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Government Support

The Hong Kong Government is determined to support innovation and technology companies to grow and prosper in Hong Kong. It does this by:

Government Support
  • Investing in human resources
  • Providing state-of-the-art infrastructure
  • Offering funding support to R&D activities
  • Upholding an effective intellectual property protection system

Every year, the six research-based universities in the city produce 6,000 graduates in scientific and engineering disciplines. To enlarge the talent pool, Hong Kong operates a liberal and open immigration regime which allows companies to bring in staff from Mainland China and overseas who possess special skills, knowledge or experience which are of value and not readily available in Hong Kong.

The Hong Kong Government invests heavily in providing world-class infrastructure to support R&D activities in Hong Kong. Infrastructure developments include the Hong Kong Science & Technology Parks, the Cyberport and five R&D Centres which work closely with the industry to develop new technologies with substantial market potential.

Technology companies can apply for various funding programmes under the Innovation and Technology Fund (ITF). They can enjoy a cash rebate equivalent to 30 percent of their expenditure on R&D projects funded by the ITF and on applied R&D projects funded entirely by companies and conducted by local designated research institutions under the Research and Development Cash Rebate Scheme.

Support for Social Entrepreneurship

The Social Innovation and Entrepreneurship Development Fund (SIE Fund) connects the community with businesses, non-governmental organisations (NGOs), academics and philanthropies to provide budding entrepreneurs with a wide range of resources to help them develop innovative ideas, products and services that serve unmet social needs. In FY 2015/16 the SIE Fund has provided funding to 25 ventures to help social entrepreneurs actualise their innovative ideas and their empathy for the underprivileged. Besides this, an online platform has been built at the Fund’s website to share stories of “HK social innovators” with the aim of inspiring more visionary persons to start their own ventures.

If you are planning to establish an R&D function in Hong Kong, InvestHK can provide practical information on various funding schemes available.

Fast Facts

  • Strong tradition of collaboration between the private sector, world-class universities, government-supported facilities and research centres, offering technology companies the ideal environment to reduce their business risks and increase their chances of success
  • Best universities in Asia: two of our universities are ranked in Asia’s top five, cultivating high quality engineering talent and researchers
  • • Hong Kong ranks first globally for the second year in a row in the World Competitiveness Yearbook 2017 (Institute for Management Development)
  • • Strong government support for R&D initiatives (Innovation & Technology Fund has supported close to 6,200 projects valued over HK$ 12.6 billion)

Further Reading (Please click here to download Acrobat Reader)

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