The Guizhou division of the 2019 Maker In China Innovation and Entrepreneurship Competition for small and medium-sized companies kicked off in Southwest China's Guizhou province on May 6, with 550,000 yuan ($80,269.83) worth of prizes up for grabs.

The competition aims to discover and cultivate excellent projects and teams, thus promoting innovation and entrepreneurship in China. It will last for three months with preliminary contest, semi-finals, and finals periods.

All entries that apply should be small and medium-sized companies registered in Guizhou, and be involved with Internet Plus, smart manufacturing, traditional industries, emerging industries, cultural and creative industries, or public service and technology supporting platforms.

After the preliminary contest, 100 projects will be selected and take part in the semi-finals, which will be held on June 19. About 20 projects will enter the finals after they are presented, defended, and graded during the semi-finals.

The finals will be held on July 5 and select two first prize winners that will be awarded 50,000 yuan each, six second prize winners that will beawarded 30,000 yuan each, 12 third prize winners that will receive 10,000 yuan each, and 30 excellence prize recipients that will receive 5,000 yuan each.

The wining projects will attend marketing events, receive financial support from competition sponsors, enjoy preferential supporting policies, and be tutored by entrepreneurial mentors and experts in investment, management, and technology.

The winning projects will also be exhibited at the first Guiyang Industrial Products Expo in July and attend the national competition of the 2019 Maker In China Innovation and Entrepreneurship Competition.