币界网报道：Hong Kong has launched a HK$500,000 (approximately $64,000) pilot funding initiative to support local Web3 and blockchain development projects. The program, announced by the Hong Kong government, aims to foster innovation and attract startups in the decentralized technology sector. Selected projects will receive financial backing and access to mentorship, networking opportunities, and regulatory guidance. This move aligns with Hong Kong's broader strategy to position itself as a global hub for digital assets and blockchain innovation. Officials emphasized the city's commitment to creating a supportive ecosystem for emerging technologies while ensuring compliance with financial regulations. The initiative is part of Hong Kong's push to revitalize its tech industry and compete with other leading blockchain hubs like Singapore and Switzerland. Applications for the funding are now open to eligible startups and developers.