Hong Kong will launch a Green Accelerator on September 7 to help turn green technologies into investment-ready projects and attract private capital, Financial Secretary for Financial Services and the Treasury Christopher Hui said. The initiative is intended to address a shortage of projects ready for investment through pre-finance support and project structuring.
Hui said the accelerator would channel private capital towards climate solutions while creating opportunities for Hong Kong’s professional-services sector. He said it could also support green development and climate-resilience financing in Belt and Road economies, with Hong Kong acting as a facilitator, connector and partner.
He added that Hong Kong uses its capital markets and professional expertise to structure bankable projects and reduce investment risks for green investment and sustainable infrastructure development.
Separately, Hong Kong Science Park held the first six-day Co-creation Co-investment Industry Accelerator Summit on September 7 and announced the first investments from its Co-creation Co-investment Industry Accelerator Fund. The investments support four technology startups, including projects involving hydrogen energy and static thermoelectric conversion technology.
Financial Secretary Paul Chan said the government was building a capital ecosystem for startups. He also said the Hong Kong Stock Exchange was reviewing its listing rules to better meet the needs of innovative companies.
Chan said Hong Kong and the Greater Bay Area could complement each other, with Hong Kong contributing international finance and global talent while cities in the region provide strengths in advanced manufacturing, commercialisation and scaling.
The reports describe different objectives and do not establish whether the Green Accelerator is formally linked to the Science Park’s fund. Details still to be set out include the Green Accelerator’s funding size, eligibility criteria and participating institutions, as well as the names and investment amounts of the four startup recipients.