Blog

Innovation and technology startups: new engine for Hong Kong’s economy

A gist of the blog:

Last week I visited the Hong Kong Science Park, the largest innovation and technology (I&T) community in Hong Kong. Over the years, more than 480 technology startups have graduated from various incubation programmes operated by the Hong Kong Science and Technology Parks Corporation (HKSTP), while another 260 startups are participating in these programmes right now. Science Park incubatees and startups have accumulatively registered more than 900 IPs and obtained investment of over $1,700 million. HKSTP launched in July 2015 the Corporate Venture Fund to co-invest in existing incubatees in Science Park and former participants of incubation programmes with angels and venture capitalists. As at end June this year, the Fund has approved a total of $35 million investment for six startups.

The Government will continue to promote the development I&T in Hong Kong and improve our I&T ecosystem, through policy support, infrastructure development, product adoption, fostering of an innovation culture, nurturing of talent and promoting private investment, with a view to providing more quality job opportunities for the younger generation.

July 23, 2017