A Taicang enterprise took home third prize at the 2016 Jiangsu provincial innovation and entrepreneurship competition for small and medium-sized enterprises (SMEs), on Aug 2, Taicang Daily reported.

Suzhou West Rock Machine Technology Co (WRM-TECH), which specializes in manufacturing advanced friction welding machines, won the award for its efforts in innovative R&D.

Jointly sponsored by Jiangsu Economic and Information Technology Commission and the SME Bureau of Jiangsu Province, the competition aimed to strengthen the province through human resource and innovation-driven development by incentivizing local innovative SMEs.

Officials from the provincial SME Bureau said that the competition will help to create an innovative atmosphere and explore a batch of excellent entrepreneurship projects, which will drive the development of an innovation-oriented economy.