The Pilot Technology Voucher Programme proposed in the 2016-17 Budget is expected to be implemented in the second half of this year, Secretary for Innovation & Technology Nicholas Yang says.
Speaking to reporters after a radio programme today, Mr Yang said there is no additional funding involved as it is part of the Innovation & Technology Fund which has already been approved by the Finance Committee.
He said the subsidies could help small and medium enterprises in Hong Kong become more efficient and profitable.
Mr Yang pointed out that the smart production hub being planned in Tseung Kwan O that was also outlined in the Budget is based on actual requests and demand from estate tenants, who he described as "bona-fide and capable in research and development".
"They are looking for manufacturing facilities and the fact that the Hong Kong brand can command a premium, is also attractive to them," he added.
