3315 Plan" for talent attraction.

They will also have the opportunity to enjoy a reward of up to 500,000 yuan and rent allowances for apartments, up to a maximum size of 500 square meters, for three years, among other support in finance and loans.

The contest, launched on Mar 30, has attracted over 300 projects for its selective trials in six locations at home and abroad, including China's Shenzhen, Xi'an and Harbin, as well as Lyon in France, and Berlin in Germany, and also in video form throughout North America. 

Having been held annually since 2014, this year's contest serves as an important part of the 2018 Ningbo Talents, Science and Technology Week, with the purpose of introducing outstanding projects in new materials to the city.

As a key national base of the new materials industry, Ningbo achieved an output of nearly 140 billion yuan in the sector in 2017, up 28.2 percent year-on-year. Its Hi-Tech Industrial Development Zone now boasts nearly 70,000 professionals in all walks of life.

Local authorities award the top two projects at the awarding ceremony on Sept 26. [Photo/ zj.cnr.cn]