Shandong FTZ sets up incubator in Shanghai
The free trade pilot zone of east China’s Shandong Province set up its first domestic offshore incubation center in Shanghai’s Yangpu District on Thursday.
The center set up by the Yantai area of China (Shandong) Pilot Free Trade Zone was unveiled at the Bay Valley in Yangpu’s Xinjiangwancheng Community. It will offer services such as project incubation, talent gathering and technological transfers.
The first phase of the project can incubate 20 startup teams. The first batch of six projects in new-energy saving systems, distributed photovoltaic systems and advanced illumination moved to the center in Yangpu after the launch ceremony.
It is the first offshore incubation platform established by the Shandong free trade zone in China. Previous cross-border incubators have been set up with Canada, South Korea and Russia, said Yao Guanglei, director of the Yantai Development Zone’s economic development and scientific innovation bureau.
In cooperation with Fudan Zhangjiang Institute, the center will mainly focus on biomedicine, new materials and intelligent manufacturing. The center will incubate and introduce suitable startup projects and high-end professionals to develop in Yantai.
“The center aims to take advantage of the overflow effect of Shanghai’s innovation sectors and cooperate with universities in Shanghai and neighboring Zhejiang and Jiangsu provinces,” Yao said.