CityU launches HK Tech 300 to establish 300 start-ups with HK$500m
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City University of Hong Kong (CityU) announced on 23 March the launch of a large-scale flagship innovation and entrepreneurship programme, HK Tech 300. With the theme of “Venture Beyond Boundaries” and an allocation of HK$500 million, the Programme aims to establish 300 start-ups championed by CityU students in three years, and establish the largest university-based entrepreneurship programme in Asia.
Focusing on its core mission, CityU promotes the integration of research and teaching. One of the fastest-growing universities in the world, CityU was ranked top in Hong Kong in Citations per Faculty in the QS World University Ranking averaged over a 5-year period from 2017 to 2021. According to the latest report from Stanford, over 140 CityU faculty members are listed among the top 2% of the world's most highly cited scientists. By faculty size, CityU has one of the highest percentages of leading scholars in Asia. CityU also actively advocates knowledge transfer and commercialisation, and ranked first among local universities in granted U.S. Patents from 2016 to 2019.
A launch ceremony held on 23 March at CityU was attended by officiating guests Mr Alfred Sit Wing-hang, Secretary for Innovation and Technology; Dr Sunny Chai Ngai-chiu, Chairman of Hong Kong Science and Technology Parks Corporation (Science Parks); Dr Lee George Lam, Chairman of Hong Kong Cyberport Management Company Limited (Cyberport); Dr Daniel Yip Chung-yin, Chairman of Federation of Hong Kong Industries (FHKI); Dr Allen Shi Lop-tak, President of The Chinese Manufacturers' Association of Hong Kong (CMA), Mr Lester Garson Huang, Chairman of the CityU Council; and President Way Kuo of CityU.
“A vibrant start-up environment plays a pivotal role in driving innovation and technology development in Hong Kong. The Government welcomes and appreciates CityU in launching this programme, which for sure will encourage more young entrepreneurs to establish technology start-ups,” said Mr Sit.
In his welcome address at the ceremony, Mr Huang remarked that the ethos of HK Tech 300 was firmly embedded in CityU’s vision of nurturing talent and developing a knowledge-based society. “This programme will enable our youth to strengthen their innovation and entrepreneurship skills, and prepare them to meet the challenges of the future.” he said.
“Under the mentorship of our world-class faculty and with the support of our partners and the community, HK Tech 300 will become the No. 1 university-based entrepreneurship programme in Asia and help our students ‘venture beyond boundaries’ to realise their dreams”, said President Kuo.
HK Tech 300 will provide training and mentorship, as well as seed funding, to assist student teams to incubate innovative ideas into start-ups. In addition, co-working space, angel investment and related support will be made available through a comprehensive network established among the commercial and industrial communities to grow the start-ups into successful tech ventures.
CityU’s students, alumni and research staff, and members of the public wishing to leverage the University’s intellectual properties to set up start-ups in Hong Kong are welcome to join the Programme. HK Tech 300’s strategic partners include the Innovation and Technology Commission, InvestHK, Science Parks, Cyberport, The Hong Kong General Chamber of Commerce, the Chinese General Chamber of Commerce, FHKI and CMA. More than 20 other organisations, including venture capital funds, tech industry associations, and accelerator programmes, have joined the Programme as supporting organisations.