Global Digital Economy Innovation Competition 2022 Kicks off, Digital Elites Accelerate Industry Development

DigitalCFO Newsroom | 11 April 2022

The digital economy is influencing the global economy.

According to IDC, the output value of the digital economy will account for 62% of the global GDP by 2023, when the world will enter a new era of digital economy in an accelerated way.

China’s 14th Five-Year Plan (2021-2025) clearly proposes to “strengthen overall planning for the Digital China initiative and encourage development of the digital economy”. As a leading city in the development of the digital economy, Beijing is actively implementing China’s overall strategic plan, circling around the accelerated release of the new vitality of the digital economy.

As a platform to gather global digital resources, the Global Digital Economy Innovation Competition (GDEIC for short) 2022 will be grandly launched in Beijing on April 7 to promote the deep integration of digital technology and real economy, stimulate the innovation vitality of enterprises, and help the development of Beijing’s digital economy industry.

As an important part of the Global Digital Economy Conference 2022, the GDEIC is jointly organized by Beijing Municipal Bureau of Economy and Information Technology, Chaoyang District People’s Government of Beijing Municipality and Asia Digital Group. With the theme of “Scientific and Technological Innovation Empowers Industry – A New Pattern of Digital Economy”, the competition, based on internationalization, specialization and industrialization, renders the overall competition structure of “1 + 5 + N”, that is, one final and five sub races, as well as supporting exhibitions, industrial matching and cloud competition. The global final will be staged at China National Convention Center in Beijing at the end of July 2022.

Gather Global Power to Embrace New Areas of Cooperation

Since its inception, the GDEIC aims to serve China’s digital economy strategy and link global high-quality innovation resources. It has become a significant exchange and cooperation platform for technologies, achievements, and enterprises, all with innovation, of global digital economy.

Based on the new development trend of global digital economy industry, the GDEIC 2022 brings together cutting-edge technologies in the field of digital economy, high-level digital projects and international venture capital institutions to realize the industrial and capital matching of international high-end innovation resources, global capital and China’s innovation carriers, so as to promote the digital economy to better serve and integrate into the new development pattern.

Adhering to the global vision and international standards, the competition adopts the combination of online and offline, and is open for over 30 global cutting-edge innovative countries including Germany, the United Kingdom, France, Singapore, Israel, Italy and New Zealand, as well as first-class innovative cities in China. The selection criteria for projects will center on the hot issues, key points and difficulties in the development of the global digital economy. Innovation projects that are leading and promising in the field of digital economy will be cherry-picked from key industries such as the new generation of information technology, digital health, digital culture and sports, digital low carbon, digital consumption, and digital manufacturing. Specifically, 20 sub-sectors are included, for example, artificial intelligence, block chain, network security, digital life and health, digital new media, digital sports, new energy, digital environmental protection, Guochao and intelligence, integrated circuits, industrial Internet and spatial geography. International, diverse and high-quality interactions can be formed by gathering high-quality projects from different countries and regions, so as to create more transnational and cross-regional cooperation.

The competition creates a brand-new atmosphere via advanced digital technology. In detail, a highly futuristic event will be presented on site with the help of digital technology while the online platform enables participating projects to be involved in exhibitions and conduct communication and matching through dynamic display, online conference, webcast and other technical means to break space-time restriction.

Seek New Energy for Pioneering Development

China is actively expanding digital industry and promoting digital transformation of traditional industries, guiding the deep integration of digital economy and real economy, and propelling high-quality economic development.

As one of the international events hosted at the highest organizational level in the field of digital economy in China, executives from more than 200 global head investment institutions such as IDG Capital, Sequoia Capital, SBCVC, ASBV and GSR Ventures will be invited as investment mentors. Meanwhile, experts, scholars and industry elites in this field will be invited to participate in the competition. The investment mentors, from the perspective of capital, will guide and evaluate the participating projects from multiple dimensions such as global market analysis, industry insight, business model, technical direction, development skills and market promotion. Guests here expound points of view in terms of the development in digital economy and discuss the trend of digital economy industry in combination with the theme of the event.

Strengthening industry matching and promoting the implementation of projects are the focus of this competition. For this purpose, a series of activities such as policy promotion, industry matching and exchange, and visits to enterprises will be arranged to build a bridge of communication for the government, enterprises, capital, and innovative projects, so as to accelerate the implementation of the projects, and realize the digital transformation of traditional industries. Leading enterprises such as state-owned enterprises, Fortune 500 enterprises, and industry leaders will conduct one-to-one exclusive matching with participating companies, and make every effort to promote the entry of participating projects to Beijing and help build a new engine of the digital economy. The full participation, from the competition to the supporting activities, of investment institutions will channel more opportunities to participating projects to interact with capital.

Channel Favorable Resources to Attract Future Unicorns to Jointly Create a Better Future

As a benchmark event for digital economy entrepreneurship, the GDEIC serves as a platform for communication and resource sharing to promote the support policies for innovative projects and high-end talents in the host city of the competition, and facilitate the high-quality development of Beijing’s digital economy industry.

It is worth noting that Chaoyang District, Beijing, where the final of the competition will be held, is seizing the opportunity of a new round of technological revolution and industrial transformation and actively integrating into the Digital China initiative by cooperating with the construction of Beijing into a benchmark city for the global digital economy, and making every effort to promote digital optimization and upgrading in various fields. High-quality construction of Beijing’s IN.GEN Center and enhancement of industrial clusters including artificial intelligence, integrated circuits, industrial Internet, network information security, and spatial geographic information make for the construction of Beijing’s Digital Economic Computing Power Center, the expansion of the digital consumer market, and the transformation and upgrading of trade in digital services to further enhance regional core functions and competitive advantages. The sound entrepreneurial environment for digital economy in Chaoyang District will help the participating projects develop and achieve greater achievements. The competition will set up a reward mechanism to support winners in multiple dimensions.

The digital economy has become a new driving force for global economic development. The Global Digital Economy Innovation Competition 2022 will bring together the upward forces of the digital economy era to help accelerate the development of the digital economy industry and create a better digital future.