Hong Kong to set aside HK$100 million for elderly tech promotion plan

Hong Kong will reserve HK$100 million for an Elderly Technology Promotion Scheme, according to Cheung Man-lai, Under Secretary for Innovation, Technology and Industry, speaking at the Legislative Council. The program is intended to help local innovation and technology companies connect with suitable application scenarios and improve elderly care products and service solutions. Cheung said the scheme is designed to support the commercialization of locally developed research results while raising awareness and usage of gerontechnology among older people, caregivers and the wider public. It is expected to launch in the first half of 2027. She also said Hong Kong’s first five-year plan explicitly calls for deeper integration of industry, academia and research, with a focus on accelerating the conversion of research outcomes into industrial applications. Funding tied to gerontechnology under the Innovation and Technology Fund has already exceeded HK$690 million. At present, around 140 related companies are based in Hong Kong Science Park and Cyberport, covering rehabilitation, physical and mental wellness, and cognitive assistance devices. Science Park will also work with the Hong Kong Housing Society on the "Ageing in Place Living Lab" project and study the creation of a Hong Kong innovation and technology application scenario promotion center.