Hong Kong Launches Blockchain and Digital Asset Pilot Funding Program

According to Foresight News, Hong Kong's Cyberport has introduced the 'Blockchain and Digital Asset Pilot Funding Program,' which is now open for applications. The initiative aims to provide financial support to companies in the development phase to test impactful blockchain and digital asset solutions. Eligible pilot projects can receive up to 80% funding, with a maximum grant of HKD 500,000. The funding will be distributed in two phases: an initial startup fund and a final grant upon completion of pilot testing and confirmation by sponsoring institutions. The application deadline is August 1.The program covers various sectors, including RWA tokenization, stablecoins and payment solutions, decentralized identity, Web3 security, distributed AI/machine learning (ML), and social innovation and digital experiences. Companies must have a sizable institution as their sponsor, demonstrating the commercial potential of their pilot projects. Applicants must be companies or research institutions registered and operating in Hong Kong, meeting the relevant eligibility criteria. The solutions must be directly related to recognized Web3 fields and address real issues faced by Hong Kong institutions, offering innovative and market-unique solutions.