Hong Kong government hopes to foster collaboration between new listed companies and local universities

The establishment of the Hong Kong New Industrialisation Development Alliance is expected to boost collaboration among innovation and technology stakeholders by providing funding and fostering partnerships between newly listed companies and local universities, said Sun Dong, secretary of the Innovation, Technology and Industry Bureau 

Sun stated that a HK$10 billion Innovation and Technology Industry-Oriented Fund is currently under active preparation and is expected to launch next year. The fund is expected to create a fund of funds to attract more market capital to invest in specific emerging and strategically important future industries.

He also noted that the Budget earmarks HK$100 million for a two-year pilot scheme to support local advanced manufacturing through technological upgrades.

Gordon Yang