Remarks by SITI at media session
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Following are the remarks by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, at a media session after going to the launch occasion and press rundown on the World Intellectual Property Organization (WIPO) 2025 Global Innovation Index Ranking of World’s Top 100 Innovation Clusters today (September 1):
Press Reporter: Given WIPO’s report with a brand-new focus on VC offers, what is the function of federal government funds like the HKIC (Hong Kong Investment Corporation) and the ITVF (Innovation and Technology Venture Fund) in bring in personal capital and putting financial investment in start-ups? Will there be more brand-new procedures to tempt more such capital?
Secretary for Innovation, Technology and Industry: As you understand, beginning with this year, WIPO has an addition of equity capital handle the ranking examination. This 3rd metric really is really essential to our future advancement instructions. Recalling at the previous numerous years in Hong Kong, we carried out effectively. We have actually started the Innovation and Technology (Venture) Fund because a couple of years earlier. Far, this ITVF, together with some endeavor capital of Hong Kong Science Park and Cyberport, has actually invested in over 100 business, investing about HK$ 1.1 billion and drawing in more than HK$ 18 billion from personal business. This is one example. Another thing: Since a couple of years back, the Hong Kong Government has actually presented a policy to support universities to assist our young trainees construct start-up business, consisting of the TSSSU (Technology Start-up Support Scheme for Universities) program. Let me inform you, in the previous a number of years, we have actually supported more than 620 business through the TSSSU program. All these business are primarily established by our young trainees. The 3rd example I can inform you is that numerous universities have actually likewise made a great deal of efforts to support start-up business. To provide you an example: In the City University of Hong Kong, they have really effective “HK Tech 300” program. In the previous couple of years, this “HK Tech 300” program has actually bought over 1 000 start-up business in Hong Kong, amongst which 80 percent of the cash is seed financing, and the staying 20 percent of the cash is angel financing. In the future, the Hong Kong Government will present an enhanced Innovation and Technology Venture Fund, and more notably, beginning with next year, we will start a brand-new financial investment program, called the Innovation and Technology Industry-oriented Fund. We will begin to carry out the strategy of the Pilot I&T Accelerator Scheme to get the most start-ups from all over the world to Hong Kong. I analyze this series of policy efforts, Hong Kong’s start-up environment will end up being more dynamic.
Press reporter: According to WIPO, Shenzhen is the primary factor in regards to PCT application within the cluster. As you simply pointed out, Hong Kong is preparing to detect PCT (Patent Cooperation Treaty) applications, so could you please elaborate more concerning the steps, or any policies the SAR Government is thinking about or preparing to present?
Secretary for Innovation, Technology and Industry: Based on my understanding, the primary economic expert of WIPO pointed out Huawei and Tencent as significant gamers in the PCT applications. I can likewise inform you, besides huge business, lots of universities in Hong Kong have actually seen their patent application numbers increase extremely quickly. For the variety of the patent application boost in the previous 2 years, our top-100 5 universities in Hong Kong have patent applications with the boost rate of 27 percent and 23.4 percent. Hong Kong’s patent application increases really quick. Take Huawei as an example: Huawei has actually constructed a huge research study institute in Hong Kong Science Park. The variety of staff members in 2015 has actually increased to over 700. The number will continue to increase. That implies numerous huge business have actually set research study institutes in Hong Kong. They wish to completely make use of benefits of Hong Kong to boost their R&D (research study and advancement). I think the patent number in the total Greater Bay Area will continue to increase. Thank you.
(Please likewise describe the Chinese part of the remarks.)