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Five companies based in Beijing Economic-Technological Development Area (E-town) won the Beijing Patent for Inventions Award on March 9, according to local media.

Among the five companies, BOE Technology Group won first prize. Up to March 2016, the tech company has applied for 23,063 patents with 13,137 of them being approved.

The award, initiated by the people's government of Beijing, aims to promote innovation and inventions citywide. It is hosted once every two years. Outstanding entrants will be granted 1 million yuan ($145,125). Entrants winning first, second and third prizes will get 200,000 yuan, 100,000 yuan and 50,000 yuan respectively.