04 May 2015
Hong Kong is fostering a new generation of high-tech businesses through various support services.
As one of the world's leading financial centres and a choice location for regional headquarters of multinationals, Hong Kong is now focusing on nurturing a growing technology sector.
The success of countries such as Finland and Israel suggests that small economies can create innovation hubs through government partnerships with universities, industry and investors.
In a speech to the Asian Innovation Summit last December, Hong Kong Chief Executive CY Leung outlined how the city could become a "super-connector" for technology and innovation in the Asia-Pacific region.
The government is working with the Hong Kong Science and Technology Parks Corporation (HKSTP) to build technology clusters in several key sectors, notably biotech, IT, green technology and precision engineering.
According to Mr Leung, government research funding, which has more than doubled over the last decade, now totals HK$1.9 billion. In his January policy address, Mr Leung announced plans for another HK$5 billion for its Innovation Technology Fund. The government is also offering as much as HK$10 million per project to encourage corporate R&D, as well as another HK$24 million to back university start-ups.
Read the complete article in Hong Kong means Business.