New scheme to accelerate bedding in of tech start-ups

RTHK：Video News

Secretary for Innovation, Technology and Industry Sun Dong said a new accelerator initiative is intended to help start-ups grow by providing funding and support, thereby promoting the development of Hong Kong as an international innovation and technology centre. Speaking on RTHK's Overview Policy programme, Sun said the I&T Accelerator Pilot Scheme aims to attract renowned domestic and international start-up service providers to establish a strong base in Hong Kong. "Many companies entering Hong Kong face an unfamiliar operating environment and high costs," he said. "The accelerator platform provides services and shares resources to reduce their costs in Hong Kong while offering more support. "We think this is a great model that is worth exploring and hope to implement this plan quickly." Sun also said the government is committed to attracting global talent by creating a conducive environment for innovation and technology with a focus on research and development (R&D). "Last year, our statistics showed that the number of people of talent engaged in scientific research in Hong Kong had reached 55,000," he said. "According to the blueprint, we will reach 100,000 in the future. "I believe that as more science and technology enterprises establish themselves in Hong Kong and large companies set up R&D centres here, our demand for talent will significantly grow." Sun said Huawei's R&D centre in Hong Kong has grown from about 300 to 400 employees two or three years ago to nearly 700 last year and that it had a target of reaching 1,000 this year and expanding to several thousand in the coming years. Likewise, he said battery giant CATL received official approval for its R&D centre at Science Park last year. "There are many other large companies," Sun said. "I believe that with the completion of these R&D centres, the demand for talents will increase, and the entire Hong Kong ecosystem will get better and better. "As long as there is an opportunity, I believe that people of talent will come."