The Department of Science & Technology of Shandong Province released the Administrative Measures of Shandong Province for Supporting and Fostering Technology Transfer Service Agencies on September 21, aiming to foster and develop technology transfer service agencies (service agencies), improve the technology transfer system, and promote the transformation of technological achievements.

The measures encourage localities to cooperate with universities and research institutes inside and outside Shandong in establishing service agencies in various forms to carry out technology transfer and transformation; encourage localities to introduce renowned service agencies from home and abroad to develop the technology market under the principles of marketization, specialization and internationalization; and encourage accredited provincial service agencies to carry out technology transfer and transformation. The Department of Science & Technology of Shandong Province will organize performance evaluation of provincial service agencies on an annual basis, and grant a maximum subsidy of 500,000 yuan to each agency rated outstanding in performance evaluation. All agencies rated outstanding in performance evaluation for two years in a row will be accredited as provincial technology transfer demonstration agencies.