Innovation may not be something that can be taught, but schools can encourage innovation through the creation of more communication opportunities, and even be generous enough to give young entrepreneurs their first "bucket of gold."

The 2021 FDSM "JOIN" Entrepreneurship Competition, an event aimed at bolstering innovation-driven start-ups, is doing just this.

The event organizer, the School of Management at Fudan University, has unveiled 100 teams selected from 150 domestic colleges and 40 from overseas that are in the semi-final of the competition.

They involve more than 400 entrepreneurs in areas like big data, artificial intelligence, high-end equipment, environmental protection, bio-medicine, information technology, new energy, education and health care.

More than 60 percent are related to innovation in science and technology, while the rest are innovative in business models and ideas.

"Innovation is an integral part of entrepreneurship," said Lu Xiongwen, dean of the school. "And we hope this annual event can boost communication among the best innovators and help them get closer to success."

The school is also generous with awards, which amount to 1 million yuan (US$157,203) in total, a record high in the competition's history.

The top winner can claim 300,000 yuan, and the new star of entrepreneurs can have the opportunity for the exemption of tuition fees of the MBA course at the school.