HK’s high-tech products need more funding

Apart from constant backing from the government and universities, more investment from the private sector is needed to facilitate the manufacturing of Hong Kong's high-tech anti-epidemic products, say experts.

The latest products include a customized logistics system for the city's first universal communal testing program for COVID-19, which ended last week, and smart wristbands used by those under quarantine — both designed and created by the government-funded Logistics and Supply Chain Multi-Tech R&D Centre.

"Without the funding, our staff commitment, as well as research and development work in the past few years, we couldn't have designed the smart wristband, optimized it and come up with such a complete logistics and sample tracing system within such a short time," said Simon Wong, chief executive officer of LSCM, which was set up in 2006.

It took the center one day to design the electronic wristbands and two weeks to put the smart logistics arrangement in place.

Wong said the public health crisis has created opportunities for the science-technology sector and only technology "can help the world solve the problems".

He said some European, Middle Eastern and Southeast Asian countries have shown interest in the design of the Hong Kong products and have used them to monitor people being quarantined.

Chan Ching-chuen — Hong Kong's first academician at the Beijing-based Chinese Academy of Engineering — noted that private companies have shown scant interest in the SAR's research and development institutions despite the city's ability to create technology products that meet market needs.

The Innovation and Technology Bureau said in 2017 Hong Kong's R&D expenditure accounted for just 0.73 percent of the city's Gross Domestic Product, with public investment hitting 55 percent and the private sector 45 percent.

In other developed economies, private-sector R&D investment exceeds that of the government. In Singapore, for instance, the public-private sector investment ratio for research and development is 39:61.

Besides government financial support, Chan urged Hong Kong's large conglomerates to take the lead in lifting the sci-tech industry and invest in R&D to promote inno-tech development.

He believes small-and medium-sized companies in Hong Kong will follow suit after major enterprises have got the ball rolling.

With increased funding and cooperation with enterprises, Chan said the innovation and technology field will change completely, giving young people more career choices.