QINGDAO will focus more on building technology business incubators in the next few years. By 2015, coverage of the business incubators will reach more than 10 million square meters. Among these, more than 65 percent will be incubators for the blue valley and west coast economic new zone, according to the city’s technology bureau.

The incubators will promote the industrialization of scientific achievements and support companies and entrepreneurs involved in high-tech. Since the city’s first incubator was built in the hi-tech area in 1993, there were 35 business incubators by the end of last year, including eight national incubators and four city-level incubators. The incubators cover 1.28 million square meters and more than 1,100 companies are being incubated.

According to the bureau, the incubators will focus on blue economy, high-end industries and new industries in areas such as new material, new information, new energy, advanced manufacturing and modern service industries. In 2015, more than 10,000 companies will be incubated, creating more than 200,000 jobs.

More preferential policies will be given to the incubators and special funds will be set up to help operation of the incubators and companies. Subsidies and low-interest loan will also be given to companies, particularly new small and medium-sized companies.

The city hopes the incubators can help gather top entrepreneurs and top companies to the city.

 (Wang Yuanyuan, Zhao Di)