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2016 Entrepreneurship Contest in Yiwu
Post Time:28/11/2016 Browse Number:

    On November 3, the 2016 E-commerce Entrepreneurship Contest was held in Yiwu. It was organized by China i-entrepreneurship and Zhejiang Merchants, and hosted by Lugang Town.

    The contest had been collecting excellent projects for three months. After several rounds of qualification review and examination of expertise, eight finalists were selected to compete for the top four by a thirteen-minute presentation and Q&A.   

  In general, the contest has three models of entrepreneurship: hybrid model (operating online and offline businesses), platform-based model (providing individuals or companies with business platforms), and data-based model (offering technical support).

   Lemonsay, an app for food and snacks, is a typical hybrid model. It has constructed a brand new e-commerce system by the integration of online and offline business, centered on a fashionable and free lifestyle.

  Similar to Lemonsay is another app called Garden Life. It is a leading app on gardening with the purpose of “making your life greener and healthier.” Online it has gardening packages for sale; offline it has gardeners to offer face-to-face customer service.

  Mua Pizza is the only catering app among the eight projects. Based on the new low-cost chain model supported by the Internet, it has an independent IP (Internet Protocol) and a sound sharing systemdata sharing, system sharing, and management sharing—which props up its delivery service.

  Other finalists included Copyright Go for copyright protection; Meichuang Technique, specializing in database management and data analysis; Wise Oil, revolutionizing oil extraction with advanced robots; and UU Running, linking the last step of the online-to-offline business. All of them shared their wonderful stories with the entrepreneurs and investors present.

  Zhu Renhua, President of Zhejiang Merchants, delivered a speech at the contest. “Yiwu is a city without walls,” he said. “It is small commodities that make Yiwu a huge market in the world.”

  In the Internet age, Yiwu decided to boom its e-commerce industry by giving financial support and encouraging creative minds, so as to comprehensively broaden and promote the industry.

  According to the Yiwu Municipal Bureau of Commerce, in the first half of 2016, the e-commerce transactions in Yiwu totaled 72 billion RMB. The average volume of domestic express delivery has reached 21 million pieces daily, while the average cross-border express delivery volume has reached 600,000 pieces, covering 127 countries and regions.

  Invested in by International Lugang Group, Lugang Town plays a vital role in Yiwu’s strategy of “e-ecommerce makes a city.” It is expected that Lugang Town will be a part of a global e-ecommerce chain and a popular place for e-commerce investment and entrepreneurship. More importantly, it will drive economic transformation for Lugang District and Yiwu.    

  (By Zhang Zhichang – Jinhua Evening News, translated by Li Ziyi, edited by Kendra Fiddler)

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