Hong Kong is seeking to allocate HK$ 200 million to Cyberport to enhance support for start-ups, and another HK$ 100 million to develop e-sports, according to the 2018-2019 Hong Kong Budget launched on February 28.

The Special Administrative Region of China aims to use Cyberport to enhance the support for start-ups and promote the development of digital technology ecosystem.

As Paul Chan, the financial secretary of Hong Kong, said, a new plan will be set up for Cyberport to attract multi-national companies, including internet giants and financial tech companies from mainland China and overseas markets, to locate their offices and research and development branches in Hong Kong.

Cyberport also has plans to give an up-to-HK$200,000 in financial support for qualified start-ups, allowing them to invest in market research and development, and support business trips for overseas exhibitions. The start-ups under the wing of Cyberport also have opportunities to double their financial support to as much as HK$500,000.

Chan also pointed out that, the eSports industry, of great potential, has developed rapidly in recent years. In December 2017, the Cyberport technology park, owned by the Government of the Hong Kong Special Administrative Region, explored the idea of constructing an in-house eSports space with high-end facilities. 

In addition to financial support, Cyberport will also provide service offerings to hold eSports events, arouse interest in game development and nurture young talents.

Source: hk.eastmoney.com & esportsobserver

Proofread by William Logsdon