The Innovation & Technology Commission is committed to helping entrepreneurs succeed with the aid of innovation and technology, through infrastructural facilities and funding programmes, Deputy Commissioner for Innovation & Technology Andrew Lai said today.

Speaking at the Innovative Entrepreneur of the Year 2009 opening ceremony, Mr Lai noted the Small Entrepreneur Research Assistance Programme, or SERAP, funded by the commission, provided start-up capital for technology entrepreneurs and companies.

"With a maximum funding of $4 million for each approved project on a dollar-for-dollar matching basis, SERAP helps entrepreneurs to undertake technological research and development projects with business potential," he said.

He cited examples of SERAP-funded companies that have won the Innovative Entrepreneur of the Year award over the years. Titanium Technology Limited received SERAP funding in 2002 and 2004 and won the award in 2003. The company's face-recognition system has earned high regard.

AKOS Advanced Technology Limited, which received SERAP funding in 2003 - to develop an indoor air-quality monitoring device controlled by a Personal Data Assistant - won the award the same year.

"These examples show that combining the efforts of entrepreneurs with support from the Government, we can see more successful cases of innovative technology coming up," Mr Lai added.

To enhance Hong Kong enterprises' competitiveness, create more opportunities and foster talent in the field, the commission also provides funding programmes such as the Internship Programme, Patent Application Grant and DesignSmart Initiative.

"In the ever-changing global market, entrepreneurs have to grasp the opportunity to build our own brands and forge ahead towards high value-added businesses with creativity and innovative technology," Mr Lai said.

The theme for the 13th Innovative Entrepreneur of the Year this year is "Better Future by Innovation". A total of 112 entrepreneurs have been awarded over the past 12 years.