“I will allocate $200 million to Cyberport to promote start-ups.I will allocate $100 million to Cyberport for e-sports.” Paul Chan, Financial Secretary HKSAR

 

“I will allocate $200 million to Cyberport to enhance the support for start-ups and promote the development of digital technology ecosystem.  Cyberport is going to launch an “easy landing” programme to attract multinational companies (including overseas and Mainland leading internet enterprises and Fintech companies) to set up offices and R&D units in Hong Kong.  It will also roll out a new support scheme, offering financial assistance up to $200,000 for each eligible start-up to conduct market research and promotion, as well as participate in business missions, trade fairs and exhibitions, etc. outside Hong Kong.  The financial assistance offered under Cyberport’s incubation programme to individual start-ups will also increase by 50 per cent to $500,000.

 

In recent years, e-sports have been developing rapidly with tremendous potential.  Last December, Cyberport completed a study on the promotion of e-sports in Hong Kong and made a number of recommendations.  To promote the development of e-sports, I will allocate $100 million to Cyberport. The Cyberport Arcade will become a local e-sports and digital entertainment node providing a competition venue for e-sports.  Support will also be provided for the e-sports sector in areas such as technological development and talent nurturing.”

 

Source: Paul Chan, FS Budget Speech 2018

Subscribe to newsletter

Leave a Reply

Your e-mail address will not be published. Required fields are marked *