The Hangzhou High-tech Zone (Binjiang district) launches a major audiovisual industry innovation and entrepreneurship competition. [Photo/tidenews.com.cm]

The Hangzhou High-tech Zone (Binjiang district) has announced the launch of a grand audiovisual (AV) industry innovation and entrepreneurship competition, offering a top prize of up to 5 million yuan ($694,000) to winners whose projects are implemented.

This contest is focused on three key areas in the AV industry — content innovation (covering film, animation, gaming, and other AV productions), technological innovation (encompassing AI, VR/AR, 5G, big data, and other core technological applications), and integration innovation (exploring trans-industry business models). It is open for submissions from around the globe, seeking exceptional projects and top-tier talent.

As the first national animation industry base named after a high-tech zone in China, the Hangzhou High-tech Zone National Animation Industry Base has consistently aimed to build a robust ecosystem for the animation industry and foster its growth. The generous reward policy is designed to seize opportunities in the emerging AV industry, nurture benchmark new IPs, and establish new advantages for future development.

In 2024, the value of the cultural industry in Binjiang reached 81 billion yuan, accounting for nearly 30 percent of the district's total GDP. It is home to leading enterprises such as Wasu Media, alongside national platforms like the China Cartoon and Animation Museum.

A distant look at the China Cartoon and Animation Museum. [Photo/tidenews.com.cn]