HK to launch $10 billion innovation fund for future industries

The new HK$10 billion Innovation and Technology Industry-Oriented Fund will soon be launched to channel more investment into emerging and strategically important future industries, Chief Executive John Lee Ka-chiu said.

In a video speech delivered at the opening ceremony of the Tech Applied Summit on Monday, Lee said Hong Kong's commitment to innovation and transformation, highlighting the government's continuous implementation of forward-looking policies to drive the city's innovative development.

Lee noted that the New Industrialization Acceleration Scheme is supporting industries such as life and health technology and advanced manufacturing in building cutting-edge smart production facilities.

“All these initiatives are making Hong Kong a launchpad for start-ups, researchers, and investors to turn bold ideas into transformative realities,” Lee said.

He added that the Northern Metropolis will serve as a "growth engine and another game changer" in the innovation and technology sector, while the Hong Kong-Shenzhen Innovation and Technology Park in the Loop will create opportunities for cross-boundary collaboration.

Secretary for Innovation, Technology and Industry Sun Dong reiterated that innovation and technology are not "merely buzzwords," but rather the lifeblood of Hong Kong's future. 

He said the government's investments in talent, infrastructure, and partnerships to secure the city’s position as a leading innovation powerhouse in the region.

Sun also said the crucial role played by the Hong Kong Applied Science and Technology Research Institute in fostering collaboration between Hong Kong and mainland China.

(Marcus Lum)