A cooling paint for buildings to increase the efficiency of air conditioners and an app which allows people to pay gym fees on a minute-by-minute-basis are among innovative projects approved under a HK$500 million (US$64.3 million) scheme to support entrepreneurship among young people in Hong Kong. HK Tech 300, one of the largest funding programmes at City University, has so far selected 65 start-up teams formed by students and alumni at the university in the first two rounds of the selection process. Each team will receive HK$100,000 worth of seed funding. The scheme, which was launched in March, covers fields…