The submission period has closed for the Global 2018 Sci Innovation Competition, setting a new record for the number of submissions to the "Global Olympics of Innovation." 2018 saw a 17% increase in overall submissions to the competition, with a total number of 1,460 global projects and 208 submissions to the Toronto Division alone.
The Toronto Division came in second in the number of submissions, ranking slightly behind Silicon Valley's 211 submissions, and beating out London, Sydney, Tel Aviv, Tokyo, Stockholm, Berlin and Boston.
The brainchild of the Municipality of Shenzhen, the Sci Innovation Competition is a collaboration between local governments across the globe. The Toronto Division is being sponsored by the Canada Confederation of Shenzhen Associations (CCSA) and the Sino-Canada International Innovation Centre (Sci Innovation Centre), through a partnership with the MaRS Discovery District. The Sci Innovation Competition is an opportunity for Toronto's tech community to display its talent and support home-grown entrepreneurs as they compete on the international stage.
As previously written on this blog, the competition is offering prizes totalling C$2.09 million, and a venture capital pool of C$4 billion has been established by 34 investment institutions to support the ongoing projects of the competition. In Canada specifically, 2018 has seen more professional organizations become involved in supporting the competition, including the University of Toronto, the University of Waterloo and Western University. The increase in participation by both entrepreneurs and professional partners is an indication that the vitality and strength of Toronto's tech sector is continuing to grow.
Judges will now review the 208 submissions from entrepreneurs across Canada, and 20 finalists will be selected to compete in the final panel pitch, which will be held on March 24, 2018 at the MaRS Discovery District. Ten of these finalists will go on to compete at the international competition in Shenzhen next month.
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