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Innovation and Technology Fund to Support Software Development
17 January, 03

The Secretary for Commerce, Industry and Technology, Mr Henry Tang, announced today (January 17) that the Government would provide financial assistance to local software companies to obtain certification in Capability Maturity Model (CMM), which is an international quality standard for software development.

Speaking at the topping-out ceremony of Le Meridien in Cyperport, Mr Tang said that to enhance the competitiveness of the software industry in international and Mainland markets, Innovation and Technology Fund had endorsed in principle a $5 million project for a financial assistance scheme. Each software company would receive a maximum grant of $300,000 for obtaining CMM level 2 or above certification.

"Software development is also a crucial element of our creative industries. Through this initiative, we hope to build up a cluster of software companies with world-recognised quality certification in Hong Kong to boost our image as a leading digital city in the region.

"It will also enhance the reputation of Hong Kong's software industry, which will help local IT companies explore Mainland and overseas markets," Mr Tang said.

Noting that the Cyberport had succeeded in building up the first IT cluster which provides a good mix of like-minded companies of varying sizes and at different stages of development, Mr Tang said that Cyberport had great potential as a catalyst for industrial and technological development in Hong Kong.

"To this end, we will first set up a support centre in the Cyberport for small and medium enterprises (SMEs) engaged in the development of contents, applications and services for wireless and mobile communications, leveraging on existing and future networks, such as 3G. We will create a reference library of information on industry trends and standards and, central development and testing facilities.

"Secondly we will set up a Digital Media Centre to provide hardware, software and technical support for industry, particularly SMEs, to spearhead the development of the digital media industry, including electronic games, animation for entertainment, advertising, etc."

"Both initiatives serve to support the development of creative industries in Hong Kong, one of the key initiatives announced in the Chief Executive's 2003 Policy Address," Mr Tang said.

Regarding the development of the Cyberport project, Mr Tang said that 2003 would be an exciting year for Cyberport.

"This year we will see the completion of Phases II and III of the Cyberport, comprising the whole of the Cyberport 3 office building, the shared facilities in the IT Street, the Cybercentre and, of course, Le Meridien Cyberport.

The entire Cyberport project will be completed in mid-2004 when the last office building, Cyberport 4, is completed. We will continue to market the Cyberport aggressively overseas and in the Mainland, through our international leasing agent and SAR Government agencies such as Invest Hong Kong, our various Economic and Trade Offices overseas and the Hong Kong Trade Development Council," he said.