All eyes on Hong Kong’s Science Park after massive HK$40 billion budget handout
Critics suggest setting up various committees to hold the park accountable on its criteria for handing out funds and called on it to set up key performance indicators and benchmarks to measure its achievements
With Hong Kong’s Science Park in charge of a massive HK$40 billion (US$5.1 billion) slice of the budget funding pie in an attempt to turn the city into an innovation and technology (I&T) hub, questions have arisen as to how it can spend the money wisely, will be able to churn out success stories and also be accountable to a highly sceptical public.
Critics suggested setting up various committees to hold the park accountable on its criteria for handing out funds and called on it to set up key performance indicators (KPI) and benchmarks to measure its achievements.
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Also, HK$10 billion was earmarked for funding world-renowned research institutes or tech enterprises to conduct midstream and downstream research and development projects in the areas of biotechnology, artificial intelligence and robotics technologies in the park.