IT sector loses out in race to secure government funding
The Hong Kong information technology (IT) sector has lost out so far this year in the race for project funding by the government's Industrial Support Fund.
Of 20 submissions by the sector, only one project - by the Hong Kong Productivity Council - was approved for backing by the Industry and Technology Development Council (ITDC).
The venture, named Software Quality Assurance Model for Hong Kong, was allotted $4.1 million.
The model will develop a set of procedures, forms and tools intended to improve overall software development processes and thus create better quality products.
Of the 41 projects approved recently, 18 are related to biotechnology, seven are in textiles and clothing, six in the metals sector, three in electronics, one in IT, and two each in the plastics sector and general category.
Classified by organisation, 19 are from higher educational institutions, 13 from industrial support bodies, six from trade and industrial bodies, two from research institutes and one from the Industry Department.
The Industrial Support Fund, established in 1994, supports projects which contribute to local industrial and technological development and the competitiveness of manufacturing industries.
