CUHK welcomes 2022-23 Budget Speech’s initiatives in promoting innovation and cultivating talent
The Chinese University of Hong Kong (CUHK) welcomes and supports the initiatives and further investment contributing to local universities’ innovative research, entrepreneurship and talent attraction as proposed in the 2022-23 Budget Speech.
InnoHK is a major contribution to Hong Kong’s innovation agenda. CUHK is delighted that the Budget proposes the establishment of an InnoLife Healthtech Hub in the Hong Kong-Shenzhen Innovation and Technology Park and sets aside HK$10 billion for its development. These measures will provide more comprehensive support to Hong Kong’s life and health scientific research work. CUHK and its research teams will continue to strive for scientific research excellence and take full advantage of its world-class research capability. There are currently 6 CUHK-led InnoHK Centres. These centres will continue to apply CUHK’s world-class research discoveries to generate a translational impact on a local, national and global scale.
CUHK is most grateful to the Government for doubling the size of the Technology Start‑up Support Scheme for Universities (TSSSU) subsidy to HK$16 million for each university. This will help foster innovation and knowledge transfer at the university level and encourage an entrepreneurial spirit. Since 2014, CUHK has supported more than 170 start-up companies/projects and some of them have grown into successful businesses. To date, 4 start-up companies associated with CUHK have become unicorns or quasi-unicorns. CUHK believes that with its experience and strength in cultivating outstanding technology start-ups, more successful cases can be expected.
Talent attraction and development
The extra funding for State Key Laboratories by the Innovation and Technology Fund will allow CUHK’s scholars to launch more innovative and world-leading R&D activities to cultivate talent and bring a positive impact to Hong Kong and the country. An additional HK$10 billion will be earmarked for building and upgrading healthcare teaching facilities, allowing the University to educate more medical professionals to meet societal needs.
CUHK has spared no effort in carrying out cutting-edge scientific research, cultivating talented people and contributing to society. Research innovation and talent cultivation are key priorities of CUHK’s 5-year strategic plan. The related proposals in the Budget will help enhance teaching and research quality of Hong Kong’s institutions and further drive the city’s innovation and technology development.