Fast-track scheme for tech talent

Under the Technology Talent Admission Scheme (TechTAS) announced last week , work visas for international inno-tech talents will take just two weeks to process.
The three-year pilot scheme, which starts next month, will first apply to incubation firms and tenants of the Hong Kong Science and Technology Parks Corporation (HKSTP) and Cyberport engaged in biotechnology, artificial intelligence, cybersecurity, robotics, data analysis, financial technology and materials science.
Aiming to attract worldwide talents in the seven fields, the scheme is expected to bring Hong Kong a maximum of 1,000 qualified professionals in the first year.
Companies or institutes are entitled to hire non-local talents on a quota basis; numbers vary between firms.
The Innovation and Technology Commission, which sets quotas for each company and institute, will process the quota request within two weeks. It will then give no more than 100 quotas to one company annually. 
Skilled people sought under the scheme should be clearly in short supply or not readily available in Hong Kong. Recruits must be degree holders in science, technology, engineering or mathematics from well-recognized universities, for example, one which is placed in the top 100 of any major world university ranking scheme.
Their Hong Kong work visa processing time will be cut from four weeks to two.
To guarantee local employment and nurture skilled people in Hong Kong, the scheme requires applicant companies to employ one new local full-time employee plus two local interns in technology-related work for every three non-local people admitted.
A one-year contract needs to be provided to the local full-time employee; a three-month contract will be needed for a local intern. 
Secretary for Innovation and Technology Nicholas Yang Wei-hsiung said the shortage of skilled staff in the seven areas covered by the scheme was a global issue. The scheme would therefore give Hong Kong an edge in finding such skilled people. 
The city’s science chief said he believed the scheme would see a relatively average ratio in terms of where the talents come from, considering the diversity of innovation and technology companies in the Hong Kong Science and Technology Parks and Cyberport.
Permanent Secretary for Innovation and Technology Cheuk Wing-hing said the faster administrative process was a positive aspect of the scheme. This would speed up more as the arrangement matures. 
He said the government would review the pilot scheme after six to nine months. This includes expanding it to companies outside HKSTP or Cyberport. 
Currently, there are three talent admission schemes, including the General Employment Policy (GEP), the Admission Scheme for Mainland Talents and Professionals (ASMTP) and the Quality Migrant Admission Scheme. The normal processing time under the GEP and the ASMTP is about four weeks.
According to official data, 23,471 applications have been approved under the ASMTP from April 1, 2016 to March 31 this year. Only 3 percent of applicants were recruited by biotechnology and information technology employers.