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The Innovation and Technology Commission (ITC) is committed to assisting entrepreneurs to succeed with the help of innovation and technology, through provision of infrastructural facilities and funding programmes, the Deputy Commissioner for Innovation and Technology, Mr Andrew Lai, said today (May 16).
Speaking at the opening ceremony of Innovative Entrepreneur of the Year 2009, Mr Lai said that the Small Entrepreneur Research Assistance Programme (SERAP), funded by ITC, provided start-up capital for technology entrepreneurs and companies.
"With a maximum funding of $4 million for each approved project on a dollar-for-dollar matching basis, SERAP helps entrepreneurs to undertake technological research and development (R&D) projects with business potential," he said.
He cited some examples of SERAP-funded companies that have won the Innovative Entrepreneur of the Year award over the years. Titanium Technology Limited received SERAP funding in 2002 and 2004 and won the award in 2003. The company's face recognition system has earned high regard in the sector.
AKOS Advanced Technology Limited, which received SERAP funding in 2003 to develop an indoor air quality monitoring device controlled by a Personal Data Assistant platform, won the award in the same year.
"These examples show that combining the efforts of entrepreneurs with support from the Government, we can see more successful cases of innovative technology coming up," Mr Lai added.
To enhance the competitiveness of Hong Kong enterprises, create more opportunities and foster talent in the field, the ITC also caters to different funding needs by providing various funding programmes such as the Internship Programme, Patent Application Grant and DesignSmart Initiative.
"In the ever-changing global market, entrepreneurs have to grasp the opportunity to build our own brands and forge ahead towards high value-added businesses with creativity and innovative technology," Mr Lai said.
The theme for the 13th Innovative Entrepreneur of the Year this year is "Better Future by Innovation". A total of 112 entrepreneurs have been awarded over the past 12 years.
Ends/Saturday, May 16, 2009
Issued at HKT 16:16
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