Policy Address

Support for Innovation and Technology Start-ups

80.          In recent years, there have been breakthroughs in the support for start-ups.  Apart from the Science Park and Cyberport, which support start-ups in research and development and assist them to open up markets, the number of incubation and co-work locations funded and operated by the business sector has increased from just a few six years ago to over 40 now.  This shows that investors attach greater importance to the development of innovation and technology.  There are currently around 1 600 start-ups occupying these incubation and co-work locations and most are innovation and technology start-ups.  According to an international study last year, the growth of Hong Kong’s start-up ecosystem ranked fifth globally. 

81.         Through the Science Park and Cyberport, the Government will continue to give full support to start-ups at different stages of development.  The Cyberport will increase the incubation scheme quotas and establish new clusters for areas such as financial technology and e-commerce to meet the latest development of the industry and the market.  It will increase the provision of facilities such as Smart-Space small offices and workstations by 50% within next year and explore ways to better utilise its facilities and spaces, so as to cater for the development needs of the ICT industry.

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