Jointly sponsored by the local news portal enorth.com.cn, Tianjin Global Growth Enterprise Association, and the Tianjin Science and Technology Exchange Center, an event named "little giants of enterprises come to Davos" was officially launched at Tianjin on Wednesday.

As an indispensable part of the preliminary practice of the Tianjin Summer Davos Forum 2014, the event is expected to boost local small and medium-sized technology-based enterprises. Organizations signing up for the event should meet the following requirements: an annual sales volume of over three hundred million yuan ($48 million), strong core competitiveness, and a consistent pursuit of social responsibility.

The event is open for applications from Wednesday, and 20 local technical companies will be shortlisted for the second round of the competition in early August with reference to experts’ opinions and online votes. Only five of the 20 candidates will be qualified to attend the Summer Davos Forum in September.

Till now, over 57,800 small and medium-sized technology-based enterprises and 2,722 "little giants" have been fostered in Tianjin, thanks to the support of local government. Their emergence has further helped optimize the city’s industrial structure, boosting local technological innovation and employment in the long run.