$50m fund to support start-ups
Thursday, February 26, 2015
(The Standard by Imogene Wong) – A HK$50 million corporate venture fund will be set up to support start-ups, while another HK$150 million is aimed at social enterprises.
John Tsang observed a burgeoning of start-ups in the past few years. "I have seen an enterprise developing wireless chargers for electronic devices, and another designing a mobile application for pre-ordering coffee," he said.
The venture fund will be launched by Hong Kong Science and Technology Parks Corporation, to be matched with private funds to invest in start- ups that are either located in the Science Park, or have participated in its incubation programs.
