This institute serves as an important part of “School of Marine Science and Technology-Marine X Interdisciplinary Research Center-Marine Engineering Research Institute” development model, providing support for realizing the strategy of marine power. Qingdao provides a scientific research room in 3.1 square meters, 80 million RMB for decoration, 5 million RMB per year for operation as well as the talents and equipment, etc. At present, the decoration work of this institute has been launched, and 12 research laboratories including Marine Engineering Equipment Manufacturing, Marine Renewable Energy, Marine Monitoring, Marine Communications as well as research teams will enter this institute. Within this year, 300 talents will be recruited for the marine engineering construction. The government subsidy and social capital will jointly set up “Science and Technology Enterprise Incubation Fund’’ to support the selected excellent projects, which then will be hatched into enterprises step by step. The enterprises in turn support the government in the form of taxes and the social capital in the form of equity, thus forming a virtuous circle.
