Zhang Manli: The Hong Kong New Industrial Acceleration Program has received a total of six applications, with a total budget of approximately 3 billion Hong Kong dollars.

On January 15, Acting Secretary for Innovation and Technology of Hong Kong, Annie Man, responded in writing to questions raised by Councilor Wu Wing-ka during a Legislative Council meeting. She stated that the Advanced Manufacturing Acceleration Programme (Accelerator Programme) will be launched in mid-September 2024, with the first application expected to be received in mid-November 2024. As of December 31, 2024, the Accelerator Programme has received a total of six applications, covering areas such as life health technology, advanced manufacturing, and new energy technology. The total budget proposed for the initial projects of these six applications is approximately HK$3 billion. The Innovation and Technology Bureau is currently reviewing the six applications and has requested the companies to clarify and submit supplementary documents and information. The actual processing time of the applications will depend on various factors, such as the complexity of the case and the completeness and clarity of the information submitted by the companies. For each project, the minimum total project cost is HK$3 billion, with companies required to invest no less than HK$2 billion, while the government's funding limit is one-third of the approved project expenditure or HK$200 million, whichever is lower. Annie Man also mentioned that to encourage Accelerator Programme companies to conduct research and development or expand their R&D scale in Hong Kong, the Bureau has added a category for Accelerator Programme Research Talent under the Talent Pool. In addition to hiring four researchers under the existing Talent Pool, companies approved under the Accelerator Programme can hire an additional 36 researchers in a 1 (government) to 1 (company) matching form, with the government paying up to half of the existing Talent Pool's monthly allowance cap, for a total of three years. Furthermore, a category called the Accelerator Programme Talent Admission Scheme has been set up under the Technology Talent Admission Scheme for companies participating in the Accelerator Programme. Quotas will be allocated to funded companies to bring in technical personnel to assist in their plans to purchase, install, and operate necessary machinery and equipment in Hong Kong. Each company can receive a maximum of five quotas.