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Innovation and technology, one of Hong Kong's six industries for priority development being nurtured by the Government, is the most effective tool for sustaining the competitiveness of Hong Kong's companies and economy, the Financial Secretary, Mr John C Tsang, said today (December 15).
Speaking at the Science Park Phase Three ground breaking ceremony in Sha Tin, Mr Tsang said, "This ground breaking ceremony marks another milestone not only for the Hong Kong Science and Technology Parks Corporation but also for the innovation and technology community in Hong Kong.
"The $4.9 billion Phase Three expansion project will increase research and development (R&D) space at the Park by some 50 per cent, or 100 000 square metres. It will house another 150 technology companies and provide over 4 000 jobs."
Phase Three will be completed in stages from the end of 2013 to 2016, and will have green technologies as its main theme.
The Science Park has evolved rapidly since it opened in 2002. It is now one of the key components of Hong Kong's technology infrastructure. This excellent facility is home to 350 companies that have a combined annual turnover of more than $100 billion. They also provide over 8 000 high-quality R&D jobs.
In addition to extending technology infrastructure, the Government also provides a comprehensive package of "software" support to innovation and technology development.
The Innovation and Technology Fund has been helping finance applied research projects by universities, R&D centres and companies since 1999. So far, the Fund has supported over 2 500 projects, providing total funding of over $6 billion.
The incubation programme of the Hong Kong Science and Technology Parks Corporation for technology has also proved successful and popular for technology start-ups. The programme provides subsidised office space and shared-use laboratories and equipment, as well as marketing, financial and technical assistance in the early critical days of these companies. To date, around 320 companies have benefited from the programme.
Mr Tsang said, "One of these companies won the bronze award in the prestigious Asian Innovation Awards organised by the Wall Street Journal Asia in November. It is the second consecutive year that our incubatees have been recognised at the Awards."
Mr Tsang said that the 10th anniversary year of the Hong Kong Science and Technology Parks Corporation has been an exciting and fruitful period. "In May, we witnessed the opening of Green 18 - a showcase of sustainable building design. And last month, the InnoCarnival and InnoAsia were successfully held here with a record number of visitors. Also, the Board of Directors of the Corporation won the Directors of the Year Award 2011 organised by the Hong Kong Institute of Directors," he said.
Other officiating guests at the ceremony included the Permanent Secretary for Commerce and Economic Development (Communications and Technology), Miss Elizabeth Tse; the Deputy Commissioner for Innovation and Technology, Mr Andrew Lai; the Chairman of the Hong Kong Science and Technology Parks Corporation, Mr Nicholas Brooke; and the Chief Executive Officer of the Hong Kong Science and Technology Parks Corporation, Mr E Anthony Tan.
Ends/Thursday, December 15, 2011
Issued at HKT 14:24
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