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Moving towards high technology has now become the dominant trend, Acting Commissioner for Innovation and Technology, Mr Andrew Lai said today (November 23).
Speaking at the Electrical Appliances Week 2009 opening ceremony and luncheon and award presentation ceremony for the 11th Hong Kong Household Appliances Design and Innovation Competition 2009, Mr Lai said, "Undaunted about innovation, Hong Kong people have overcome many difficulties and broken new ground with their flexibility and can-do spirit.
"Like this design competition, innovation can bring in new opportunities for even an ordinary electrical appliance."
He said that the competition had given full play to many talented people and lots of winning designs had been turned into products, making significant contributions to the development of industries. Likewise, winning entries this year would bring new impetus to the electrical manufacturing sector.
Mr Lai said innovation and technology was among the six industries identified by the Task Force on Economic Challenges. In addition, the Chief Executive in his Policy Address had announced an "R&D Cash Rebate Scheme" to encourage enterprises to strengthen their research and development (R&D) work as well as their co-operation with research institutions.
Firms conducting applied R&D projects with the support of the Innovation and Technology Fund, or in partnership with local designated research institutions, including universities, R&D centres and the Hong Kong Productivity Council, will enjoy a cash rebate equivalent to 10% of their investment. The Government has allocated $200 million for the implementation of the project next April, subject to approval by the Legislative Council.
Mr Lai said that as the sphere of R&D had no borders, exchanges and co-operation between the academic sector and industries could increase the chances of success in commercialising R&D results, boost business opportunities for manufacturers and contribute to the advancement of the community.
Ends/Monday, November 23, 2009
Issued at HKT 16:48
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