Hong Kong Cyberport launches blockchain pilot program, each project can receive a funding of 500,000 HKD.

On June 26, Hong Kong Cyberport launched the “Blockchain and Digital Asset Pilot Funding Scheme,” which is now open for applications. This scheme will provide funding support for enterprises at the development stage to test high-impact Blockchain and digital asset solutions. Each eligible pilot project can receive 80% funding, with a maximum funding amount of 500,000 HKD. The funding will be distributed in two phases, with the first phase as the startup funds, and the final phase of funding to be released after the project completes the pilot test and is confirmed by the sponsoring organization. The application period for the scheme ends on August 1.

The plan covers multiple areas, including RWA tokenization, stablecoins and payment solutions, decentralized identity, Web3 security, distributed AI/machine learning (ML), as well as social innovation and digital experience. Enterprises need to have a sizable institution as their sponsor to demonstrate the commercialization potential of their pilot projects. Applicants must be companies or research institutions that are registered and operating in Hong Kong and must meet the relevant application eligibility requirements. The proposal must have a direct connection to recognized Web3 fields and must propose innovative solutions that have not been available in the market, addressing the actual issues faced by relevant institutions in Hong Kong.