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The Science Park had proven to be adept at not only bringing complementary businesses and facilities together, but also in incubating and nurturing innovators and entrepreneurs, the Commissioner for Innovation and Technology, Miss Janet Wong, said today (March 19).
Speaking at the graduation ceremony of the Incubation Programme of Hong Kong Science and Technology Parks Corporation, Miss Wong said the Incubation Programme, from its inception in 1992, had always been an important part in assisting technology-based companies at the critical start-up stage.
She said, "The programme has successfully incubated more than 230 start-up companies, over 180 of which are still in business today."
Miss Wong pointed out that in the past seven years, incubatees and graduates had filed over 360 intellectual properties, including patents, trademarks and registered designs. Over 160 international and local awards have been won by companies under the programme. Among them, six of the companies graduated today.
In the same period, the graduates had obtained over 180 cases of government funding, and attracted over $665 million in "angel"/venture capital investment. Among them, three graduates have listed on the Hong Kong Exchange.
Miss Wong said, "Innovation and application of technology are the most effective ways to add value to products and services. The Government's commitment to promote this new industry has never been greater. The Science Park is a clear testament to the Government's commitment to promote innovation and technology, and our resolve to advance technology initiatives in a sustainable manner.
"This commitment was further demonstrated in the Financial Secretary's Budget Speech delivered last month. With the joint effort of the Government and the Corporation, the development of Phase 3 of the Science Park will be transformed into reality very shortly."
Apart from infrastructure, the Government is also providing various types of financial support to the technology sector. A scheme under the Innovation and Technology Fund, the Small Entrepreneur Research Assistance Programme (SERAP), provides pre-venture capital stage financing to support technology entrepreneurs to carry out research and development work for starting new businesses and conducting market validation.
"A grant of up to $4 million will be provided on a dollar-for-dollar matching basis. SERAP has helped many of your predecessors successfully pursue their dreams," Miss Wong said.
Ends/Friday, March 19, 2010
Issued at HKT 17:20
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