Innovation and Technology Bureau established

     The Innovation and Technology Bureau (ITB) is formally established today (November 20). The bureau is responsible for formulating holistic policies relating to innovation and technology; strengthening the co-ordination among the Government, industry, academia and research sectors; and expediting the development of innovation, technology and related industries in Hong Kong.

     The work priorities of the bureau are as follows:

1. The ITB will make more focused efforts in promoting collaboration with the world's top-notch science and research institutes.

2. Innovative application and technological development are the driving forces for industrial upgrading and restructuring. The ITB will seize upon the opportunities brought about by re-industrialisation and the advent of the Internet of Things to promote smart production and to work on developing areas of manufacturing that can be based in Hong Kong, so as to create more quality and diversified employment opportunities.

3. The ITB will study and implement measures to encourage more private organisations, venture capital funds and angel investors to invest in innovation and technology. The bureau will also study the feasibility of co-investment in technology start-ups by government and private funds.

4. The ITB will collaborate with relevant policy bureaux and government departments, as well as the public and private sectors, in examining Smart City initiatives.

5. Taking advantage of the advanced information and communications technology infrastructure in Hong Kong, the ITB will seek to build Hong Kong into a connected Wi-Fi city. The ITB will adopt new technologies, and facilitate further use of public sector information and big data applications.

6. The ITB will study and promote the adoption of innovation and technology in tackling social issues, e.g. serving the elderly and underprivileged groups (including persons with disabilities) through the use of technologies, addressing the needs of an ageing population and promoting healthy ageing.

7. The ITB will seek to promote the procurement of local innovation and technology products and services, in a way that complies with the World Trade Organization's procurement agreement for governments.

8. The ITB will augment the pool of innovation and technology talents, and inspire the younger generation to pursue a career in innovation and technology, thereby enhancing the competitiveness of Hong Kong.

9. To achieve the above targets, the ITB will revisit the work priorities of various innovation and technology institutions and see if they complement each other.

     The Secretary for Innovation and Technology, Mr Nicholas W Yang, said Hong Kong is well placed for pursuing innovation and technology. Hong Kong's capability, potential and development in the area of innovation are increasingly recognised by leading institutions in the field.

     He said, "The ITB will support Hong Kong in leveraging the immense potential of the National 13th Five-Year Plan, making Hong Kong a 'super-connector' in the arena of innovation and technology, linking up top local, Mainland and global innovation and technology institutions, and creating greater business possibilities.

     "The ITB will continue to liaise with various sectors and collect their views for formulating holistic and specific policies so as to be more effective in carrying out co-ordination work and focusing on development efforts.

     "My team and I will serve and listen to the community with an open attitude. Let's make use of technologies to open up new frontiers for Hong Kong!"

Ends/Friday, November 20, 2015
Issued at HKT 17:10