Abundant intellectual resources and established innovation and entrepreneurial carriers

There are eight institutions of higher learning in or near the development zone, such as Yantai University, Shandong Institute of Commerce and Technology, and China Agricultural University (Yantai). The zone is also home to 17 scientific research institutes above the provincial level, including the Yantai Institute of Coastal Zone Research Chinese Academy of Science, No 513 Institute of China Aerospace Science and Technology Corporation, Institute of Computing Technology of Chinese Academy of Sciences (Yantai), and Advanced Manufacture Technology Center of China Academy of Machinery Science & Technology. The R&D strengths in biotechnology and medicine, advanced manufacturing, new materials and marine technology supply enterprises with talent and intellectual support. An improved innovation and entrepreneurial service system comes into being, comprising incubator, service platform for technological innovation, scientific and technological intermediaries, as well as investment and financing institutions. With a planned total area of 500,000 square meters, many comprehensive incubators like the Pioneer Building in the scientific and technological CBD; China-Russia Science and Technology Park; and specialized incubators in biotechnology and medicine, software and IT, and marine engineering are under construction. By 2015, the incubators and accelerators of the development zone are expected to cover a total area of more than 1 million square meters. The new incubators are built, managed and run by strictly following the national standards. The zone is aiming to build more than three national business incubators within five years.

Superior service environment and prominent policy advantages

The Yantai municipal government adheres to the international conventions and market economy development requirements, and has established the management and service system and the operational mechanism for the high-tech development zone. Supporting policies and governmental services are provided to create a beneficial innovation and entrepreneurial environment for new and high-tech enterprises. The management commission of the high-tech development zone fully implements performance accountability, service commitment system to optimize the development environment. It also launched systems to complete procedures on time and a default approval system for overtime procedures, providing local enterprises with people-oriented, specialized and one-stop service and efficiency. The new and high-tech development zone studies and formulates a series of preferential policies to encourage enterprises to make independent innovation, support the development of start-up companies, and speed up growth of high-end manufacturing and modern service industry. The policy system to support innovation and entrepreneurship is also undergoing continued improvement. The development zone unveils Suggestions on Accelerating the Development of “Special Zone for Talents” and Measures for the Implementation of the “Blue Ocean Talent Scheme” to introduce high-end talents. A special fund of 100 million yuan for the development of “Special Zone for Talents” and a fund of 100 million yuan to support innovations have been established. A package of preferential policies are adopted to provide innovative and entrepreneurial talent working in the development zone with startup capital, business premises, bank loans with discounted interest, research grants, living allowance and patent subsidies. As a result, a large number of high-end talents in China and abroad have chosen to pursue their development in the Yantai new and high-tech development zone.

Considerable strategic opportunities and enormous development potential

Yantai New and High-Tech Development Zone is bound to play a significant role in the development of the Blue Zone, thanks to its superior location, solid industrial foundation, ample innovation, entrepreneurial carriers and unique channels for international cooperation in science and technology. Yantai mobilizes the entire city to contribute to the Eastern Ocean New Economic Zone development. Yantai High-Tech Industrial Development Zone is situated in the center of the new economic zone. . The zone will assume special responsibilities and significant missions to give impetus to the development of the new eastern zone.

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