Hong Kong Innovates with HK$10 Billion Fund for I&T Market Growth

Hong Kong Launches HK$10 Billion I&T Fund

Innovation and technology are pivotal in Hong Kong's latest financial strategy. Chief Executive John Lee Ka-chiu announced the establishment of a HK$10 billion I&T Industry-Oriented Fund aimed at channeling private investment and enhancing the local I&T ecosystem.

The Fund's Structure and Goals

The fund will consist of five sub-funds integrated into sectors of strategic interest: life and health tech, AI and robotics, semiconductors and smart devices, digitalization, and sustainable development.

• Life and Health Tech
• Artificial Intelligence (AI) and Robotics
• Semiconductors and Smart Devices
• Digitalization
• Future and Sustainable Development

The government expects to draw HK$100 billion in private investment over ten years, leveraging networks from recruited fund managers.

Collaboration and Expected Outcomes

With a funding ratio of 1:3 from government to private investment, the initiative is inspired by models from Mainland China, Singapore, and Switzerland. Lawmaker Duncan Chiu advocates that professional fund managers will diversify investment opportunities.

Moreover, HK$1.5 billion will be jointly allocated to startup investments, mimicking the successful approach of the HK$2 billion Innovation and Technology Venture Fund launched in 2017.

Future-Focused Research and Development

In tandem, the city will engage in R&D projects including participation in the Chang’e-8 lunar mission, intending to develop a multifunctional robotic rover for lunar exploration.

The government is also investing HK$1 billion into the BUD Fund, promoting branding and market expansion for small and medium-sized enterprises.