NEW INDUSTRIALISATION FUND LAUNCHED

16-9-2024

gov_rss

The Innovation & Technology Commission today launched a $10 billion New Industrialisation Acceleration Scheme to provide funding support for enterprises in strategically important industries to set up new smart production facilities in Hong Kong.

The Government will provide funding by supplementing investments, on a 1:2 basis, by enterprises. Applicants for the funding must be engaged in either of the following sectors: life and health technology, artificial intelligence, data science, advanced manufacturing, or new energy technology.

The minimum total project cost for each project is $300 million, with enterprises contributing no less than $200 million and the Government providing a maximum of one--third of the total approved costs or $200 million, whichever is lower.

The maximum of $200 million provided under the scheme may be split between two approved projects at most.

In addition, the Government will encourage enterprises with approved projects to carry out research in Hong Kong, or increase the scale of their research in the city, by providing additional funding for them to engage research talent, and to employ any non-local talent required for setting up their new production facilities in Hong Kong.

The New Industrialisation Acceleration Scheme is open for applications throughout the year. Call 3655 5678 or email nias@itc.gov.hk for enquiries.




PREVIOUSNEXT

Latest Business News

最新商業資訊


HK a top place to do business  3-10-2024

gov_rss

Hong Kong is among the top 10 performers of 50 economies covered in the first Business Ready 2024 Report published by the...


August retail sales dip 10.1%  3-10-2024

gov_rss

The value of total retail sales in August, provisionally estimated at $29.2 billion, decreased 10.1% compared with the sa...


Fintech measures discussed  3-10-2024

gov_rss

Secretary for Financial Services & the Treasury Christopher Hui today chaired the fourth meeting of the Coordination ...


Performing arts scheme launched  2-10-2024

gov_rss

The Government announced today the launch of the Signature Performing Arts Programme Scheme for selecting performing arts...