{"id":936,"date":"2020-04-09T11:01:13","date_gmt":"2020-04-09T11:01:13","guid":{"rendered":"https:\/\/newsbites.hktdc.com\/?p=936"},"modified":"2021-01-22T16:19:16","modified_gmt":"2021-01-22T08:19:16","slug":"how-hong-kong-is-developing-its-innovation-sector","status":"publish","type":"post","link":"https:\/\/newsbites.hktdc.com\/markets\/how-hong-kong-is-developing-its-innovation-sector\/","title":{"rendered":"How Hong Kong Is Developing Its Innovation Sector"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"936\" class=\"elementor elementor-936\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4bc07961 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4bc07961\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-72d446a7\" data-id=\"72d446a7\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5f1bb838 elementor-widget elementor-widget-text-editor\" data-id=\"5f1bb838\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"color: #000000;\"><\/span><\/p>\n<p><span style=\"color: #000000;\">Given Hong Kong\u2019s developed infrastructure and central location in the Greater Bay Area development zone, the HKSAR Government is focusing on the city\u2019s strengths by encouraging development of innovation and technology \u2013 pledging over HKK$100 billion to initiatives across eight key areas, including research &amp; development and the pooling of tech talent.<\/span><\/p>\n<p><span style=\"color: #000000;\"><\/span><\/p>\n<p><span style=\"color: #000000;\">China has expressed its intentions to build the Greater Bay Area into an international innovation and technology hub to rival Silicon Valley. Likewise, the Hong Kong Government is transforming a greenfield site near the Lok Ma Chau Loop into the Hong Kong-Shenzhen Innovation and Technology Park \u2013 providing necessary infrastructure to nurture growing science and technology companies. As for Cyberport \u2013 one of Hong Kong\u2019s existing high-technology development parks and home to approximately 1,500 companies \u2013 the area will receive a HK$5.5 billion allocation to expand its campus size and take on more start-ups and technology SMEs.<\/span><\/p>\n<p><span style=\"color: #000000;\"><\/span><\/p>\n<p><span style=\"color: #000000;\">Under the government\u2019s InnoHK Clusters scheme, two new research clusters will be established at the Hong Kong Science Park. Focused on artificial intelligence and robotic technologies and healthcare technologies, the area will bring together bright minds to further Hong Kong\u2019s research and development in these two exciting fields. Additionally, research institutions and universities can now apply for science and technology funding (issued by the Central Government) for use in Hong Kong.<\/span><\/p>\n<p><span style=\"color: #000000;\"><\/span><\/p>\n<p><span style=\"color: #000000;\">Manufacturers will also benefit under the new initiatives, as a HK$2 billion Re-industrialisation Funding Scheme will be implemented to set up smart production lines in the city.<\/span><\/p>\n<p><span style=\"color: #000000;\"><\/span><\/p>\n<p><span style=\"color: #000000;\"><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-17959b4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"17959b4\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8868725\" data-id=\"8868725\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-13a6c91 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"13a6c91\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e18afaf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e18afaf\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b3e1868\" data-id=\"b3e1868\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4a91be3 elementor-widget elementor-widget-text-editor\" data-id=\"4a91be3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"color: #000000;\"><span style=\"color: #00ccff;\"><a style=\"color: #00ccff;\" href=\"https:\/\/hkmb.hktdc.com\/en\/1X0AKAHP\/market-spotlight\/Innovators-step-up-in-Hong-Kong\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"alignnone  wp-image-296\" src=\"https:\/\/newsbites.hktdc.com\/wp-content\/uploads\/2020\/03\/icon-share-yt.svg\" alt=\"HKTDC sourcing\" width=\"33\" height=\"33\" \/> Click here<\/a> <\/span>to learn more about the Hong Kong Government\u2019s innovation development initiatives.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Given Hong Kong\u2019s developed infrastructure and central location in the Greater Bay Area development zone, the HKSAR Government is focusing on the city\u2019s strengths by &hellip; <\/p>\n","protected":false},"author":2,"featured_media":5003,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-936","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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