Hong Kong commits US$383m to university tech spin-offs in bid to be global innovation hub
Hong Kong is stepping up its efforts to transform into a global tech hub, backing university-led commercialisation with a funding blitz spearheaded by the Hong Kong University of Science and Technology (HKUST). Speaking at HKUST’s annual Unicorn Day event on Tuesday, Secretary for Innovation, Technology and Industry Sun Dong said the government had committed over HK$3 billion (US$382.8 million) to 73 projects under the RAISe+ (Research, Academic and Industry Sectors One-plus)
Hong Kong is increasing its support for technology innovation by funding university-based startups. The government has allocated over $382.8 million to 73 projects through the RAISe+ initiative. This program aims to boost collaboration between academia and industry. The funding was announced at an event hosted by HKUST. The move is part of Hong Kong's strategy to become a leading global tech hub. Officials emphasized the importance of innovation for economic growth. The initiative includes research, academic, and industry partnerships. This investment highlights the government's commitment to technological advancement.
The funding aims to strengthen Hong Kong's position in the global technology sector.
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