Cyberport welcomes the 2023-24 Budget of the HKSAR government, in particular its forward-looking measures aimed at propelling Hong Kong’s I&T growth.
Among the measures announced are:
- HK$50 million to boost Web3 ecosystem development;
- HK$500 million to launch the “Digital Transformation Support Pilot Scheme” at Cyberport to assist SMEs in applying ready-to-use basic digital solutions to accelerate their digital transformation;
- HK$265 million for Cyberport to launch a dedicated Smart Living Start-ups Incubation Programme; and
- The launch of a FinTech internship scheme for students to acquire practical work experience in FinTech enterprises in Hong Kong and the Greater Bay Area to inspire interest in a FinTech career.
The new measures will fuel the growth of many of Cyberport’s ongoing efforts, including Web3, smart living, digital transformation, FinTech, GreenTech, GreenFi, and digital entertainment.
Following the establishment of the “Web3 Hub@Cyberport” in January, the Web3 community at Cyberport has grown to include over 100 enterprises and start-ups. The new funding will undoubtedly foster a more favourable environment for Hong Kong to excel and lead in this new field.
By launching a dedicated Smart Living Start-up Incubation Programme, Cyberport anticipates that 90 eligible start-ups will benefit from the programme every year for the next five years, with each start-up receiving a maximum grant of HKD$500,000, plus access to a host of support opportunities and resources.
Simon Chan, Chairman of Cyberport, said, “Cyberport is pleased to receive enhanced support from the HKSAR government to expedite Web3 ecosystem development, propel SME digital transformation, and nurture smart living start-ups and FinTech young talent. We will continue to work hand in hand with the government in nurturing more outstanding start-ups and I&T talent, enriching the I&T ecosystem, and promoting the development of technology and emerging industries.”
