Nearly 100 academicians - specializing in information technology, biopharmaceuticals, new energy and materials, and advanced equipment manufacturing - attended an international academician forum in Qingdao, Shandong province from Aug 16 to 18.

It was the second time the port city and regional economic and technological hub in East China has hosted the annual event to promote exchanges, connection and cooperation among academicians, entrepreneurs, officials and experts.

Two years ago, the city government founded a long-term platform - the Qingdao International Academician Park in Licang district, in order to accommodate academicians who agree to work for a certain period of time each year with local partners in Qingdao, so as to maximize the effects of the forum.

The park boasts a fund of 10 billion yuan ($1.46 billion) to support the academicians' research, work and projects. It promotes the converging of talent, institutes, facilities, funding, projects and other factors - necessary for innovation and the cultivation of industrial chains and clusters, worth of tens of billions of dollars, according to the Qingdao government.

Academicians, who work at least three months a year in the park and engage in key projects recognized by the Qingdao government are eligible to apply for a maximum of 100 million yuan in funding as well as a maximum of 12 million yuan in living allowance during the period of their contract.

To accelerate the industrialization of the academicians' projects, Licang district has assigned its officials to help the academicians with the implementation of their projects and link up with partner enterprises.

Located at the park are work stations, institutes, labs and all necessary facilities for work, research and living.

So far, 108 academicians have signed cooperation contracts with the park, of whom 81 are from overseas.

As of the end of July, 16 projects initiated by the academicians have been launched, among which eight have generated profits.

Following the example of Licang, places elsewhere in the country are following suit and attracting overseas professionals.

The success of the park stems from Qingdao's foresight and forthright approach, officials said, adding it is the first city in China to directly attract foreign academicians in large scale to engage in local partnerships.

According to the Qingdao government, it believes top-notch scientists and engineers need support to transform their visions into realities, so the park is a win-win mechanism for both its academicians and Qingdao.

The State Council, China's Cabinet, has included the park in a provincial plan for industrial upgrading that it approved to expand its effects in Qingdao to the whole province.

Wang Xijing, Party chief of Licang district of Qingdao, said: "What the park does is to bring about a kind of chain reaction of ideas within industries, through accurate and long-term input.

"The unswerving support of the higher authorities has further consolidated our belief in not only the project, but also the future of innovation-driven growth," Wang said.