Incubation Programme

(a) The Applicant must be a HKSAR registered and incorporated technology start-up company limited by shares under the Companies Ordinance. (b) The Applicant’s date of incorporation should be no more than five (5) years for all Applicants (c) The founder(s) of the Applicant must - have not currently or previously joined the Incubation Programme offered by either HKSTPC or Cyberport Management Company Limited; or - have only joined either one of these Programmes for one time only in the past. In other words, the present application is the founder’s second attempt to join this Programme. (d) The Applicant’s activities must be related to technology such as Electronics, Information & Communications Technology, Material and Precision Engineering or Green Technology. (e) The Applicant is committed to comply with the following requirement throughout the Programme: - The founders of the Applicant collectively (legally and beneficially) must hold at least 51% of the company shares at the time of submission and throughout the Programme Period2. Such founders can be individual shareholders, non-operating holding companies (as reflected by the Articles of Association or any other valid supporting documents of such companies) or operating holding companies which fulfills this admission criterion and admission criterion point (a) – (c). - At least two full-time staff in the company and all staff must be lawfully employable in Hong Kong3. - At least 50% of full time staff must be engaged in R&D work and based in Hong Kong Science Park. - The Applicant should not join the Incubation Programme operated by HKSTPC or Cyberport Management Company Limited concurrently. - The Applicant must engage in R&D activities in the Incubation Centre and/or the Approved Centres, pure sales and marketing office is not permitted. No retail or mass production activities is allowed at the premises. (f) The team of full-time engineers and technologists of the Applicant must, individually or collectively, (legally and beneficially) own at least 10% of the company shares. If the Applicant has technology from licenser such as a university or research institute with due approval, any shares of the Applicant held by its founding university professor(s) or founding technology inventor(s) who invented the technology, disregarding his/her full or part-time status, shall count towards the aforesaid 10% share ownership requirement unless HKSTPC determines otherwise.