HONG KONG SCIENCE AND TECHNOLOGY PARKS CORPORATION RESPONSE TO THE CHIEF EXECUTIVE’S 2020 POLICY ADDRESS

Hong Kong Science and Technology Parks Corporation (HKSTP) supports various innovation and technology (I&T) related measures outlined in The Chief Executive's 2020 Policy Address. Such measures will promote closer collaboration between Hong Kong and Shenzhen and foster the development of Hong Kong into an international I&T hub. HKSTP welcomes the initiative for the Corporation to manage certain areas of the Innovation and Technology Zone in Futian, Shenzhen. This will support institutions and enterprises to start their business in the GBA, enhancing the I&T value chain and overall development of the ecosystem.   

Biomedical technology is one of the strategic focuses for HKSTP. There are approximately 150 biotech companies in the Park, which have grown significantly over the past few years. With the inclusion of pre-revenue biotechnology companies listed in Hong Kong and stocks listed on the Mainland Sci-Tech Innovation Board meeting certain prescribed criteria in the scope of eligible securities under the mutual market access programmes, it will create more opportunities for local biotechnology companies to raise funds for research. We believe this initiative will be beneficial to promote venture capital investment and accelerate the R&D process of biotech companies.

On talent development, HKSTP announced earlier this year the launch of HKSTP InnoAcademy and  the Technology Leaders of Tomorrow Programme, which has received an encouraging response. HKSTP will fully support the government’s Global STEM Professorship Scheme and Greater Bay Area Youth Employment Scheme, helping young talent pursue a career in the I&T sector, experience and capture opportunities offered in the region, and at the same time expand the talent pool. 

HKSTP welcomes the upcoming Smart City Blueprint for Hong Kong 2.0 to further accelerate smart city development. HKSTP will continue to serve as a living lab and work alongside the government’s plan to drive the application of technologies in key areas including 5G, sensors, data, AI and robotics, and IoT, supporting relevant industries and application developers. HKSTP will also support the government’s drive for Art Tech which will boost the application of technology in arts and creative industries.

Dr Sunny Chai, Chairman of HKSTP said, “It is encouraging to see the strong support to the I&T industry in this year’s Policy Address and the potential for local technology companies to seize the vast opportunities emerged from the GBA. Under the impact of pandemic and economic uncertainty, we have witnessed the pioneering spirit of local startups and how they pivot their strategy and adapt their products and solutions to address current challenges. HKSTP strives to empower partner companies to capitalise on the opportunities in the GBA and overseas, as well as to strengthen partnerships and networks.”

HKSTP believes that I&T will be the driving force for industry growth in the new normal, powering the growth of new economies and the domestic and international dual circulation. HKSTP will continue our efforts together with ecosystem partners in nurturing I&T talent, accelerating R&D and commercialisation of innovation.