Innovation and Technology Industry-Oriented Fund invites applications for fund managers
The Innovation and Technology Commission announced today (November 13) that applications for fund managers of the Innovation and Technology Industry-Oriented Fund (ITIF) are now open. The deadline for applications is January 16, 2026.
"To dovetail with the national strategy of developing 'patient capital' and further promote the effective collaboration among the Government, industry, academia, research and investment sectors, the Government has set up the ITIF to give play to the guiding and leveraging roles of government funding to channel more social capital to invest in innovation and technology (I&T) industries and support the development of emerging and future industries of strategic importance," a spokesman for the Commission said.
With a funding allocation of $10 billion approved by the Legislative Council, the ITIF will invest in five thematic areas, namely (a) life and health technology, (b) artificial intelligence and robotics, (c) semi-conductors and smart devices, (d) digitalisation, upgrading and transformation, and (e) future and sustainable development. In order to guide market capital participation, the Government will play the role of "setting the stage", in a bid to attract more strategic investors. Each of the strategic investors shall commit no less than $3 billion, as limited partners (LPs), to invest alongside the Government into sub-funds under the various thematic areas. The Government will select eligible professional fund managers to set up the sub-funds. In addition to the contributions from the Government and strategic investors, the fund managers should also bring in other market investors to participate as LPs to make a contribution to the sub-funds. The capital commitment from the Government is capped at $1 billion to each sub-fund and will not exceed 25 per cent of the fund size of each sub-fund. The overall target size of the sub-funds is at least $40 billion.
Each of the selected fund managers shall act as a general partner of the sub-funds and is responsible for setting up a limited partnership fund in Hong Kong, with a minimum fund size of $2 billion (including the contribution of the Government), raising non-government capital for the sub-fund, managing the day-to-day operations of the sub-fund, identifying investment targets according to the investment mandate, providing support to the investee companies and producing regular reports. The assessment criteria for fund managers include the applicant's background, management team's resources, investment strategy and processes, investment performance, company resources, experience and contributions, fundraising capabilities as well as fees, and would seek the advice from the Steering Committee.
Furthermore, the Government welcomes more strategic investors to participate in the ITIF, jointly promoting the development of I&T industries in Hong Kong.
Details of the application are available on the ITIF website (www.itf.gov.hk/en/funding-programmes/promoting-new-industrialisation/itif/index.html). For enquiries, please contact the ITIF Secretariat (Tel: 3863 0956; email: itif-enquiry@itc.gov.hk). For enquiries on becoming strategic investors, please contact the New Industrialisation Development Office (email: enquiry@itib.gov.hk) of the Innovation, Technology and Industry Bureau.
Source: AI-found images
CS leads delegation of Working Group on Planning and Construction of the University Town to visit Beijing Municipal Administrative Center and Xiong'an New Area in Hebei
The delegation of the Working Group on Planning and Construction of the University Town under the Committee on Development of the Northern Metropolis, led by the Chief Secretary for Administration, Mr Chan Kwok-ki, today (April 1) continued its visit. Representatives from the eight University Grants Committee-funded universities also joined the delegation today. They visited the Beijing Municipal Administrative Center and Xiong'an New Area in Hebei, which are listed as part of the "one core and two wings" national development strategy, to learn about practical experience in large-scale new area planning and construction, with a view to providing solid reference for the planning and construction of the Northern Metropolis University Town (NMUT).
In the morning, the delegation visited the Beijing Municipal Administrative Center, touring the planning exhibition hall, the Yunhe Business District, the Beijing Library and the Grand Canal Museum of Beijing. They learned about the overall planning and development of the Center, its experience in attracting and concentrating higher education resources, as well as promoting the integration of the industry, academic and research sectors. They also observed the canal-side development and conservation and the construction of major public cultural facilities there.
Mr Chan said that the Beijing Municipal Administrative Center has been developed into a world-class harmonious and liveable demonstration area through high-standard planning, green and smart development, and a model of integration between campus and city. He said he hopes to draw on its valuable experience in relieving city functions, sharing resources, and innovation ecosystems, thereby providing practical inspiration for the top-level design, smart campus development and sustainable growth of the NMUT.
In the afternoon, the delegation visited Xiong'an New Area in Hebei, touring the comprehensive service centre of Xiong'an's start-up area. They learned about its planning and construction, as well as its "one-stop" integrated services for relieving Beijing of functions that are not essential to its role as the nation's capital. Subsequently, the delegation visited the University Town of Fifth Cluster North Collaborative Innovation Exhibition Hall and the Beijing Forestry University Xiong'an Campus Smart Exhibition Hall and project construction site.
Mr Chan said that the first batch of Beijing universities' campuses in Xiong'an has entered a large-scale construction stage, achieving campus-city integration, deep integration of industry and education, and smart and green development, injecting strong innovative vitality into the new area. He added that the delegation learned about Xiong'an New Area's experience in fields such as higher education institution and industry linkage, infrastructure-led development, and sustainable planning. It will provide valuable insights for the high-quality planning and construction of the NMUT, helping it develop into a hub for international education, innovation, and technology.
Mr Chan, the Secretary for Education, Dr Choi Yuk-lin, and other members of the delegation returned to Beijing tonight and will continue their visit tomorrow (April 2).
CS leads delegation of Working Group on Planning and Construction of the University Town to visit Beijing Municipal Administrative Center and Xiong'an New Area in Hebei (with photos/video) Source: HKSAR Government Press Releases
CS leads delegation of Working Group on Planning and Construction of the University Town to visit Beijing Municipal Administrative Center and Xiong'an New Area in Hebei (with photos/video) Source: HKSAR Government Press Releases
CS leads delegation of Working Group on Planning and Construction of the University Town to visit Beijing Municipal Administrative Center and Xiong'an New Area in Hebei (with photos/video) Source: HKSAR Government Press Releases
CS leads delegation of Working Group on Planning and Construction of the University Town to visit Beijing Municipal Administrative Center and Xiong'an New Area in Hebei (with photos/video) Source: HKSAR Government Press Releases
CS leads delegation of Working Group on Planning and Construction of the University Town to visit Beijing Municipal Administrative Center and Xiong'an New Area in Hebei (with photos/video) Source: HKSAR Government Press Releases
CS leads delegation of Working Group on Planning and Construction of the University Town to visit Beijing Municipal Administrative Center and Xiong'an New Area in Hebei (with photos/video) Source: HKSAR Government Press Releases
CS leads delegation of Working Group on Planning and Construction of the University Town to visit Beijing Municipal Administrative Center and Xiong'an New Area in Hebei (with photos/video) Source: HKSAR Government Press Releases
CS leads delegation of Working Group on Planning and Construction of the University Town to visit Beijing Municipal Administrative Center and Xiong'an New Area in Hebei (with photos/video) Source: HKSAR Government Press Releases
CS leads delegation of Working Group on Planning and Construction of the University Town to visit Beijing Municipal Administrative Center and Xiong'an New Area in Hebei (with photos/video) Source: HKSAR Government Press Releases
