Hong Kong to launch ‘I&T Accelerator Pilot Scheme’ to boost startup ecosystem

Hong Kong's Secretary for Innovation, Technology and Industry, Sun Dong, announced new initiatives to strengthen the city's innovation and technology sector, including a HK$1.5 billion boost to the Innovation and Technology Venture Fund (ITVF) and the upcoming launch of an "I&T Accelerator Pilot Scheme."

Speaking at City University's "HK Tech 300" innovation and technology expo, Sun revealed that the government will allocate HK$1.5 billion to establish co-investment funds with private venture capital firms, targeting startups in strategic industries through a matching mechanism.

Meanwhile, a new "I&T Accelerator Pilot Scheme" aims to attract experienced startup service providers from Hong Kong and abroad to establish accelerator bases in the city.

This initiative seeks to foster a thriving startup environment and enhance Hong Kong's overall I&T ecosystem, he said.

Sun emphasized the critical role of collaboration between the government, industry, academia, research institutions, and investors in advancing Hong Kong's innovation ambitions.

He said relevant stakeholders must continue working together to support young entrepreneurs by providing them with essential resources, mentorship, and opportunities to transform their ideas into impactful solutions.

These measures represent Hong Kong's latest efforts to solidify its position as an international innovation and technology hub, Sun added.