Representatives of overseas innovation enterprises who took part in the Z-Park Silicon Valley Innovation and Entrepreneurship Competition in Beijing said that they aim to find business partners and enter the Chinese market as soon as possible.

The final of the Z-park Silicon Valley Innovation and Entrepreneurship Competition was held on Dec 3, and the event is an exchange activity initiated by the Z-Park management committee. It aims to strengthen communication and cooperation between Z-Park pioneering enterprises and teams and overseas pioneering teams – and to promote exchange activities to attract overseas innovating enterprises to invest in China.

The first round of the competition was held in May, and high-tech start-ups from countries including the US, UK, Australia, Canada, Singapore and Japan, entered the event. A total of 12 new enterprises from Silicon Valley, New York and Boston entered the final, with specialties including biological medicine, healthcare, environmental protection and new materials.

Gong Qiang, founder of Aptitude Company, in California, won first prize, and said that he and his partners are looking for suitable companies, hospitals and retailers interested in diagnostic reagents, and that he hopes to enter the Chinese market as soon as possible.

Polymer Greenalso in California – came second, and focuses mainly on the bioenergy industry. Its self-designed catalytic pyrolysis technology could turn discarded plastic into high quality fuel oil. The company co-founder, Wang Yichao, who holds a master's degree in chemical engineering from Stanford University, said that a significant unresolved problem for China is what to do with plastic waste, and that he hopes this technology could be used around the country.

In addition to funding for their projects, this year's winning companies will also be recommended to venture capital institutions and will have the chance to join the Z-Park innovation incubator – with the aim of attracting outstanding pioneering enterprises to enter the Chinese market.

Edited by Chen Zhilin and Niva Whyman