Funding schemes under Innovation and Technology Fund to be streamlined and consolidated
The Innovation and Technology Commission (ITC) announced today (July28) that it would streamline and consolidate funding schemes under the Innovation and Technology Fund (ITF) with a view to promoting new industrialisation and supporting the development of new quality productive forces in a more focused manner.
The ITC has been continuously enhancing the ITF to keep pace with social-economic developments and to inject impetus into the future development of the local innovation and technology ecosystem. Since the current-term Government took office in July 2022, the ITC has launched the Research, Academic and Industry Sectors One-plus Scheme and the New Industrialisation Acceleration Scheme under the ITF, as well as established the Hong Kong Microelectronics Research and Development Institute. In addition, the current-term Government will soon launch the Innovation and Technology Industry-Oriented Fund, the Frontier Technology Research Support Scheme and the Pilot Manufacturing and Production Line Upgrade Support Scheme (Manufacturing+).
In order to more effectively support enterprises in seizing opportunities brought by new industrialisation to upgrade and transform through relevant funding schemes, the ITC will consolidate three funding schemes under the ITF which promote new industrialisation (namely the New Industrialisation Funding Scheme, the New Industrialisation and Technology Training Programme, and the Manufacturing+ to be launched this year) into the New Industrialisation Support Scheme. Under the new scheme, the objectives and modus operandi of the three schemes will remain unchanged.
Furthermore, after reviewing the policy objectives and beneficiaries of the various funding schemes under the ITF, the ITC will streamline and consolidate the following funding schemes:
(1) Consolidating the Research and Development Cash Rebate Scheme and the Innovation and Technology Support Programme (ITSP): Both funding schemes aim to support local research and development (R&D) centres, universities and other designated local public research institutes to collaborate with enterprises in conducting applied R&D projects with a view to transferring R&D outcomes to local industries, thereby assisting the industry to upgrade and transform, as well as to enhance its competitiveness. Given that the objectives and beneficiaries of the two funding schemes largely overlap, local public research institutes may continue to collaborate with enterprises for applied R&D projects through the ITSP after the consolidation measures take effect.
(2) Integrating the Patent Application Grant (PAG) into existing funding schemes: PAG aims to subsidise locally incorporated companies and Hong Kong permanent residents which/who have neither owned any patent nor received funding from PAG before to apply for patents for their own inventions. Given that existing R&D-related funding schemes under the ITF (namely ITSP, Mainland-Hong Kong Technology Cooperation Funding Scheme and Enterprise Support Scheme) have already been subsidising patent registration fees for R&D projects by universities, research institutions and enterprises, the ITC considers that PAG has achieved its goal of fostering a patent development culture in Hong Kong.
The consolidation of resources, adjustments to funding ceilings and ratios for the aforementioned funding schemes will take effect from August 1, 2025, at 0.00am. Relevant details are available in the Annex. Together with the streamlining measures previously reported by the ITC to the Panel on Commerce, Industry, Innovation and Technology of the Legislative Council, the number of funding schemes under ITF will be 10 after the consolidation.
Details of the aforementioned funding schemes are available on the ITF website (www.itf.gov.hk). For enquiries, please contact the secretariats of the schemes (tel: 3655 5678; email: enquiry@itf.gov.hk).
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