Cyberport: 9 companies have been shortlisted for the Blockchain and Digital Asset Pilot Funding Program

The Zhitong Finance App learned that Li Yizheng, director of blockchain and digital assets at Hong Kong Cyberport, said that the popularity of applications for the first “Blockchain and Digital Asset Pilot Funding Program” has exceeded expectations and has received more than 200 applications, covering various fields such as RWA tokenization, stablecoins and payment solutions, Web 3.0 security and risk management. Currently, 9 companies have been shortlisted, namely 5 companies in the RWA field, 1 in the payment field, 2 in the security field, and 1 in the smart lifestyle field.

She said that at present, the pilot tasks have basically been completed and have entered the final stage of acceptance. Nearly half of the pilot products and services have been successfully implemented or are about to be launched, and the first phase involves more than HK$120 million in assets.

According to information, the “Blockchain and Digital Asset Pilot Funding Program” launched by Cyberport aims to fund blockchain and Web 3.0 projects that have the potential to become industry standards, provide funding of up to HK$500,000 (up to 80% funding), support enterprises to test innovative solutions such as RWA tokenization and stablecoins in a real environment, promote the implementation of technology applications and attract sponsorship from large institutions.

As a bridge between startups and large institutions, the program provides testing opportunities for the industry, helps implement innovative applications, and promotes the overall upgrading of the industry. Currently, Cyberport has gathered more than 300 blockchain and digital asset-related companies.

Li Yizheng said that the Cyberport Investor Network brings together more than 220 investment institutions, covering venture capital funds, family offices, private equity funds, etc., and cooperates with multiple blockchain underlying agreements to build a complete industrial ecosystem.

Regarding the second phase of the plan, she said that due to the good results of the first phase of the pilot, she hopes to continue to launch the second phase of the plan to provide more support to the market. Currently, the relevant plans are still in progress, and there is no clear time for implementation.

In the future, Cyberport will continue to cooperate with the development strategies of the national and SAR government, work with the industry and regulators to provide comprehensive support to blockchain and digital asset enterprises through various plans and support projects, continue to host exchange events, promote industrial development, cultivate professionals, raise public awareness of blockchain and digital assets, and accelerate the construction of Hong Kong's industrial ecosystem.