Hong Kong has long been recognized as a free-market economy with minimal government intervention, but that does not mean entrepreneurs and investors are left without support. The Hong Kong government has developed a meaningful set of investment incentives, funding schemes, and opportunity programs designed to attract talent, capital, and innovation to the city. If you are an entrepreneur, startup founder, or foreign investor considering Hong Kong, understanding these programs can dramatically reduce your startup costs and accelerate your path to profitability.
Innovation and Technology Fund (I&T Fund)
The Innovation and Technology Fund (ITF) is the Hong Kong government’s flagship funding vehicle for technology companies. Administered by the Innovation and Technology Commission (ITC), the ITF has disbursed billions of HKD to support R&D projects, technology adoption, and product commercialization. The fund covers a wide range of industries including biotech, fintech, smart manufacturing, AI, and green technology.
Under the ITF umbrella, the Enterprise Support Scheme (ESS) provides up to HKD 10 million per project for companies conducting in-house R&D, with the government covering up to two-thirds of eligible costs. The Technology Voucher Programme (TVP) offers SMEs up to HKD 600,000 in vouchers (in four cumulative tranches) to fund the adoption of technological solutions that improve productivity or upgrade or transform business processes. This is one of the most accessible and widely used programs for SMEs in Hong Kong.
Re-industrialisation Funding Scheme
Launched under the broader Re-industrialisation initiative, the Re-industrialisation Funding Scheme (RFS) provides subsidies for companies setting up smart production lines in Hong Kong. The government co-funds up to one-third of the total project cost, with a maximum grant of HKD 15 million per project. The scheme is designed to encourage companies to locate advanced manufacturing operations in Hong Kong, particularly in high-value sectors like electronics, pharmaceuticals, and precision engineering.
The RFS is part of a larger government push to position Hong Kong as a high-value manufacturing hub rather than a pure services economy. Companies that have successfully used this scheme have set up automated production lines, robotic assembly systems, and AI-powered quality control processes. For investors in advanced manufacturing, the RFS combined with Hong Kong’s low corporate tax rate creates a compelling financial case for onshoring production.
Cyberport Incubation Programme
Cyberport is Hong Kong’s digital technology flagship, housing over 2,000 digital tech companies and serving as the city’s primary fintech ecosystem hub. The Cyberport Incubation Programme (CIP) provides accepted startups with up to HKD 500,000 in funding, access to co-working space within Cyberport, mentorship from industry veterans, and introductions to investors and corporate partners.
The program runs for 24 months and is particularly focused on fintech, AI, blockchain, and data analytics companies. Cyberport’s location in Pok Fu Lam provides a campus-like environment that fosters collaboration, and its annual Cyberport Venture Capital Forum is one of the premier startup fundraising events in the region. For early-stage companies, the combination of non-dilutive funding, workspace, and network access makes Cyberport one of the best soft-landing options for international founders entering Hong Kong.
Science Park INCU-Tech Programme
The Hong Kong Science and Technology Parks Corporation (HKSTP) operates the INCU-Tech programme at the Hong Kong Science Park in Pak Shek Kok, Sha Tin. This incubation program is designed for deep-tech startups working in areas such as materials science, robotics, medtech, clean energy, and advanced engineering. Accepted companies receive up to HKD 1.5 million in non-dilutive funding, subsidized laboratory space, access to shared equipment facilities worth billions of HKD, and connections to multinational corporate partners.
The Science Park’s proximity to the Chinese University of Hong Kong and Hong Kong University of Science and Technology provides access to world-class research talent. HKSTP also runs the InnoHK research cluster, which hosts over 28 research centers funded jointly by the government and international universities. For deep-tech investors, InnoHK represents one of the richest sources of commercializable IP in Asia.
Entrepreneurs exploring the broader Hong Kong business landscape will find additional context on available financial support in our guide to small business funding in Hong Kong.
Greater Bay Area (GBA) Investment Incentives
The Guangdong-Hong Kong-Macao Greater Bay Area initiative creates a unified economic zone that links Hong Kong with nine mainland cities including Shenzhen, Guangzhou, Foshan, Zhuhai, and Dongguan. The combined population of over 86 million and GDP exceeding USD 2 trillion makes the GBA one of the largest economic zones in the world.
For Hong Kong-based businesses, the GBA offers specific incentives including the preferential corporate tax rate of 15% (versus the standard 25% mainland rate) for qualified enterprises operating in the Qianhai, Nansha, and Hengqin cooperation zones. Hong Kong professional services firms in law, accounting, architecture, and medicine can now apply for cross-boundary practice qualifications, opening up the massive mainland market to their services. The Guangdong-Hong Kong-Macao Greater Bay Area Youth Employment Scheme provides subsidies to Hong Kong employers who hire graduates to work in GBA cities, reducing labor costs for companies expanding northward.
Capital Investment Entrant Scheme (CIES)
Relaunched in March 2024 after a decade-long hiatus, the Capital Investment Entrant Scheme (CIES) allows investors who make qualifying investments of HKD 30 million in Hong Kong assets to apply for Hong Kong residency. Eligible investment assets include equities, bonds, certificates of deposit, and eligible collective investment schemes listed or traded in Hong Kong. Real estate is explicitly excluded from the qualifying asset classes, directing investment into financial markets.
The scheme has attracted significant interest from high-net-worth individuals from Southeast Asia, the Middle East, and mainland China seeking Hong Kong permanent residency through an investment pathway. For business owners, the CIES provides a clear route to establishing personal residency alongside a business presence, simplifying long-term planning. The scheme is administered by Invest Hong Kong and applications are processed through the Immigration Department.
InvestHK: Your Entry Point for Foreign Investment
Invest Hong Kong (InvestHK) is the government department responsible for attracting foreign direct investment. They provide free advisory services to companies considering establishing or expanding in Hong Kong, including market intelligence, business matching, site visit coordination, and introductions to relevant government departments. InvestHK also operates the StartmeupHK programme, which hosts one of Asia’s largest startup festivals and provides year-round support services to international entrepreneurs.
Whether you are a startup applying for Cyberport or a multinational evaluating a regional headquarters, InvestHK can help you navigate the incentive landscape and connect with the right programs. Their sector specialists cover fintech, maritime, asset management, legal, innovation and technology, and more.
Understanding the tax environment is equally important when evaluating investment incentives. For a comprehensive overview, see our guide to tax and financial services in Hong Kong.
Making the Most of Hong Kong’s Incentive Ecosystem
Hong Kong’s investment incentive landscape rewards proactive entrepreneurs who take the time to understand what is available. The TVP technology voucher, Cyberport incubation, and HKSTP programs are accessible to companies at various stages, from pre-revenue startups to established enterprises. The GBA expansion incentives and CIES provide pathways for scaling capital and talent. The key is to align your business model with the right program and engage with the relevant government bodies early in your planning process.
Ready to unlock opportunities in one of Asia’s most dynamic business environments? Join Hustler’s Library for free and access the full suite of guides, checklists, and resources that serious entrepreneurs use to get established and grow in Hong Kong.
For a full overview of doing business in Hong Kong, see our complete guide to doing business in Hong Kong.
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