An innovation contest has taken place parallel to the Global Innovation and Entrepreneurship Fair in Chengdu in south west China's Sichuan Province. Provincial government officials, leading scientists and prominent entrepreneurs attended the event.

CCTV caught up with Steve Hoffman, who started Founder Space, one of the leading incubators in Silicon Valley. He now spends half of his time in China educating young Chinese starting their own businesses. And here’s his advice for the country's young entrepreneurs.