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Creating an atmosphere of innovation and technology

A favourable environment for innovation and technological development is being built up in Hong Kong. Recently, there have been some promising developments.

There are currently more than 300 co-work spaces (Smart-Space) at Cyberport, with an occupancy rate of more than 90 per cent. In this year's Policy Address, I proposed to increase the provision of Smart-Space facilities at Cyberport by 50 per cent. Cyberport has also received an overwhelming number of new applications. Beyond the co-work spaces, the number of applications for Cyberport's start-up incubation programmes is also increasing. To promote financial technologies, Cyberport will reserve 150 places for start-ups in the field in the coming five years.

The Hong Kong Science and Technology Parks Corporation held its Career Expo@Science Park last week. The number of innovation and technology positions offered by participating companies and the number of job applicants attending the Expo registered record highs.

In this year's Policy Address, nearly $5 billion was allocated to support innovation and technology, including $200 million for the launch of a Cyberport Macro Fund.

Hong Kong people, especially young people, are full of creativity. In some areas, our technology level is close to world-class standard. The Innovation and Technology Bureau and other related departments will keep up their efforts in spearheading and supporting the development of innovation and technology in Hong Kong.

March 14, 2016