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Following is the speech by the Financial Secretary, Mr John C Tsang, at the Croucher Foundation Award Presentation Ceremony today (April 14):
Professor (T W) Mak, distinguished guests, ladies and gentlemen,
Good afternoon.
I would like to thank, first of all, the Croucher Foundation for its continuing recognition of excellence in science, technology and medicine.
It is an honour for me to be here personally, to celebrate the Foundation, and the success of its latest awards recipients.
We are here, too, to acknowledge the work of this Foundation and the man behind it. Noel Croucher started his career here as a young postal clerk. The very same Mr Croucher would later help found the Hong Kong Stock Exchange, amassing a considerable fortune in his long, storybook life. But more than a man who knew how to make money, Mr Croucher was blessed with outsized compassion, and enviable foresight.
He established the Foundation that bears his name in 1979, the year before his death. A visionary to the end, Mr Croucher put his entire fortune into a trust to help further science, technology and medicine - in Hong Kong and around the world. And that was 36 years ago when most people, at least in this part of the world, did not recognise the connection between economy and service, or for that matter, technology. He clearly envisioned a future, and an economy, built on these foundations. In that, as in much else, he was right.
Hong Kong is the better for Mr Croucher's charity and his prescience. Indeed, more than 2 000 awards have been made by the Croucher Foundation over the past 36 years. Some HK$50 million in grants have been awarded, on average, each and every year since its inception.
Beyond the founder, we owe, as well, much gratitude to the Foundation trustees. For their ability to stay abreast of developments. For their flexibility in creating new opportunities within the remit established by Mr Croucher.
Two years ago, the Foundation added the Croucher Innovation Awards to its offerings. These give our rising stars in science the equivalent of manna from heaven - up to HK$5 million toward research expenses. The end result advances the expertise, and careers, of the award winners. Equally, it advances Hong Kong's research development. Four of our 10 recipients today are Croucher Innovation Award winners.
The Croucher Summer Course also got going in 2013. Promising postgraduate students and researchers just getting into their careers learn from international scientists while networking with peers. And it all takes place right here in Hong Kong.
So, yes, I am optimistic about our future in science, technology and medicine. That's thanks, in good part, to the Croucher Foundation. It's also due to the efforts of our local scientific research community.
In announcing the results of its Research Assessment Exercise last year, the University Grants Committee (UGC) noted that 12 per cent of the research submissions made by the eight UGC-funded institutions were judged to be of "world-leading" standard by international experts. In addition, 34 per cent attained the "international excellence" standard. That most certainly reflects the high quality of research being done right here in Hong Kong.
As for the Hong Kong Government, our priority is clear, our resolve unwavering. Our five Government-supported R&D Centres, put in place in 2006 when I was the Secretary for Commerce, Innovation and Technology, continue to drive and co-ordinate applied research and development in their respective areas, while promoting commercialisation.
And the Innovation and Technology Fund has supported more than 4 300 projects, providing total funding, to date, of about $9 billion.
In addition, we have launched the Technology Start-up Support Scheme for Universities, encouraging our post-secondary institutions to start technology businesses, to bring R&D results from the campus to the marketplace.
Hong Kong Science Park accommodates more than 500 technology companies, offering them quality support services. And, in my Budget Speech earlier this year, I mentioned that the Science Park would introduce a $50 million Corporate Venture Matching Fund. The Park will use it to invest in start-ups that are either in the Science Park or that have participated in its incubation programmes. If it is proven effective in encouraging the private sector to invest more in local start-ups, I am prepared to expand the scheme.
I have also announced the extension of the Science Park's Leading Enterprises Acceleration Programme. I believe this will help more companies consolidate their businesses and, in general, excel at what they do.
The Government is also replacing the Small Entrepreneur Research Assistance Programme with a new Enterprise Support Scheme. This will strengthen our financial support for Hong Kong companies, helping them conduct in-house R&D. It will also make the scheme even more user-friendly.
Our scientists are keen on establishing joint projects with the Mainland and overseas economies, taking advantage of our geographical location at the heart of Asia and the doorstep of the Mainland. In this, too, I recognise the foresight of Mr Croucher, who stressed the importance of Hong Kong-Mainland research collaboration. Today, the Croucher Foundation's funding programmes for scientific collaboration embrace such eminent scientific organisations as the Chinese Academy of Sciences, the German Academic Exchange Service and the French National Center for Scientific Research.
One of the challenges in promoting innovation and technology development is bringing research results to the real world. In this, I am pleased to see that our scientists are placing more emphasis on the realisation of their R&D results. For example, a non-invasive diagnostic method for Down Syndrome. Developed by local scientists, it has been introduced as a clinical service in Hong Kong and the United States. The group is also extending the technology for the diagnosis of other diseases.
Rest assured that the Hong Kong Government will continue to encourage commercialisation and private-sector investment in R&D. We shall continue to provide world-class technology infrastructure for companies, research institutions and universities. Continue to strengthen collaboration with the Mainland and other science and technology centres throughout the region and around the world. We shall continue, in short, to build a culture of dynamic innovation here in Hong Kong.
In the end, of course, it all comes down to our scientists, our researchers and our innovators. Without you, our programmes and policies, our funding - and, certainly, my speeches - won't count for much of anything.
With that in mind, ladies and gentlemen, I am grateful to the Croucher Foundation, to its founder and to the dedicated people who have made it a cornerstone in the promising future of science, technology and medicine in Hong Kong.
Thank you.
Ends/Tuesday, April 14, 2015
Issued at HKT 19:44
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