Policy Address

Increase Research Funding

78. The Government will launch a new round of Research Matching Grant Scheme totalling $1.5 billion to attract more organisations to support research endeavours of institutions.

Increase Investment for I&T Industries

79. We will increase investment and guide more market capital to invest in I&T industries, reflecting a revamped approach of Government in this. Relevant measures include:

  1. setting up a $10 billion I&T Industry-Oriented Fund – We will set up a fund-of-funds to channel more market capital to invest in specified emerging and future industries of strategic importance, including life and health technology, AI and robotics, semi-conductors and smart devices, advanced materials and new energy. The goal is to systematically build an I&T ecosystem;

  2. optimising the Innovation and Technology Venture Fund – We will redeploy $1.5 billion to set up funds jointly with the market, on a matching basis, investing in start-ups of strategic industries, to further enhance Hong Kong's start-up ecosystem; and

  3. maximising the impact of the HKIC as "patient capital" – The HKIC will continue to attract I&T enterprises to establish their presence and settle in Hong Kong by channelling and leveraging market capital.

Attract International Start-up Accelerators to Establish a Presence in Hong Kong

80. The Government will launch the I&T Accelerator Pilot Scheme with a funding allocation of $180 million at a one-to-two matching ratio between the Government and the institution, up to a subsidy ceiling of $30 million. The Scheme aims to attract professional start-up service providers with proven track records in and beyond Hong Kong to set up accelerator bases in Hong Kong, fostering the robust growth of start-ups.