Speech by FS at HKSTP Co-Acceleration Programme Fund Launch and Partnership Signing Ceremony (with photos/video)
Following is the speech by the Financial Secretary, Mr Paul Chan, at the HKSTP Co-Acceleration Programme Fund Launch and Partnership Signing Ceremony today (April 7):
Sunny (Chairman of Hong Kong Science and Technology Parks Corporation, Dr Sunny Chai), Albert (Chief Executive Officer of Hong Kong Science and Technology Parks Corporation, Mr Albert Wong), distinguished guests, tech ventures, ladies and gentlemen,
Good afternoon. It is a pleasure to join you all today as we celebrate the launch of the Co-Acceleration Fund by the Hong Kong Science and Technology Parks (HKSTP) and witness the signing of partnership agreements between the HKSTP and leading industry players.
Innovation and technology are a key pillar of Hong Kong's future prosperity. Over the years, we have invested substantial resources to build a dynamic and vibrant innovation ecosystem. As a result, the number of start-ups in our city has been rapidly increasing. In 2024, we were home to nearly 4 700 start-ups, representing a 40 per cent rise since 2020. We expect this number to continue growing at an impressive pace.
I am delighted to learn about the newly established ARENA platform. It is heartening to learn how our start-ups are transforming bold ideas into promising ventures, and how the HKSTP is supporting them to connect with collaborators, corporate partners and investors.
We all understand that access to capital is critical as start-ups grow and develop. Hong Kong offers a full range of funding support, from angel investments, venture capital and private equity to our deep and liquid stock market. This ecosystem effectively supports the ambitions and needs of enterprises at various stages of development.
Besides, we recognise the unique value of public-private partnerships in driving innovation. Here in Hong Kong, we aim to guide capital into sectors that are strategically important to our future, including AI and data science, life and health technology, fintech and new energy and new materials. We understand that for frontier technologies and sectors, the Government may sometimes need to take the lead to show our vision and demonstrate our commitment to bringing our vision into reality. That's why we established the Hong Kong Investment Corporation Limited (HKIC). Serving as patient capital, the HKIC invests in nascent-stage ventures and sectors of tomorrow. To date, it has invested in more than 90 projects, achieving a 1 to 4 co-investment ratio - meaning that for every dollar the HKIC invested, it has attracted four dollars from private investors to follow.
The HKSTP's Acceleration Fund aligns with our vision. By partnering with industry leaders to co-invest in high-potential start-ups, particularly in generative AI, intelligent connected systems and sustainability, the Fund amplifies our collective capacity to turn innovation into impact.
Beyond funding, I applaud the HKSTP for offering start-ups holistic support: mentorship, technical expertise, connections, market access and global platform, equipping entrepreneurs with the tools to accelerate growth and enhance global competitiveness.
Ladies and gentlemen, we live in an era of profound challenges. Now we are confronted with the impact of unilateralism and protectionism unseen in a century. Beyond tariffs and trade barriers, disruptions to global scientific collaboration are also happening. Yet, it is precisely in this very climate of fragmentation that Hong Kong must leverage its unique strengths. With our vision, agility, connectivity and strong backing from our country, we are in the position to become a global convergence point of talent, capital and know-how. We can foster more cross-sectoral and cross-boundary collaboration to advance humanity's shared progress.
For that mission, every initiative matters. In this regard, allow me to extend my appreciation and gratitude to everyone involved in bringing the Co-Acceleration Fund to life. I wish you all the best of health and success in the time ahead. Thank you very much.
Speech by FS at HKSTP Co-Acceleration Programme Fund Launch and Partnership Signing Ceremony (with photos/video) Source: HKSAR Government Press Releases
Speech by FS at HKSTP Co-Acceleration Programme Fund Launch and Partnership Signing Ceremony (with photos/video) Source: HKSAR Government Press Releases
EDB reminds parents to choose primary schools under Central Allocation process for their children
The Education Bureau (EDB) today (January 12) reminded parents that children who have joined the Primary One Admission (POA) System for 2026 but have not yet secured a discretionary place can take part in the Central Allocation process for a Primary One (P1) place in a government or aided primary school. Parents concerned should make their choice of schools within the period from January 19 to 25.
Digitalisation of POA
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In line with the Smart Government strategy, the EDB has fully implemented digitalisation of the POA. Parents who have registered as POA e-Platform (ePOA) users and have bound their account to "iAM Smart+" may submit the Choice of Schools Form for Central Allocation from January 19 to 25 through the ePOA. Please refer to the related videos and Parent's Guide on the EDB's website (www.edb.gov.hk/en/edu-system/primary-secondary/spa-systems/primary-1-admission/poa_eplatform/index.html) for details of the procedures for activating and logging into an ePOA account and for making school choices for the Central Allocation of POA via the e-Platform.
Making school choices at Central Allocation Centres
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The EDB will send letters to parents on January 14 inviting them to make their choice of schools. To cater for the needs of different parents, parents can still submit the Choice of Schools Form in paper form by visiting the designated Central Allocation Centre at the suggested time slot (i.e. 9.30am to 12.30pm or 1.30pm to 4.30pm on January 24 (Saturday) or 9.30am to 12.30pm on January 25 (Sunday)) stated in the letter.
Parents who are ePOA users may choose to submit the Central Allocation Application via the ePOA or in paper form to the Central Allocation Centre but should not submit duplicate applications. Parents who have not yet received the letter by January 19 should call the School Places Allocation Section of the EDB (Hotline: 2832 7700) as soon as possible.
Only one parent of an applicant child is required to complete the school choice-making procedures. Parents are advised not to take their children to the Central Allocation Centre if possible. Parents who cannot make school choices within the suggested time slot can go to the designated Central Allocation Centre from 1.30pm to 4.30pm on January 25. The Choice of Schools Form will be sent together with the letter to parents who have submitted a paper Application Form at the Discretionary Places stage for filling out in advance.
In the event of adverse weather or other special conditions on any day during the period of making school choices, please pay heed to radio or television announcements on the relevant special arrangements.
Unable to submit application within specified choice-making period
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For individual parents who are unable to use the ePOA or go to the Central Allocation Centre to make school choices, they can authorise in writing a representative to bring the completed Choice of Schools Form and their signed Letter of Authorisation to the Central Allocation Centre to proceed with the related procedures.
To apply for POA 2026 for their children after January 25, parents need to complete necessary procedures with the School Places Allocation Section, which will separately arrange P1 places for the applicant children in June.
Change of residential address
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An EDB spokesman reminded parents that, if they have recently moved their residence or have such plans in the near future, they are required to inform the School Places Allocation Section as soon as possible so that they can make school choices in the POA School Net where their new home is located. Parents should fill in the actual residential address of their child. If they provide a false address for securing a P1 place, the POA application of their child will be rendered void and the P1 place allocated will be withdrawn.
The EDB has put in place a monitoring mechanism to verify the residential addresses of applicant children as given by the parents. Random checks have also been stepped up. The public may call the School Places Allocation Section to report suspected cases of using a false address by parents for their children's POA application. The EDB will take action against false address cases.
Mechanism of Central Allocation
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Central Allocation is composed of two parts. Part A, which takes up 10 per cent of the P1 places earmarked for Central Allocation, is for unrestricted school choices. Parents can choose up to three government or aided primary schools in any school net. Part B takes up the remaining 90 per cent of the P1 places earmarked for Central Allocation. Parents of applicant children residing in the school net concerned are to select schools from the "Choice of Schools List for Central Allocation (Primary One Admission 2026)" of their school net, while parents of applicant children who intend to commute daily to schools in Hong Kong are to select schools from the "2026 Choice of Schools List for Central Allocation (For Applicant Children who intend to commute daily to schools in Hong Kong)". Parents should fill in the Choice of Schools Form in the order of their preference.
The mechanism of the Central Allocation is based on parents' choices in general. The computer-programmed allocation will first process the school choices in Part A and then the school choices in Part B. For oversubscribed schools, the order of priority in allocating places will be determined by random numbers generated by the computer for individual applicants to ensure fairness.
For information about the procedures for Central Allocation, please call the EDB's 24-hour automatic telephone enquiry service at 2891 0088.
Release of Central Allocation results
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For parents who have already activated their ePOA account via "iAM Smart" or "iAM Smart+", they will receive their Central Allocation results through the ePOA from 10am on June 3. Parents who wish to receive the allocation results via SMS on June 3 may choose such an option in the Choice of Schools Form. In addition, the allocation results will be sent to parents by post on June 3 and 4.
Source: AI-found images
