All of the awardees found out the news as part of Olympic Day celebrations in the territory.

Each athlete will receive HK$162,000 (£16,000/$21,000/€18,000) up until August 31 of next year which will be paid by the Shun Hing Group.

Shun Hing are the Hong Kong distributors for technology giants Panasonic, who are a member of the International Olympic Committee's TOP sponsorship programme.

Recipients include badminton player Ng Ka Long, who competed at Rio 2016 and who has been as high as number six in the world.

He is a former world junior champion in doubles.

Swimmer Siobhan Haughey also featured at Rio 2016 and boasts two Universiade titles from Taipei 2017 and three Asian Games bronze medals from Incheon 2014.

Other athletes to benefit are race walker Siu Nga Ching, épée fencer Kaylin Sin Yan Hsieh and gymnast Wai Hung Shek.

Karate's Mo Sheung Grace Lau will cash in with the sport making its Olympic debut at Tokyo 2020, while rower Chi Fung Chan and shooter Ho Ching Shing have also been named.

Table tennis player Wai Yim Minnie Soo and triathlete Oscar Coggins complete the list.

"The scholarship will assist athletes to better prepare and strive for the best results in the qualifying competition and possibly in the Tokyo 2020 Olympic Games by providing financial support towards specialised coaching service, the cost of their local/overseas training, medical assistance and other items that will assist the athletes," the SF&OC said.

"Once again, the Federation would like to express our heartfelt thanks to the Shun Hing Group for their generous contribution over the years towards Hong Kong sports development."