Ten local entrepreneurs will go head-to-head at today’s Global Innovation Awards semifinal in Tel Aviv, aiming to come out on top of the global startup competition that is taking place in parallel in China, the US, and Europe.

The 2nd Global Innovation Awards contest is offering prizes totaling $1.5 million, potential investment from a special $25 million fund established by Shengjing Group, significant exposure in the global market and engagement with top leaders and investors from the international tech industry.

The Israeli segment of the contest is led by Shengjing 360 and Jerusalem Venture Partners (JVP), together with EMC, Microsoft Ventures, Poalim Hi-Tech, E&Y Israel, HFN, Nautilus by AOL and PR Newswire.

Local high-tech leaders will choose three startups to represent Israel in the Global Finals in Beijing this August.

DiaCardio, an Israeli startup changing the way cardiograms (ultrasound exams of the heart) are decoded, won the first prize of the Global Innovation Awards 2015.

Israeli startups Wayerz and Securithings also won prizes at last year’s competition.