The Hong Kong Innovation and Technology Fund

The Hong Kong Innovation and Technology Fund (ITF) is designed to support research and development projects conducted by designated local public research institutes, R&D centres and local enterprises with a view to promoting innovation and technology in Hong Kong.

The ITF has approved 27,466 projects to date, generating HK$26.5 billion in funding from the Government. This includes a wide range of industrial sectors, including foundation industries, information technology and electrical and electronics.

香港创科基金: The ITF has also supported research and development projects into artificial intelligence (AI) and robotics, with a focus on the development of new applications of these technologies to meet the demands of society. In addition, the Hong Kong Science and Technology Parks run a number of accelerator programs that have supported startups in the field.

Smart City – The ITF has also funded initiatives for the development of smart cities. These include the Energising Kowloon East Office, which is focused on transforming Kowloon East into an innovative CBD area that embraces innovation and technology.

Construction – The ITF has also funded the Construction Innovation and Technology Fund (CITF), which encourages companies in the construction sector to adopt innovative methods and technologies that can improve the productivity, build quality, safety or environmental performance of built structures. The CITF will select products that have “proven effectiveness in boosting productivity, uplifting build quality, improving site safety or enhancing environmental performance of built structures” and pre-approve them before they can be used on projects.