The Overseas Technology Transfer Demonstration Base in Qingdao, which debuted on Sept 25, is set to gather global innovative elements and serve industrial upgrading.

The project will facilitate connection between Qingdao and the rest of the world, as China’s first overseas technology transfer ecosystem, integrating incubation, technological services and industrial investment.

It is designed to be a platform for technology trading, scientific exchange, and research result management among other functions, serving international talents, technologies, and higher education and research facilities, with online and offline, all-weather, multilingual services.

The project will map out a global network of overseas technology transfer centers, with the first group of which being located in the UK, Germany and Israel. This network aims to amass overseas technological projects and research findings and link them directly to the industry and capital in Qingdao. It also helps domestic enterprises to expand their footprints on overseas markets.

To facilitate the localization and development of overseas projects, the city will accelerate the construction of the incubator, accelerator and the industrialization base for overseas technology.

The project will take up 14,000 square meters at the Laoshan district on the east coast of the city.