HKSTP Bolsters I&T Sector Resilience with Financial Relief Extension to Partner Companies and Startups

Hong Kong, 16 September 2020 -- Hong Kong Science and Technology Parks Corporation (HKSTP) today unveiled another round of financial relief measures to existing tenants and incubatees at Science Park, InnoCentre and the Industrial Estates in Tai Po, Yuen Long and Tseung Kwan O.

HKSTP will provide a new 6-month rental concession of up to 75% of agreed rental fees for the period of 1 October 2020 through to 31 March 2021 (Relief Period). This marks the third round of financial relief from HKSTP since 1 October 2019, with an intensified focus on supporting the small and medium enterprises.

Between 16 September 2020 and 15 October 2020, existing HKSTP tenants including partner companies, retail, food & beverage (RFB) operators and professional services companies can apply for the rental concession on rental space capped at 5,000 square feet. This support measure comes into effect after the expiry of the earlier 6-month rental concession period from 1 April to 30 September 2020.

For all HKSTP incubatees actively participating in the Incu-App, Incu-Tech and Incu-Bio programmes during the Relief Period, they will be provided with a special one-off grant of HK$37,500. In addition, the incubatees will be entitled to the 75% rental relief on any rental fees still payable after the rental subsidies from existing programme funding have been applied.

Albert Wong, CEO at HKSTP said, “All of Hong Kong’s innovation and technology community is feeling the strain of the prolonged pandemic. As the leading innovation and technology ecosystem enabler, HKSTP hopes the latest relief measures will motivate partner companies and startups to be resilient and maintain Hong Kong’s reputation as a world-class I&T hub.”

Further details on eligibility and the application process of the rental concession and the special grant will be provided via direct communications from HKSTP.