Technology is also one of the key industries that will lead Hong Kong towards advanced manufacturing.
Companies that show high potential will be hand-picked to join HKSTP’s 3-year Incu-Tech programme.
- Green Technology
- Information and Communications Technology (ICT)
- Material and Precision Engineering
Financial Aid Package
The programme offers a maximum of HK$ 180,000 Financial Aid Package to each successful applicant.
To access this funding, incubatees are subject to milestone assessments conducted at the end of month 3 and every 6 months thereafter during the incubation period. Based on progress and performance, each incubatee may have access to a financial grant of HK$ 30,000 per assessment, the purpose of which is to help incubatees cover part of their operation costs.
Mandatory Admission Criteria
- An applicant must be a Hong Kong registered technology start-up company established for no more than 2 years before the date of application. HKSTP may request for proof including but not limited to audited financial reports of the company.
- Founding team members must hold more than 50% of the company at the time of application submission. Founding members must be individual shareholders or non-operating holding companies (as reflected by the Articles of Association or any other valid proof).
- The company must have at least two full-time staff members; and all staff must be able to work in Hong Kong legally. The team of full-time engineers and technologists must, individually or collectively, own at least 10% of the company's equity. If the applicant has technology from a university and the applicant is approved by the said university, any shares held by the founding university professor(s) shall count towards the 10% equity ownership requirement.
- At least 50% of full-time staff must be engaged in technology-related work and based at Hong Kong Science Park.
- R&D activities must be carried out at the Incubation Centre. It cannot operate as a sales and marketing office only.
- No retail activities or large-scale production shall be conducted at the Incubation Centre.
- The applicant's office and work bench set up at the Incubation Centre must be environmentally friendly (i.e. must not create smell, noise or other elements which may disturb others) and should not handle hazardous materials (except in the wet labs of Biotech SME Centre adhering to HKSTP published safety standard and guidelines), and must be able to operate in an office building.
- Normally, a shareholder working for the applicant cannot be a shareholder or former shareholder who is working for or worked for any of the following:
(i) more than two other companies in the same field that have previously joined and failed to graduate from any incubation programme operated by HKSTP, Hong Kong Cyberport Management Company or Hong Kong Design Centre (together the “HK Incubators”);
(ii) a company in the same field that has previously joined and graduated from any incubation programme operated by any of the HK Incubators; or
(iii) a company in the same field currently in any incubation programme(s) operated by any of the HK Incubators.
- Require of less than 1,600 sq ft of office space.
- In case of successful application, the applicant needs to fulfill the admission criteria throughout the incubation period, and maintain at least 2 full-time staff members at the office at Hong Kong Science Park Technology Incubation Centre, where they should conduct the core R&D work.
- The applicants should have a full disclosure of shareholder's identity and holding (up to the top level) of the applying entity. The general guideline is that should there be corporate shareholders, they should not be mature companies in the same industry involving in the R&D of the same or similar products.
Other Qualitative Assessment Criteria
- Quality and competence of the management team
- Sound business plan
- R&D content
- Milestones set for every 6 months after move-in