A decade ago, Peter Hrapko, a former Slovak transport ministry official, was drawn to China's vast multimodal transport market during a visit related to the "Belt and Road" initiative. Today, he is a tech entrepreneur based in Shanghai, carrying his green multimodal transport solutions to build his venture.

Peter's team recently received an award at the finals of the "Startup in Shanghai" International Innovation and Entrepreneurship Competition for its horizontal intermodal transshipment system. The technology replaces traditional vertical container handling with a horizontal transfer method, which can reduce fixed costs by 49 percent, operational costs by 15 percent, and increase transfer efficiency fourfold.

The award offers more than recognition. It comes with tangible financial support. If the team registers a company in Shanghai and secures 5 million yuan ($718,640) in angel funding within two years, it will receive 600,000 yuan in funding support from the Shanghai-based technology-driven small and medium-sized enterprises innovation fund.

Peter is among the first international entrepreneurs to qualify for funding from the city's innovation fund for SMEs. He said Shanghai's comprehensive startup support played a decisive role in advancing the project. At the industry matchmaking session of the semi-finals, Peter received invitations from several Shanghai districts. After the contest, the municipal entrepreneurship center helped connect him with relevant district departments, logistics parks, and potential clients, allowing him to finalize his plans in Baoshan.

Peter is now in talks with several Chinese logistics firms for pilot cooperation. Although the team has a prototype in Europe, he plans to use the raised funds to develop a system better tailored for the Chinese market.

The team is not the only one to benefit. A batch of projects, including an AR cross-border trade platform from Zimbabwe and a smart pain management wristband from France, have also landed in Shanghai through the competition.

Shanghai's innovation ecosystem is drawing a growing number of hard-tech entrepreneurs from diverse countries and sectors, many of whom choose the city as their first destination for technology deployment. This trend further reinforces Shanghai's position as a preferred hub for global tech startups.

The "Startup in Shanghai" competition is a vivid case for the city's technological appeal. For the first time in its 13-year history, the competition opened a dedicated track for overseas teams. This edition attracted 71 teams from 21 countries, including the United States, the Netherlands, France, and Zimbabwe, with eight teams receiving third prizes and excellence awards. Winning teams are eligible for funding ranging from 200,000 to 1 million yuan, depending on the award level.

Under the competition rules, all overseas entrants are grouped, and even if they have registered companies in their home countries, as long as they are willing to start their businesses in Shanghai, they are treated as local startups with equal funding opportunities.

For overseas teams without a local legal entity, the funding policy is flexible, offering a two-year redemption gap. During the period, as long as they complete company registration and secure financing, they can receive the corresponding government support. Eligible teams can also apply for science and technology innovation vouchers to pay for professional services such as business incubation, testing and inspection, fintech, and intellectual property.

Beyond funding, Shanghai offers support across a wide range of areas, including policy guidance, taxation, regulatory services, and talent programs. Throughout the competition, events like "Jing'an Night" and "Lin-gang Workshop" are held to connect overseas projects with investors, high-quality incubators, and application-scene companies. The city also provides one-stop navigation in innovation support, talent recruitment, and R&D subsidies.

Dutch entrepreneur Mert Orhan Astam, co-founder and CEO of HaptonTech, offers another example of how the city supports overseas innovators. During his PhD study, he found that many of the precursor materials he relied on were sourced from China, while Shanghai is home to a concentration of leading humanoid robot companies that could become potential customers.

His team plans to register a company, set up a lab, and build a factory in Shanghai, as they appreciate the comprehensive support for early-stage hard-tech projects from local investors.

All winning overseas teams are now placed on a continuous tracking service list. This year, as these teams gradually meet the funding conditions, the first batch of innovation funds will be disbursed accordingly.

Source: Shanghai Observer