The finals of the Global Internet Competition of "Straight to Wuzhen" is set to be held in Wuzhen, the permanent site of the World Internet Conference (WIC) in Jiaxing, on Nov 24. [Photo/cnjxol.com]

The finals of the Global Internet Competition of "Straight to Wuzhen" will be held in Wuzhen, the permanent site for the World Internet Conference (WIC) in Jiaxing, East China's Zhejiang province, on Nov 24, local media reported.

Ten projects have been selected out of the 813 entries from 15 countries, including the United States, Germany and Israel, to compete in the final.

Among the finalists, six have received Series B or above funding of more than 100 million yuan ($15.27 million), five have started the Initial Public Offering process and are expected to go public next year, while at least three are potential unicorns - privately held startups valued at $1 billion or more.

The judging panel for the final will comprise a slew of industry experts, including academicians Pan Yunhe and Wu Jianping, partners of Softbank China Venture Capital, IDG and Zheshang Venture Capital, and managers from Alibaba, Tencent, and Meituan.

The competition will be livestreamed for audiences who are unable to attend the event because of the pandemic.

Sponsored by the Zhejiang Provincial Government, the Global Internet Competition of "Straight to Wuzhen" is a significant part of the WIC, which is set to be held from Nov 22 to 24 this year.

In addition to the competition, WIC will also include an Internet Development Forum, the Light of Internet Expo, and an event to showcase world-leading internet scientific and technological achievements.