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Hong Kong govt 2012-13 IT spend to hit HK$626.5 million

Teresa Leung | Feb. 3, 2012
The Hong Kong SAR government expects to spend HK$626.5 million on IT in 2012-2013, down 4.4% from last year, according to the Budget delivered by Financial Secretary John Tsang on Wednesday--his fifth Budget and the last of the current-term government.

R&D among SMBs

To support the SMB's R&D, the government proposes to enhance the Small Entrepreneur Research Assistance Program (SERAP) under the Innovation and Technology Fund (http://www.itc.gov.hk/en/funding/itf.htm) by increasing the funding ceiling for each project under the SERAP from HK$4 million to HK$6 million. Tsang said the government will also refine the operational details of the program and expand its scope of funding.

To encourage more young people to engage in R&D, Tsang noted that the government will increase the monthly allowance for each participant in the internship program under the ITF by nearly 20%. In the past three years, more than 800 internships were provided under the program, according to government figures.

 

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