Shanghai takes second in innovation competition
Cheng Ziqiang, CEO of Shanghai's Zion Pharma, receives the prize.
Local startup Zion Pharma has won second prize in the country’s leading innovation competition.
Zion Pharma, set up last year in Shanghai free trade zone, was one of 23 local companies in the final of the biomedicine category of the 8th China Innovation and Entrepreneurship Competition. Five made it into the top 20, with Zion Pharma taking second prize on Friday in Guangzhou, capital of Guangdong Province.
The company conducts research on small molecule drugs targeting breast cancer. It has submitted two patent applications via the Patent Cooperation Treaty.
China Innovation and Entrepreneurship Competition is the largest platform for domestic innovators call attention to their work and to seek support.
Prizes in six categories — biomedicine, electronic information, advanced manufacturing, new materials, Internet and new green energy — will be awarded in competitions through November 28 in other cities.
This year, 6,600 Shanghai companies took part in the competition, nearly 800 more than last year, and nearly 22 percent of the total.
