ENG-2019 — Page 149

6

Innovation and Technology

commercialising their R&D results. Each university gets up to $8 million a year. From the scheme's inception in 2014 till end-2019, about $162 million had been provided for 250 start-

ups.

Over the next few years from 2018-19, the HKSTPC will receive total government funding of $10 billion, about $7 billion of which will go towards support for its tenants and incubatees, including the launch of a Science and Technology Entrepreneur Programme and expansion of the Corporate Venture Fund.

Cyberport finances its own Creative Micro Fund and Cyberport Macro Fund, providing early- stage funding to Cyberport's start-up community. Under the Space Sharing Scheme for Youth, Cyberport operates a Smart-Space 8 co-working space in Tsuen Wan to accommodate some 100 start-ups, offering entrepreneurial training and support to help young entrepreneurs carry out innovation activities.

Pooling and Nurturing Talent

Talent is crucial for developing I&T. The government operates the Postdoctoral Hub and the Re-industrialisation and Technology Training Programme, both launched under the ITF. The Postdoctoral Hub funds ITF recipients, HKSTPC and Cyberport incubatees and I&T tenants, and investee start-ups under the Innovation and Technology Venture Fund to engage postdoctoral talent for R&D work. Up to end-2019, the government had supported over 860 postdoctoral researchers with about $500 million in funding. In February, the government extended the maximum engagement period of each postdoctoral researcher from two years to three years.

The training programme subsidises employees of local enterprises on a government-enterprise matching basis of 2:1 to receive training in advanced technologies, especially those related to Industry 4.0. As at end-2019, it had supported the training of 2,051 people with about $12.9 million of funding.

In addition, the Researcher Programme under the ITF supports eligible organisations in recruiting undergraduates and postgraduates from local universities as researchers to help in R&D projects. Since its inception in 2004, more than 4,700 researcher positions had been approved, involving about $1.2 billion. In February, the government extended the maximum engagement period of each researcher from two years to three years and raised the monthly allowances for researchers.

The Technology Talent Admission Scheme provides a fast-track arrangement to admit R&D talent. In the 2019 Policy Address, it was announced that the number of technology areas covered by the scheme would increase to 13 and that the coverage would extend to all companies conducting R&D activities in these 13 areas in Hong Kong. The newly added areas were fifth-generation communications, digital entertainment, green technology, integrated circuit design, the internet of things and microelectronics.

Smart City Development

The government seeks to build a world-famous Smart Hong Kong characterised by a strong economy and high quality of living. The Smart City Blueprint for Hong Kong sets out

107