Gov’t opens application for Innovation & Technology Industry-Oriented Fund

The invitation outlines the preliminary proposed ITIF framework.

The Innovation, Technology & Industry Bureau and the Innovation & Technology Commission invited the market to submit expressions of interest (EOI) for the Innovation & Technology Industry-Oriented Fund (ITIF).

The invitation presents the initial ITIF framework and invites market feedback on aspects such as the required capital commitment from strategic investors, fund manager eligibility criteria, and key terms of a sub-fund.

The Innovation, Technology & Industry Bureau will hold a briefing session on the EOI invitation on 20 January.

Interested companies shall return the completed EOI by email to [email protected] on or before 3 March.

The Chief Executive announced in the 2024 Policy Address to set up a $10b ITIF to channel more market capital to invest in specified emerging and future industries of strategic importance and systematically build the innovation and technology ecosystem.