Technology market in Hong Kong
The development of the technology market in Hong Kong is becoming important for economic growth. Hong Kong’s Innovation and Technology Bureau promote Innovation and Technology development to create a vibrant ecosystem with excellent software and hardware support for the key players to collaborate on research, development and innovation activities.
Research & Development and innovation activities for the technology market in Hong Kong
Companies in the technology market in Hong Kong sector are active, and then there is a special place to carry out a research project and all innovation activities. Hong Kong Science and Technology Parks (HKSTP) spread out over 22 hectares located in Pak Shek Kok, it is an infrastructure administered by the Hong Kong Science and Technology Parks Corporation (HKSTPC). HKSTPC is a non-profit statutory body set up by the Hong Kong Government and HKSTP enables science and technology companies to nurture ideas, innovate and grow, supported by R&D facilities. There are more than 600 technology players, which are involved in the following sectors:
- Green Technology can be grouped into 6 sub-sector
– Water conservation and pollution control
– Air pollution controlWaste management
– Waste management
– Noise control and mitigation
– Energy saving
– Environmental consulting services
- IT and Telecommunication
- Precision engineering (nanotechnology)
And the development of 3 over-arching crosses disciplinary platforms
- Smart city
- Healthy Ageing
In May 2016, the total number of companies in the Park is 612, with 432 local (70%) and 180 overseas (30%) technology companies, with an estimated annual turnover of around HK$224 billion. There are 12967 persons who working in the Park and over 9000 persons are involved in R&D related activities.
The Innovation and Technology Commission administers the Innovation and Technology Fund to encourage the development of innovative ideas and technology businesses in Hong Kong.
In 2016, as follow the Innovation and Technology Fund: Distribution of Approved Projects among Different Technology Areas
|Technology area||Number of project||Total $million|
Mainland and Hong Kong Innovative Collaboration
The collaboration between Mainland China and Hong Kong in the Technology & Innovation field is rapidly blooming. On March 31st, 2016, HKSTP have signed a strategic collaboration agreement with the Beijing Institute of Collaborative Innovation (BICI) and working closely with local talents, enterprises, universities and research institutions to enhance innovation and technological development. The scope of collaboration
BICI and HKSTP will establish an investment fund- BICI Innovation Hong Kong Fund- for supporting local start-ups, as well as attracting foreign investors to incubate and develop high-tech industries in Hong Kong.
- Robotics Center
As a joint effort of BICI, HK research institutions and technological enterprises, a robotics center will be established at Hong Kong Science Park. The robotics center will focus on developing artificial intelligence, 3-D recognition technologies and their applications in industrial, logistics, service and medical sectors through utilizing HKSTP’s extensive network and robotics platform.
- Advancement of HK Technological Enterprises
Providing comprehensive support in factory establishment, investment and marketing in Mainland China through utilizing BICI‘s resources, accelerating the development of Hong Kong technological enterprises.
- Hong Kong Youth Innovation And Entrepreneurship
Offer internship opportunities for university students of Hong Kong; establishing the “Leader of the Enterprise Program” with the collaboration of 6HK universities, arrange Beijing-Hong Kong Innovative Start-ups Competition, Implement ‘Collective Innovation and Entrepreneurship’ Program in Hong Kong (BICI will provide mature research projects and recruit young Hong Kong entrepreneurs to commercialize them through launching jointly-owned start-ups), Promote youth awareness and participation in innovation and start-up activities.
The goal is to transform Hong Kong into a regional hub for innovation and technology development, support the best talent, ideas in the city and create a bright future us all. A hub that will grow the city’s economy, expand opportunities across a multitude of industries and raise Hong Kong’s status powerhouse to a new level.
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