Hong Kong rushes $500m scheme to attract foreign tech talent

Attracting the top tech talent is key as Hong Kong rolls out its smart city vision.

Hong Kong is planning to fast-track the launch of the $500m Technology Talent Scheme which will admit the top tech talent from overseas markets and the Mainland as it recognises that attracting top talent is crucial to its smart city vision. 

“Talent is essential to that future. Simply put, we need all the smart, tech-savvy people we can get if we are to create a smart city for the world,” said Chief Executive Carrie Lam who spoke at the Smart City Blueprint Luncheon on February 7. 

According to a press release, the scheme will include a postdoctoral hub which will lend funding to companies looking to recruit postdoctoral talent for scientific research and product
development activities. 

Lam also noted the importance of fostering local tech talent as it earmarks over $3b in scholarship for research programmes. 

“At last count, we had about 50,000 students in science, technology, engineering and mathematics (STEM) studies. That number has to grow. To that end, we will provide scholarships worth HK$3 billion to encourage local students to take part in research postgraduate programmes. And we will continue to promote STEM education at the primary and secondary school levels, as well as the community at large,” Lam said. 

Lam also said that Hong Kong is continuously working to attract universities, R&D institutes and tech enterprises to collaborate with local educational institutions for various research projects.