New Industrialisation Acceleration Scheme (NIAS)

Objective

Launched in September 2024, the New Industrialisation Acceleration Scheme (NIAS) aims to provide funding support for enterprises engaging in industries of strategic importance (i.e. life and health technology, artificial intelligence (AI) and data science, and advanced manufacturing and new energy technologies) to set up new smart production facilities in Hong Kong.

Eligibility

Applicants must fulfil the following requirements:

incorporated in Hong Kong under the Companies Ordinance (Cap. 622);
not a government subvented organisation or subsidiary of subvented organisations;
commit an investment of no less than $200 million of funding that is within the approved funding scope in the setting up of new smart production facilities in Hong Kong in the three designated technology areas (i.e. life and health technology, AI and data science, and advanced manufacturing and new energy technologies) (i.e. for each project, the minimum total project cost is $300 million and the enterprise has to contribute no less than $200 million); and
the smart production facilities in (c) above shall involve high-end and advanced technology.

Key Features

Matching basis: Funding will be provided on a 1 (Government) : 2 (enterprise) matching basis.
Funding principles and amount: For each project, the minimum total project cost is $300 million. The enterprise has to contribute no less than $200 million and the Government will cover a maximum of one-third of the total approved project cost or $200 million, whichever is lower. Each enterprise may have a maximum of two projects approved, receiving up to $200 million in total.
Funding scope: Expenses directly related to the establishment of the new smart production facilities in Hong Kong, as well as specialised facilities and associated auxiliary equipment that are necessary for the operation of the smart production facilities.
Project duration: Normally within 36 months.

Application

The NIAS invites applications for funding all year round. Applications shall be submitted electronically through the Innovation and Technology Commission Funding Administrative System (ITCFAS) together with all necessary documents.

Please read the following documents before submitting an application:

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Assessment

ITC will conduct an initial assessment of the applications and submit the funding recommendations to the New Industrialisation Vetting Committee (the Committee) for consideration. Applications supported by the Committee will be submitted to the Commissioner for Innovation and Technology for funding approval.

Frequently Asked Questions

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What are the elements that the production facilities shall have in order to be considered as "smart production facilities"?

The entire production facilities or a significant portion of the production facilities shall fulfil the "smart manufacturing" criteria, i.e. the integrated and intelligent use of smart technologies such as Internet of Things, real-time data acquisition, application of data analytics and advanced human-machine interfaces, AI/machine learning/deep learning, automation and robotics, sustainable technology, sensors and actuators in the production process.

What are the vetting criteria?

Applications would be vetted based on their individual merits. The major vetting criteria and weightings include –

Setting up of new smart production facility and adoption of smart technologies (15%);
Reasonableness of budget and business viability (20%);
Implementation viability (15%);
Technical, financial and management capabilities (15%); and
Social and/or economic benefits (35%).

Can the production facilities funded under the NIAS be transferred to other parties or to any place outside Hong Kong after project completion?

To ensure that the funded projects can bring substantive economic benefits to Hong Kong for a reasonable period, unless with prior written approval from the Government, the production facilities funded under the NIAS shall not be transferred to other parties or to any place outside Hong Kong within five years after project completion. The funding agreement to be signed by the applicant with the Government shall set out the above restriction and that the Government has the right to recoup the funding disbursed in whole or in part in case of non-compliance. The applicant is required to create a legal charge in respect of the relevant production facilities in favour of the Government, and the Government is to register such a charge with the Companies Registry.

Others

To encourage enterprises under the NIAS to carry out or increase their scale of research and development in Hong Kong, a new stream under the Research Talent Hub (i.e. RTH-NIAS) has been established. In addition to the quotas of engaging four research talents under the existing RTH, enterprises with projects approved under the NIAS can engage an additional 36 talents for a total engagement period of three years on a 1 (Government): 1 (enterprise) matching basis. More details are available at the RTH-NIAS webpage.

Besides, a separate category under the Technology Talent Admission Scheme (i.e. TechTAS-NIAS) has also been established to allow enterprises under the NIAS to employ non-local technical personnel who possess the required skills/know-how and relevant experience in setting up and operating new production facilities to work in Hong Kong. The enterprises concerned may apply for up to five TechTAS-NIAS quotas, which will be valid for two years. The above arrangement will be on a pilot basis for three years. More details are available at the TechTAS-NIAS webpage.

ENQUIRY

Tel: (852) 3655 5678
Fax: (852) 2199 7004
Email: nias@itc.gov.hk