Government collects views regarding Innovation and Technology Industry-Oriented Fund

     The Innovation, Technology and Industry Bureau and the Innovation and Technology Commission today (January 15) invite the market to submit expression of interest (EOI) for the Innovation and Technology Industry-Oriented Fund (ITIF).
      
     The Chief Executive announced in the 2024 Policy Address to set up a $10 billion ITIF to channel more market capital to invest in specified emerging and future industries of strategic importance, with a view to building the innovation and technology ecosystem in a systematic manner. The ITIF represents the Government's revamped approach in innovation and technology industries investment so that market forces can be fully harnessed to scale up investment, with the focus placed on specified industries of strategic importance. The invitation for EOI outlines the preliminary proposed ITIF framework to facilitate the market to express their opinions, which covers the amount of capital that must be committed by a strategic investor, eligibility requirements of a fund manager and the key terms of a sub-fund, etc.
      
     Interested companies shall return the completed EOI by email to itif-enquiry@itc.gov.hk on or before March 3, 2025 (Monday). The Innovation, Technology and Industry Bureau will hold a briefing session on the EOI invitation on January 20, 2025 (Monday). For details, please refer to the webpage of the ITIF (www.itc.gov.hk/en/fund_app/itif/index.html).