Government aims to launch HK$10 Billion IT industry fund by April 2026

The Hong Kong government is set to disburse a HK$10 billion IT Industry-Oriented Fund in April 2026, as Secretary for Innovation, Technology and Industry Sun Dong announced the formation of a task force aimed at developing the innovative technology sector in the Special Administrative Region (SAR).

In his Policy Address last October, Chief Executive John Lee Ka-chiu outlined plans for a medium to long-term development strategy for new industrialization in Hong Kong. 

This initiative includes creating a cooperative platform, providing financing opportunities, and fostering collaborations between local institutions and newly listed companies.

In a recent media interview, Sun said that the government has tasked a specialized group with appointing a consultancy firm to assess the current landscape, opportunities, and challenges presented in the Hong Kong Innovation and Technology Development Blueprint published in 2022.

"The SAR government needs to equip ourselves with a clear and comprehensive understanding of the current situation," he said.

The task force will also evaluate Hong Kong's competitive advantages over neighboring regions while determining strategies for developing new industries. 

Also, as mentioned in last year’s policy address, the government plans to establish the HK$10 billion Innovation and Technology Industry-Oriented Fund, designed as a fund-of-funds to attract market capital for investment in emerging and strategically important sectors such as life sciences, artificial intelligence, robotics, and semiconductors.

Sun said that about 130 local and international companies participated in a recent briefing session. 

The government aims to refine the proposals submitted by the IT sector and seek approval from the Legislative Council, with hopes of initiating fund disbursement as early as April 2026.

Also, he indicated that the government is actively working to enhance the city’s cyber security, and plans to invite mainland cyber security firms and talent to establish a presence in Hong Kong.

(Eunice Lam)