S for IT attends Digital Cities Summit in San Francisco (with photos)
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     The Secretary for Innovation and Technology, Mr Nicholas W Yang, started his visit programme in San Francisco by attending the Digital Cities Summit hosted by Stanford University and PARC today (October 3, San Francisco time).

     Mr Yang took part in a panel discussion on the rise of urbanisation and digital technologies with the Assistant Director of the Greater London Authority, Mr Andrew Collinge, and former Chairman of the global GSM Association Dr Mike Short while the Chairman of the Smart London Board, Professor David Gann, served as panel facilitator.

     The first annual Digital Cities Summit is bringing together some 200 global CEOs, entrepreneurs and policymakers at the Stanford campus, and focuses on how disruptive technology is changing the ways that citizens, governments and commercial organisations interact among each other.

     In the afternoon, Mr Yang held a meeting with the Director of Strategic Partnerships of the Mayor's Office of San Jose, Mr Khanh Russo. They had a good discussion on San Jose's Smart City Vision and its efforts in making the city a demonstration city.

     He then proceeded to the Prospect Silicon Valley Technology Demonstration Center to see how the non-profit urban tech innovation hub focused on solutions for sustainable, smart cities helps start-ups.

     This was followed by a visit to Plug and Play Tech Center, which is one of the world's biggest start-up accelerators that specialises in growing technology start-ups. It is also a global innovation platform in Silicon Valley for start-ups, corporations and investors. Plug and Play invests in over 100 companies every year and runs industry-specific accelerator programmes, with success stories including PayPal and Dropbox. Plug and Play is also an international partner of the Cyberport Accelerator Support Programme.

     At a dinner hosted by the Hong Kong Economic and Trade Office in San Francisco, Mr Yang spoke to some 100 guests who are mainly Silicon Valley entrepreneurs and professionals involved or interested in smart city, the Internet of Things, big data, life sciences and robotics.

     In his speech entitled "Innovation and Technology: The New Economic Driver for Hong Kong", Mr Yang highlighted the need for diversification in Hong Kong's economic structure and said that innovation and technology is the tool to develop high value-added industries or manufacturing processes, especially in areas where Hong Kong has strengths and potential, such as robotics, smart city and healthy ageing.

     "Re-industrialisation is a major area of focus of the Innovation and Technology Bureau. Since our bureau was established in November 2015, we have invested over US$1.5 billion to promote re-industrialisation. That includes US$512 million for the expansion of Science Park and US$1 billion to develop an Advanced Manufacturing Centre and a Data Technology Hub in Tseung Kwan O Industrial Estate," he said.

     Mr Yang told the audience that an array of initiatives with total funding at an unprecedented amount of US$2.3 billion to boost the innovation and technology ecosystem were announced in this year's Policy Address and Budget. They include a US$260 million Midstream Research Programme for Universities to conduct more midstream and applied research projects in key technology areas, a US$260 million Innovation and Technology Venture Fund to invest in local start-ups alongside private venture funds, a US$64 million Innovation and Technology Fund for Better Living to support projects that can improve the daily lives of people, pumping up the Cash Rebate Scheme to encourage the private sector to invest in research and development, and increasing the quota of Cyberport incubation programmes and providing more office space to their start-ups.

     Noting that the start-up scene in Hong Kong is blossoming, Mr Yang encouraged Silicon Valley entrepreneurs and professionals to explore the business opportunities or to pursue careers in innovation and technology in Hong Kong.

     Tomorrow (October 4, San Francisco time), Mr Yang will visit major technology firms in Silicon Valley, attend a lunch with board members of the Hong Kong Association of Northern California and meet with members of the Hong Kong community in the Bay Area.

Ends/Tuesday, October 4, 2016
Issued at HKT 13:09

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