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New Model of Business Incubation Program Launched in HK
A new model of business incubation program was launched Tuesday to facilitate Hong Kong's transformation from labor-intensive to higher value-added technology-intensive industry.
The new program helps create more advanced engineering opportunities in Hong Kong and at the same time stimulating capital investment in Hong Kong's high-tech industry, Peter Y. Lo, chief executive officer of the Hong Kong Industrial Technology Center Corporation, said at the launching ceremony.
In the new model, incubatees can have choices of equity distribution. Inside each of the options, every company can receive a credit allowance of up to 240,000 HK dollars ( 30,770 U. S. dollars) from the center during the three-year program, according to Lo.
At the same time, the start-ups can enjoy the professional value-added services in management, marketing, general business services and investment matching, Lo said.
According to Lo, there were more than 200 equities on the new model, and 12 of the applications were being processed.
Established in 1993, the center served as a statutory body with a mission to facilitate the promotion of technological innovation and application of new technologies in Hong Kong's industry.
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