A press conference is held on Dec 1 to kick off the 3rd Global Contest of Innovation in Smart Manufacturing in Yuyao, Ningbo. [Photo/zj.zjol.com] 

The 3rd Global Contest of Innovation in Smart Manufacturing kicked off in Yuyao city in Ningbo, East China's Zhejiang province, on Dec 1.

The contest is being held to attract and award global innovative projects in smart manufacturing, robot, and high-end equipment. 

Dozens of first-class investment institutions from home and abroad will be invited to judge the contest, who will decide two outstanding winners and ten first, second and third prize winners, according to the organizing committee. 

The awarded projects will be granted funds up to 20 million yuan ($2.91 million), and will be engaged in cooperation discussions with some of the leading local companies. 

Yuyao has been devoted to driving the development of its smart economy through introducing talents, with multiple innovative platforms having been built over the years, such as the Zhejiang University Robotics Institute and the Ningbo Intelligent Manufacturing Industry Research Institute. 

It initiated the Global Contest of Innovation in Smart Manufacturing in 2016 and has attracted many quality projects to settle over the past two years. 

With an emphasis on development driven by industry, Yuyao has formed a distinct and competitive industrial system focusing on home appliances, photoelectric information, new materials, energy-efficient lighting and auto parts.

Yuyao government and Zhejiang University sign an agreement on April 24, 2017, to jointly establish the Zhejiang University Robotics Institute. [Photo/zju.edu.cn]

The Ningbo Intelligent Manufacturing Industry Research Institute in Yuyao [Photo/yynews.cnnb.com]