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Innovation, Technology and Industry Bureau

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The organisations have to sign an agreement with the government and the phased grant will be given according to the progress and achievements of the project as stated in the agreement. A Secretariat is set up to support the daily operation of the fund. An Assessment Committee is established to assess
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set up a HK$ 5 billion Innovation and Technology Fund to provide financial support for projects which will contribute to the improved use of innovation and technology in our industrial and commercial sectors. In 2000, the government established the Innovation and Technology Commission and the Applied
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According to the Enterprise Innovation (2017), the Steering Committee will bring more inter-departmental collaboration to speed up the development process of innovation and technology in Hong Kong. The Committee also creates a top-down approach to formulate policy instead of bottom-up approach which
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submitted the bill to reform existing bureaus to establish Innovation and Technology Bureau. However, pan-democratic councilor found it offensive as the Chief Executive-elected intervene current administration and legislation. Therefore, they opposed against the bill. It has become political dispute
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The Council finally approved HK$ 2 Billion to the Fund. The Innovation and Technology Venture Fund Corporation (ITVFC) was then set up. The Corporation will select venture capital funds and co-invest as Co-investment Partners in IT start-ups. The CP has the obligation to identify potential investee
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The Government submitted the Bill in 2015 again. Pan-democratic councilors filibustered in the Bill and the Budget in the beginning of the debate. However, it passed with the support of the majority of pro-establishment councilors. The Bureau was finally established after three submission of Bill.
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There is a monitoring and supervision system which monitors the approved projects according to the project phases stated in the agreement. The subvented organisations must maintain a separate and proper set of accounts and records for the projects and submit the progress and financial reports on a
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After CY Leung’s inauguration, the bill of establishing the Bureau had been submitted twice to the Legislative Council. The Bill was originally passed in the Council. However, the pan-democratic councilors filibustered in the Finance Committee against the budget of establishing the Bureau because
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In order to promote application of innovation and technology in society and improve people’s daily living, the Government proposed to set up a $ 500 million Innovation and Technology Fund for Better Living. The ITB will consider setting different themes, such as health, transportation, education,
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development ("Loop") in March 2008. The HK-SZ IT Park is located at the Loop, occupying 87 hectares which were originally administered by Shenzhen. The study commenced in June 2009 and was completed in 2014. Two stages of public engagement and consultation were conducted between 2010 and 2012.
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promised to "personally lead a high-level, inter-departmental Steering Committee on Innovation and Technology to examine and steer measures under the eight areas of innovation and technology development as well as Smart City projects" (HKSAR, 2017, p. 28) in her first Policy Address. The
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The Bureau submitted proposal of Innovation and Technology Venture Fund to the Finance Committee at Legislative Council in 2016. According to the Document (FCR(2016–17)67), the Fund is to encourage more private organisation, venture capital funds and angel investors to invest in I&T.
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The initial TVP would be implemented for 3 years with $ 500 million, providing up to a $ 200,000 fund for each applicant on a 2:1 matching basis. Funded projects are expected to be accomplished in a year while the fund would not cover the business operating costs.
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they were unhappy with the administration about rearranging the agenda of the meeting to prioritise the budget of the Bureau. The Bill was ineffective as the Finance Council could not pass the Budget on the designated time.
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An agreements was signed between the two regions agreeing that the Loop would operate under the principles of "applying the laws and land administration system of the HKSAR"; "non-profit making"; and "friendly negotiation".
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Innovation and Technology Commission (2016) Item for Finance Committee: Innovation and Technology Fund Head 111- Innovation and Technology New Subhead "Innovation and Technology Venture Fund Corporation" retrieved from
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Compared to the hierarchy of Innovation and Technology Bureau, some people were worried that the Steering Committee seems to have a higher level of status to override the function of the Bureau.
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Not more than 40% of target investment or HK$ 40 million while aggregate amount will not exceed HK$ 50 million and aggregate co-investment amount will not exceed HK$ 400 million
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The Technology Voucher Programme ("TVP") was announced in the 2016- 2017 Budget and was launched under the Innovation and Technology Fund to help the business development of
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In November 2022, the ITIB confirmed that the government had asked a search engine, reported to be Google, to list first the correct national anthem instead of
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Background brief on the Pilot Technology Voucher Programme and related Government procurement policy (2017). HKSAR. Retrieved 2 December 2017, from
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Cheung T. (7 November 2015). Questions and answers about Hong Kong’s new innovation and technology bureau. South China Morning Post. retrieved from
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Duration of Partnership ranging from 5 years to 12 years. if no investment is made within the first 5 years, the Agreement will lapse automatically
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Bi-annual meetings dedicated to the discussion of the development of the HK-SZ IT Park, additional meeting would be held if it is deemed necessary.
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Science and Technology Research Institute was also established to strengthen government support for innovation and technological development.
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of the topic and provide significant coverage of it beyond a mere trivial mention. If notability cannot be shown, the article is likely to be
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objective of the Steering Committee is to foster Hong Kong’s innovation and technology development expeditiously and efficiently.
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HKSAR Government. (13 June 2016). 創新及科技局局長出席立法會資訊科技及廣播事務委員會會議簡介「創科生活基金」(只有中文)(Chinese only). Innovation and Technology Bureau.
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Innovation and Technology Commission (2016) Innovation and Technology Venture Fund Frequently Asked Questions retrieved from
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Hong Kong-Shenzhen Innovation and Technology Park in the Lok Ma Chau Loop (2017). Hong Kong. Retrieved 2 December 2017, from
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The Joint Task Force instigated an agreement between Hong Kong and Shenzhen to carry out an extensive study regarding the
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Create a "vibrant I&T ecosystem for various stakeholders in the government, industry, academic and research sectors"
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http://www.scmp.com/news/hong-kong/politics/article/1876457/questions-and-answers-about-hong-kongs-new-innovation-and
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is believed that lacking support from the senior level executives hindering inter-departmental collaboration.
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The Bureau had been advocated by former Chief Executive CY Leung in his campaign in 2012. His predecessor
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Joint Secretariat for the Advisory Bodies on Civil Service and Judicial Salaries and Conditions of Service
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and approve the application from the business community, academia, relevant bureaux or departments, etc.
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Relevant reports regarding the HK-SZ IT Park progress would be submitted to facilitate annual review
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The Bureau includes an Innovation, Technology and Industry Branch and oversees the operation of the
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ITVFC will act as passive investor, the VC Partner will make the decisions and do all due diligence
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safety and environmental protection, so as to facilitate the participation of different sectors.
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Having a minimum remaining committed capital of HK$ 120 million as at the date of application
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A master agreement will set out the rights and obligation of both parties for co-investment
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Technology Voucher Programme (TVP). (2017). Itf.gov.hk. Retrieved 2 December 2017, from
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http://www.legco.gov.hk/yr16-17/english/panels/ci/papers/cidevitb20170306cb1-624-1-e.pdf
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companies which qualify as Eligible Local IT Start-ups to the ITVFC for co-investment.
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Having a remaining fund life of at least five years to co-invest with the Corporation.
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Local resources, business network and contribution to the Hong Kong ecosystem (30%)
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http://www.legco.gov.hk/yr16-17/english/panels/ci/papers/ci20170221cb1-555-4-e.pdf
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The HK-SZ IT Park to serve as a "key base for co-operation in scientific research"
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It may require cleanup to comply with Knowledge's content policies, particularly
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Strategic value and support that can be provided to the investee companies (30%)
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20/F, West Wing, Central Government Offices, 2 Tim Mei Avenue, Tamar, Hong Kong
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Encourage scientific collaboration among Mainland and international institutes
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Hong Kong–Taiwan Economic and Cultural Co-operation and Promotion Council
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Conflicting Role Against Steering Committee on Innovation and Technology
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Please help to demonstrate the notability of the topic by citing
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ITVFC and the VC partners will invest and exit on the same term
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Encourage more Venture Capital to invest in Hong Kong startups
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Mainland and Hong Kong Closer Economic Partnership Arrangement
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in establishment of the Bureau. And the Bill was not passed.
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http://www.itc.gov.hk/en/doc/funding/FCR(2016-17)67(EN).pdf
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Support and assists start-ups, small and medium enterprises
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Dispute of Establishment of Bureau in Legislative Council
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Committee for Safeguarding National Security of the HKSAR
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https://www.policyaddress.gov.hk/2017/eng/pdf/PA2017.pdf
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http://www.itb.gov.hk/tc/speeches/2016/pr_20160613.htm
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https://www.policyaddress.gov.hk/pa98/english/high.htm
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Background and experience of the investment team (15%)
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Working Family and Student Financial Assistance Agency
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A major contributor to this article appears to have a
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https://topick.hket.com/article/1923585/回應林鄭親掌創科督導委員會
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notability guidelines for companies and organizations
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