Precision medicine competition kicks off

An international innovation and entrepreneurship competition for "precision medicine" kicked off in Shanghai's Nanxiang Town today.

The annual competition is held by Shanghai Nanxiang Precision Medicine Industrial Park and other local partners.

Precision medicine refers to an approach to disease treatment and prevention that offers targeted solutions for different individuals or groups of people.

More than 100 companies have set up shops in the Nanxiang precision medicine park, which aims to forge an innovation hub of precision medicine in the Hongqiao area.

The competition has drawn more than 40 capital and investment organizations, and winners will have access to various funds of over 5 billion yuan (US$784 million) and receive further support to deliver their projects.

Interested parties can participate in the competition through the WeChat account of Shanghai Nanxiang Precision Medicine Industrial Park, "FudanPrecisionMed." The webpage is entirely in Chinese.

After a first round of projects, the second round of the competition will be held in Shanghai, Suzhou, Hangzhou, Beijing and Shenzhen between June and August, and 10 finalists will compete in Nanxiang in late September for prizes.

Jiading District, where Nanxiang Town is situated, is aiming for more than 100 billion yuan of output from its health-care industry by 2025.