The Pulse：Interview with Secretary for Innovation & Technology, Startmeup HK Festival

Innovation Technology. Apparently it’s the latest thing in Hong Kong. The Chief Executive spent three years pushing to set up the Innovation and Technology Bureau..
Now that he’s succeeded, he immediately earmarked plenty of government funds to support it. While some welcome this financing, others say that technological innovation is about more than money and that the government still isn’t developing policies to nurture talent or to provide an environment that encourages the development of these technologies. In part two, we’ll be talking to the new Secretary for Innovation and Technology Nicholas Yang. But to start up this week: start-ups. As part of the financial support for Innovation and Technology the Chief Executive is creating a HK$2 billion Innovation and Technology Venture Fund to encourage private capital to support start-ups by providing matching cash. Another HK$2 billion has been set aside for the bureau to support universities carrying out applied research projects. Then there’s another HK$200 million for a fund for communication technology start-ups in Cyberport. And there’s another HK$500 million for an Innovation and Technology Fund for Better Living
The government’s also been spending money on a week-long Startmeup Festival, but if you’re not one of the favoured few, don’t expect an invite. It’s not open to the public.
In part one we talked about some of the challenges start-ups face. But how does Hong Kong cope with already successful and innovative companies? The government invited technology companies like Uber and Tesla Motors to come and invest in Hong Kong, but since they got here they haven’t exactly been finding a welcome. The new Secretary for Innovation and Technology, Nicholas Yang has told the world that he met Steve Jobs, he really did. Well this week, he also really met me the other lesser known Steve and The Pulse team.