Chief Executive CY Leung has proposed the formation of an Innovation & Technology Bureau to help the development of new businesses and investment in Hong Kong.
Delivering his 2014 Policy Address today, he expressed hope such an initiative would be supported, to formulate objectives and policies for the body, which can help drive technological innovation and provide work opportunities for young people.
He also noted the progress of existing initiatives, such as the Working Group on Manufacturing Industries, Innovative Technology, & Cultural & Creative Industries, which is studying creative industries’ development, and the Innovation & Technology Fund, which finances research and development in applied science and enhances industries’ technology.
He said the working group will make concrete recommendations on start-up companies, building brands, nurturing talent, and providing infrastructure support. The fund is under review by the Innovation & Technology Commission, he added, in response to industry feedback that it should be more progressive and proactive in supporting enterprises and commercialisation.
At the same time, the Government and the Hong Kong Science & Technology Parks Corporation are reviewing the effectiveness and long-term development direction of the Science Park and industrial estates.
