Remarks by SITI at media session
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Reporter: Given WIPO's report with a new emphasis on VC deals, what is the role of government funds like the HKIC (Hong Kong Investment Corporation) and the ITVF (Innovation and Technology Venture Fund) in attracting private capital and putting investment in start-ups? Will there be more new measures to lure more such capital?
Secretary for Innovation, Technology and Industry: As you know, starting from this year, WIPO has an addition of venture capital deals in the ranking evaluation. This third metric actually is very important to our future development direction. Looking back at the past several years in Hong Kong, we performed very well. For example, we have initiated the Innovation and Technology (Venture) Fund since a few years ago. So far, this ITVF, together with some venture capital of Hong Kong Science Park and Cyberport, has invested in over 100 companies, investing about HK$1.1 billion and attracting more than HK$18 billion from private companies. This is one example. Another thing: Since a few years ago, the Hong Kong Government has rolled out a policy to support universities to help our young students build start-up companies, including the TSSSU (Technology Start-up Support Scheme for Universities) programme. Let me tell you, in the past several years, we have supported more than 620 companies through the TSSSU programme. All these companies are mainly developed by our young students. The third example I can tell you is that many universities have also made a lot of efforts to support start-up companies. To give you an example: In the City University of Hong Kong, they have very successful "HK Tech 300" programme. In the past few years, this "HK Tech 300" programme has invested in over 1 000 start-up companies in Hong Kong, among which 80 per cent of the money is seed funding, and the remaining 20 per cent of the money is angel funding. In the future, the Hong Kong Government will roll out an improved Innovation and Technology Venture Fund, and more importantly, starting from next year, we will initiate a new investment programme, called the Innovation and Technology Industry-oriented Fund. Also, we will start to implement the plan of the Pilot I&T Accelerator Scheme to get the most start-ups from all over the world to Hong Kong. I think through this series of policy initiatives, Hong Kong's start-up ecosystem will become more vibrant.
Reporter: According to WIPO, Shenzhen is the main contributor in terms of PCT application within the cluster. As you just mentioned, Hong Kong is planning to pick up on PCT (Patent Cooperation Treaty) applications, so could you please elaborate more regarding the measures, or any policies the SAR Government is considering or planning to roll out?
Secretary for Innovation, Technology and Industry: Based on my understanding, the chief economist of WIPO mentioned Huawei and Tencent as major players in the PCT applications. I can also tell you, besides big companies, many universities in Hong Kong have seen their patent application numbers increase very rapidly. For the number of the patent application increase in the past two years, our top-100 five universities in Hong Kong have patent applications with the increase rate of 27 per cent and 23.4 per cent. Hong Kong's patent application increases very fast. Take Huawei as an example: Huawei has built a big research institute in Hong Kong Science Park. The number of employees last year has increased to over 700. The number will continue to increase. That means many big companies have set research institutes in Hong Kong. They want to fully utilise advantages of Hong Kong to enhance their R&D (research and development). I believe the patent number in the overall Greater Bay Area will continue to increase. Thank you.
(Please also refer to the Chinese portion of the remarks.)
Ends/Monday, September 1, 2025
Issued at HKT 20:32
Issued at HKT 20:32
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