Houston – August 1, 2018 – InnoSTARS, organized by U.S.-China Innovation Alliance, a nonprofit with the mission to connection U.S. innovations with Chinese resources, is a nationwide competition that selects U.S. technology companies for the Chinese market and investors. With the successful completion of the InnoSTARS Seattle preliminary round on July 27th, 2018 InnoSTARS has completed its U.S. preliminary round spanning seven U.S. cities.
Across the seven innovation centers: Chicago, Denver, Atlanta, Houston, San Francisco, Boston, and Seattle, where InnoSTARS Preliminary rounds were held, nearly 1000 companies applied to compete. About three hundred U.S. companies were selected from this pool to pitch in front of a group of expert judges. Advancing companies from the U.S. preliminaries will travel to China this fall on an all-expense paid trip to compete for cash prizes and meet market expansion partners and investors.
In addition to the opportunity to travel to China this fall to compete in the later round of the InnoSTARS 2018 competition, select companies will also be invited to attend the 2018 “Talents Make Future” Overseas Innovation and Entrepreneurship Competition, which will be held in Guangzhou in mid-December.
With the successful completion of the InnoSTARS 2018 preliminary round in U.S., UCIA will now focus on the China portion of the competition. An estimated 100 U.S. companies will visit China this fall through the InnoSTARS program.
Despite the current trade tensions between the U.S. and China, the record-setting U.S. application numbers and the line-up of Chinese cities eager to welcome these businesses demonstrate a strong desire for collaboration between American and Chinese entrepreneurs.
Freidoon Rastegar, CEO of Solid State Battery, Inc., stated, “China is actually an easier place to start for some of U.S. entrepreneurs. As a country, it is moving very fast and you will want to be there!” Rastegar’s company was one of the many competitors at InnoSTARS Seattle on July 27th.
“It is a great honor to be selected for the InnoSTARS Program. The standard of the pitch event in Seattle was exceptional.” —-Robert Monster, CEO, DigitalTown
“We enjoyed the opportunity to present to your group today and wish everyone well in the process. We were impressed by the companies that you selected for this phase of the competition and see value in most. Thanks for including us in the process.”
—-Darrel Smith, President/CEO, HydroStar USA
“InnoStars is an entrepreneurial channel for U.S. technology companies to access Chinese players and markets. The eclectic mix of judges, presenting CEOs, and innovations had me on my toes and engaged for 9 hours.” —-Ryan Vogel, Executive Director & Founder, PureBlue
The success of 2018 InnoSTARS competition, as demonstrated by the record-setting number of applications, has been made possible through collaborations between many American and Chinese organizations. UCIA and its partners are confident this innovative collaboration will continue with the support of many stakeholders from cities and states of both countries.
About U.S.-China Innovation Alliance
The U.S.-China Innovation Alliance (UCIA) is a non-profit 501(c)(3) tax-exempt organization that promotes innovation through the exchange of ideas and collaboration between China and the U.S.. UCIA organizes the annual U.S.-China Innovation and Investment Summit (UCIS) in Houston, which provides a unique opportunity for innovative technology companies to connect with investors, strategic partners, leading incubators/accelerators, and professional service firms from China. In 2017, UCIA launched the InnoSTARS Competition, which invites U.S. technology companies to compete for the chance to win attendance to UCIS as well as an all-expenses paid roadshow to China, where they will have an opportunity to showcase their business and products to a wide audience of qualified potential investors and relevant partners. UCIA also organizes roadshows to bring innovative U.S. technology companies to China for B2B matchmaking and provides other services to help U.S.-based companies connect with complimentary Chinese resources.