The Department of Science and Technology of Fujian province recently identified 12 institutions as provincial level technology transformation institutions in 2019, of which three institutions in Quanzhou were selected. 

The three institutions are namely the Technology Transformation Center of Quanzhou Normal University, Zhongyan Intellectual Property Management Co Ltd, and Nan'an Equipment Manufacturing Association. 

Applicants for the title were required to be organizations mainly engaged in technology transfer business with certain service performance, good operating conditions, and open service model. 

Universities and research institutes were required to have the ability to carry out technology transformation projects, and have already formulated management, operation and distribution systems for technology transformation. 

And the technology transformation institutions of enterprise shall have a business model that is suitable for the development requirements of the institution. The technical income shall account for more than 50 percent of the total income of the enterprises. 

Selected institutions will receive a variety of policy and financial support from the provincial government. The annual subsidy for each institution will be up to 500,000 yuan ($71,584). 

This year, the Fujian Hsinchu Science and Technology Consulting Co Ltd, a provincial-level technology transformation institution in Quanzhou, received a grant of 349,400 yuan from the provincial government.  

Quanzhou has vigorously cultivated the science and technology service industry and has cultivated a number of specialized service agencies and talent teams in recent years. 

There are currently 14 science and technology service institutions at all levels in the coastal city, including one national technology transformation talent training base, one national university technology transformation demonstration institution, and one national technology transformation institution 

In 2019, the city has identified 115 registered technology contracts, with a total  turnover of 120 million yuan, a year-on-year increase of 35.71 percent.