Two startup bases in Xiamen, East China's Fujian province were recently recognized as national technology company incubators by the Ministry of Science and Technology.
Founded in 2014, Grey Tile Startup Base houses 65 startups focusing on internet, intelligent hardware, artificial intelligence and big data.
As of now, the base has invested in 27 startup projects and given rise to 26 high-tech companies, two of which have been listed on the National Equities Exchange and Quotations, a Chinese over-the-counter system for trading the shares of a public limited company.
The Cross-Straits Drone and Robot Incubation Base, founded in 2015, houses 56 startups. To date, the base has incubated more than 20 companies, eight of which are identified as national high-tech companies.
Xiamen is now home to 34 tech company incubators, seven of which are national level, 224 maker spaces, 2,142 startups and 4,686 venture teams.
Since 2015, tech companies in the city have been developing rapidly as the government has issued effective measures to facilitate business transactions and encourage technological innovation, including a "single window" system for the foreign trade and online technology trading markets, which were later replicated around China.
In 2019, Xiamen ranked eighth among demonstration cities in China for small and micro companies and received a reward of 45 million yuan ($6.54 million) from the Ministry of Finance.