The Innovation & Technology Commission today launched the Technology Talent Scheme to nurture and bring together more tech talents on a pilot basis for five years.

There are two initiatives under the scheme - the Postdoctoral Hub programme and the Reindustrialisation & Technology Training Programme.

The Postdoctoral Hub programme provides funding support to recipients of the Innovation & Technology Fund and innovation and technology tenants of the Hong Kong Science & Technology Parks Corporation and the Hong Kong Cyberport Management Company.

They can recruit up to two postdoctoral talents for research and development work. The fund will provide a monthly allowance of $32,000 for each of them for up to 24 months.

They must possess a doctoral degree in a science, technology, engineering and mathematics (STEM)-related disciplines from either a local university or a well-recognised non-local institution.

The Reindustrialisation & Technology Training Programme subsidises local companies on a 2:1 matching basis to train their staff in advanced technologies, especially those related to Industry 4.0.

The programme is administered by the Vocational Training Council. The trainee must be a Hong Kong permanent resident and employed by a non-government and non-subvented local enterprise.

Secretary for Innovation & Technology Nicholas Yang said: "Talent is a key factor in the global innovation and technology race. The Hong Kong Special Administrative Region Government has been taking a proactive approach to attracting and nurturing top-notch talent and building a critical talent pool required for driving innovation and technology."

To implement the measures announced in Chief Executive Carrie Lam’s Policy Address, $500 million was earmarked under the fund to launch the scheme.

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