Hong Kong PITAS Performance Milestones: Scope, Funding and Milestones

Overview of PITAS

The Pilot Innovation and Technology Accelerator Scheme (PITAS) is part of the Innovation and Technology Fund in Hong Kong. It aims to attract I&T accelerators with proven track records both in and beyond Hong Kong to set up accelerator bases in the city. Through their business networks and experience, these accelerators support the development and needs of I&T start-ups in a more comprehensive and targeted manner.

Operational Requirements

Accelerators selected under PITAS must establish operational bases in Hong Kong. Each base must employ at least three full-time staff members to implement the scheme. These bases are also required to provide value-added services to start-ups, which may include venue and facilities, R&D support, mentorship, domain expert consultation, and business networking.

Funding Approval Process

Applications for PITAS are reviewed by an Assessment Committee. If supported, they are submitted to the Commissioner for Innovation and Technology for approval of funding.