Local startups receive 'most promising' awards

EY has awarded 25 local startups "the Most Promising Enterprise" in an award ceremony in Shanghai 
Ti Gong

EY has awarded 25 start-ups "the Most promising Enterprises" to celebrate entrepreneurial achievements and to encourage stakeholders to think beyond their own benefit.

EY hopes to join hands with more "early-stage" companies to fulfill their expansion in both local and overseas markets, Terence Ho, strategic growth markets and IPO leader at EY China said. 

The winners were a testament to the strong growth potential and innovative spirits of local companies, he said.

The nominees have been assessed with regard to their sustainability, competitive advantage, and level of internationalization.

The award, which has a history of eight years, was previously given to companies such as Mobike, Yiguo.com and Hupu.com.

This year the award winners include Jiangsu Shinsson Co, Data Grand Tech Co Geo TMT Technology Co and Shanghai Henlius Biotech Inc. 

China's middle market companies, those with annual revenue of between US$1 million and US$3 billion, are expected to lead their global peers in growth, initial public offerings and the adoption of artificial intelligence, underpinned by the Belt and Road Initiative and China's regulatory policies, an earlier EY study showed. 

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