The 3rd China Returnee Entrepreneurship Contest was officially launched in Beijing on Wednesday.

The contest was organized by the Chinese Returned Overseas Scholars Entrepreneur Parks' Alliance under the guidance of several government agencies.

With the theme "Converge Returnee Talents, Boost Innovation and Entrepreneurship", the contest was first held in 2015, attracting a total of 543 participating teams.

More than 30 projects from the previous two contests have landed in Beijing, Tianjin, Shanghai, Nanjin, Changshu, Huzhou, Guangzhou and Lanzhou.

Featuring returnee entrepreneurship, the contest requires all participating teams to have at least one returnee, from either studying or working overseas.

Over 200 entrepreneurial parks for returnees nationwide provided support for the competition and more than 100 venture capital organizations were involved.

A special fund, initiated by the Chinese Returned Overseas Scholars Entrepreneur Parks' Alliance, will offer priority investment to the winner, as much as 50 million yuan.

The contest will be divided into three stages: the preliminary round, expert review round and final round. The winner will be awarded with certificates and opportunities to approach institutional investors.

Registration begins on April 12 and ends on July 5.