Government Assistance
In keeping with the level playing field approach of the Hong Kong government, overseas investors who own Hong Kong incorporated companies are treated like their local counterparts and are eligible to apply for a few grants (and loans) that are available when specific criteria are met. Many of these grants are in the technology sector.
The key support programmes are:
DesignSmart Initiative
Set up to strengthen support for the design and innovation industries there are four elements:
- Design-business collaboration scheme - aims to promote collaboration between design and SMEs
- Design-research scheme - aims to support worthwhile research in design or branding-related areas.
- General Support Scheme- aims to promote and honour design excellence in
- Professional Continuing Education Scheme - aims to develop professional continuing education courses in design and its application
Small Entrepreneur Research Assistance Programme
Aims to help technology-based, entrepreneur-driven companies carry out business research at the pre-venture capital stage.
Patent Application Grant
All applications for functional patents and inventions (except cosmetic designs) are eligible for this grant.
Teaching Company Scheme
Aims to foster university-industry partnership through subsidising the cost of graduate students engaged from local universities to undertake proprietary R&D work.
New Technology Training Scheme
Intended to provide financial assistance to companies in Hong Kong wishing to have their staff trained, locally or overseas, in a new technology that would be useful to their business.
Hong Kong - Guangdong joint R&D fund
In keeping with the general trend in Hong Kong and the Mainland forging stronger economic ties, another fund was established that is jointly funded by the Hong Kong Government and the government of Guangdong Province (the area in mainland China just over the border from Hong Kong).
The fund will provide support to universities, research institutions and private enterprises to conduct applied R&D in six technology areas: radio frequency identification (RFID) technologies; automotive parts and accessory systems; electronic and information technology; new materials and fine chemical processing; critical precision manufacturing equipment; and new energy and energy-saving related technologies.