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Hong Kong Government Unveils New Measures to Boost Start-up Investment and Innovation Ecosystem

HK

Hong Kong Government Unveils New Measures to Boost Start-up Investment and Innovation Ecosystem
HK

HK

Hong Kong Government Unveils New Measures to Boost Start-up Investment and Innovation Ecosystem

2025-09-01 20:32 Last Updated At:20:48

Remarks by SITI at media session

Following are the remarks by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, at a media session after attending the launch event and press briefing on the World Intellectual Property Organization (WIPO) 2025 Global Innovation Index Ranking of World's Top 100 Innovation Clusters today (September 1):

Reporter: Given WIPO's report with a new emphasis on VC deals, what is the role of government funds like the HKIC (Hong Kong Investment Corporation) and the ITVF (Innovation and Technology Venture Fund) in attracting private capital and putting investment in start-ups? Will there be more new measures to lure more such capital?

Secretary for Innovation, Technology and Industry: As you know, starting from this year, WIPO has an addition of venture capital deals in the ranking evaluation. This third metric actually is very important to our future development direction. Looking back at the past several years in Hong Kong, we performed very well. For example, we have initiated the Innovation and Technology (Venture) Fund since a few years ago. So far, this ITVF, together with some venture capital of Hong Kong Science Park and Cyberport, has invested in over 100 companies, investing about HK$1.1 billion and attracting more than HK$18 billion from private companies. This is one example. Another thing: Since a few years ago, the Hong Kong Government has rolled out a policy to support universities to help our young students build start-up companies, including the TSSSU (Technology Start-up Support Scheme for Universities) programme. Let me tell you, in the past several years, we have supported more than 620 companies through the TSSSU programme. All these companies are mainly developed by our young students. The third example I can tell you is that many universities have also made a lot of efforts to support start-up companies. To give you an example: In the City University of Hong Kong, they have very successful "HK Tech 300" programme. In the past few years, this "HK Tech 300" programme has invested in over 1 000 start-up companies in Hong Kong, among which 80 per cent of the money is seed funding, and the remaining 20 per cent of the money is angel funding. In the future, the Hong Kong Government will roll out an improved Innovation and Technology Venture Fund, and more importantly, starting from next year, we will initiate a new investment programme, called the Innovation and Technology Industry-oriented Fund. Also, we will start to implement the plan of the Pilot I&T Accelerator Scheme to get the most start-ups from all over the world to Hong Kong. I think through this series of policy initiatives, Hong Kong's start-up ecosystem will become more vibrant.

Reporter: According to WIPO, Shenzhen is the main contributor in terms of PCT application within the cluster. As you just mentioned, Hong Kong is planning to pick up on PCT (Patent Cooperation Treaty) applications, so could you please elaborate more regarding the measures, or any policies the SAR Government is considering or planning to roll out?

Secretary for Innovation, Technology and Industry: Based on my understanding, the chief economist of WIPO mentioned Huawei and Tencent as major players in the PCT applications. I can also tell you, besides big companies, many universities in Hong Kong have seen their patent application numbers increase very rapidly. For the number of the patent application increase in the past two years, our top-100 five universities in Hong Kong have patent applications with the increase rate of 27 per cent and 23.4 per cent. Hong Kong's patent application increases very fast. Take Huawei as an example: Huawei has built a big research institute in Hong Kong Science Park. The number of employees last year has increased to over 700. The number will continue to increase. That means many big companies have set research institutes in Hong Kong. They want to fully utilise advantages of Hong Kong to enhance their R&D (research and development). I believe the patent number in the overall Greater Bay Area will continue to increase. Thank you.

(Please also refer to the Chinese portion of the remarks.)

Source: AI-found images

Source: AI-found images

Seven persons arrested during anti-illegal worker operation

The Immigration Department (ImmD) mounted an anti-illegal worker operation codenamed "Contribute" today (January 15).During the operation, ImmD Task Force officers raided premises under renovation in a newly built public housing estate in Sheung Shui district.A total of six suspected illegal workers and one suspected employer were arrested. Thearrested suspected illegal workers comprise six men, aged 22 to 41. Furthermore, one man, aged 45, suspected of employing the illegal workers, was also arrested. An investigation into the suspected employers is ongoing, and the possibility of further arrests is not ruled out.

Apart from mounting the enforcement operation, ImmD officers and a promotional vehicle have been deployed to distribute "Don't Employ Illegal Workers" leaflets and convey the message in the estate.

An ImmD spokesman said, "Any person who contravenes a condition of stay in force in respect of him or her shall be guilty of an offence. Also, visitors are not allowed to take employment in Hong Kong, whether paid or unpaid, without the permission of the Director of Immigration. Offenders are liable to prosecution and upon conviction face a maximum fine of $50,000 and up to two years' imprisonment. Aiders and abettors are also liable to prosecution and penalties."

The spokesman stressed that it is a serious offence to employ people who are not lawfully employable. Under the Immigration Ordinance, the maximum penalty for an employer employing a person who is not lawfully employable, i.e. an illegal immigrant, a person who is the subject of a removal order or a deportation order, an overstayer or a person who was refused permission to land, has been significantly increased from a fine of $350,000 and three years' imprisonment to a fine of $500,000 and 10 years' imprisonment to reflect the gravity of such offences. The director, manager, secretary, partner, etc, of the company concerned may also bear criminal liability. The High Court has laid down sentencing guidelines that the employer of an illegal worker should be given an immediate custodial sentence.

According to the court sentencing, employers must take all practicable steps to determine whether a person is lawfully employable prior to employment. Apart from inspecting a prospective employee's identity card, the employer has the explicit duty to make enquiries regarding the person and ensure that the answers would not cast any reasonable doubt concerning the lawful employability of the person. The court will not accept failure to do so as a defence in proceedings. It is also an offence if an employer fails to inspect the job seeker's valid travel document if the job seeker does not have a Hong Kong permanent identity card. Offenders are liable upon conviction to a maximum fine of $150,000 and to imprisonment for one year. In that connection, the spokesman would like to remind all employers not to defy the law by employing illegal workers. The ImmD will continue to take resolute enforcement action to combat such offences.

Under the existing mechanism, the ImmD will, as a standard procedure, conduct an initial screening of vulnerable persons, including illegal workers, illegal immigrants, sex workers and foreign domestic helpers, who are arrested during any operation with a view to ascertaining whether they are trafficking in persons (TIP) and/or forced labour victims. When any TIP and/or forced labour indicator is revealed in the initial screening, the ImmD officers will conduct a full debriefing and identification by using a standardised checklist to ascertain the presence of TIP and/or forced labour elements. Identified TIP and/or forced labour victims will be provided with various forms of support and assistance, including urgent intervention, medical services, counselling, shelter or temporary accommodation and other supporting services. The ImmD calls on TIP and/or forced labour victims to report crimes to the relevant departments immediately.

For reporting illegal employment activities, please call the dedicated hotline 3861 5000, by fax at 2824 1166, email to anti_crime@immd.gov.hk, or submit "Online Reporting of Immigration Offences" form at www.immd.gov.hk.

Seven persons arrested during anti-illegal worker operation  Source: HKSAR Government Press Releases

Seven persons arrested during anti-illegal worker operation Source: HKSAR Government Press Releases

Seven persons arrested during anti-illegal worker operation  Source: HKSAR Government Press Releases

Seven persons arrested during anti-illegal worker operation Source: HKSAR Government Press Releases

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