Later in July, the 11th China UK Entrepreneurship Competition will launch. The competition aims to encourage new business ventures between China and UK. It is intended to simulate the real-world process of entrepreneurs soliciting start-up funds from early-stage investors and venture capital firms.
For this year, the competition has worked with the £5 million China UK Enterprise Fund to participate in and shape the innovation, technology and economy in the UK in light of the challenges posed by Brexit. According to the Newcastle Chronicle, 2018’s competition will have a particular focus on the North East of the UK.
As we’ve reported extensively in recent months, individual areas and regions of the United Kingdom are also keen to attract Chinese interest. For example, we revealed in February that businesses and leaders in the North East of England had made a concerted effort to highlight their areas.
That report followed concerns that the ‘Northern Powerhouse’ policy of the British government had attracted extensive interest in Birmingham and Manchester, but had perhaps neglected other cities.