The Government will launch the Technology Talent Admission Scheme, or TechTAS, to meet the demand for talent in the innovation and technology sector.

The scheme will fast-track the admission of overseas and Mainland research and development talent and will run on a pilot basis for three years.

A maximum of 1,000 people will be admitted in the scheme's first year.

It will be open to tenants and incubatees of the Science & Technology Parks Corporation and Cyberport that are engaged in biotechnology, artificial intelligence, cybersecurity, robotics, data analytics, financial technologies and material science.

Secretary for Innovation & Technology Nicholas Yang said the talent shortage is a global problem and Hong Kong is doing its share in nurturing talent.

"We are listening to different companies in Cyberport and also the Science Park. They actually tell us these people are needed, these talents are needed.

"So what we (are doing) is we are depending on them to pick what is best for Hong Kong."

Mr Yang said the scheme will help nurture local talent as it requires applicant companies and institutes to employ one new local full-time employee plus two local interns engaging in technology-related work for every three non-local people admitted.

At the quota application stage, applicant companies and institutes must show to the Innovation & Technology Commission the talent sought is in short supply in Hong Kong.

Each successful applicant company or institute will be given an admission quota of 100 people a year.

Briefings on the scheme will be held from May to mid-June with a target to invite applications by the end of next month.

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