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Loan organization should be established by government for innovative technology companies, expert says

出自香港新聞網 - 樹仁新傳系學生實習習作

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Structure: 9 Content: 8.5 What about the new "official organisation"? It was not mentioned again after the lead.

By Matthew Chan November 13, 2018


An official organization should be established to offer cash loan for innovative technology companies, an expert says.

“If a company can allocate a million dollar, they don’t need to claim the expenses from the government,” said Jackson Tang Chi Shing, the CIO of Ketch'Up Bike, a local bike-sharing startup.

Tang said the execution of Innovation and Technology Fund (ITF) is “strange”, that the HK$10 billion is “never used” by startup companies, despite the budget is higher than most countries.

He reckoned the funding execution of ITF is hindering Hong Kong Innovation and Technology development from Shenzhen and other cities.

Companies can only receive the fund after their claiming applications are successfully granted by the government, however startup companies normally do not have such huge capital, said Tang.

Besides ITF, Pilot Technology Talent Admission Scheme (PTTAS) is another policy implemented by the government to boost the sector’s development

Tang said the scheme is efficient to attract global technology talents, meanwhile nurturing local talents to enhance the awareness of local I&T development.

“Cooperation and sharing between countries will lead to progressing, but competitions are not helping the industry to learn from the others,” said Tang.

Kenneth Chau Kin Wang, president of Technology Incubation Network (TIN) said that the Greater Bay Area would not impact the positioning of Hong Kong Science Park, as it increases I&T communications between the cities.

“I have seen several I&T projects from mainland China and Taiwan that are rarely find in Hong Kong’s projects in a Foshan competition,” said Chau.

Chau reckoned Hong Kong has been chasing other countries’ development, such as inventing local mobile payment app.

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