The Innovation & Technology Commission announced today that the Pilot Innovation & Technology Accelerator Scheme Assessment Committee, under the Innovation & Technology Fund, has given its support in principle to a batch of nine applications.

The list of applicants supported is as follows: BJ-HK-SZ Innotech Accelerator; China Outbound Accelerator; China Resources Corporate Services (HK); Hong Kong Branch of The National Torch Academy of Innovation & Entrepreneurship Co.; Surrich Consulting Co.; Tenwings Accelevator Company; ventureLAB Smart City Accelerator; Xi'an Jiaotong University Hong Kong Institute of Advanced Studies Co.; and Zhong Xing No.1 Investment Fund.

Secretary for Innovation, Technology & Industry Prof Sun Dong said that the nine organisations possess extensive networks and resources in areas such as artificial intelligence, robotics, biomedicine, new energy and new materials.

“They will provide value-added services including co-working space, research and development support, investment matching and market development to accelerate the growth of innovation and technology (I&T) companies in Hong Kong.

“The Hong Kong Special Administrative Region Government will continue to enhance the I&T ecosystem and develop Hong Kong into an international I&T centre.”

The scheme aims to attract I&T enterprise service providers which have proven track records in and beyond Hong Kong to set up accelerator bases in the city and support the development and of I&T enterprises.

Under the scheme, the Government will provide funding support on a one‑to‑two matching basis in relation to service providers, with a ceiling subsidy of $30 million. The project duration is up to three years.

The scheme has received over 50 applications since launching in January. The nine organisations were selected for funding support based on a series of assessment criteria, including their levels of experience, operational models, capital and resources, the quality of their management and project teams, and expected benefits to Hong Kong’s I&T ecosystem.

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