CityU and HKSTP sign Memorandum of Understanding for collaboration on innovation and entrepreneurship programmes in Hong Kong and Greater Bay Area
City University of Hong Kong (CityU) and Hong Kong Science and Technology Parks Corporation (HKSTP) signed a Memorandum of Understanding (MoU) today (11 November) for launching collaborative programmes in Hong Kong and the Greater Bay Area (GBA) and further promoting innovation and entrepreneurship in the region.
In March this year, Professor Way Kuo, CityU’s President and University Distinguished Professor, announced the launch of HK Tech 300, a large-scale flagship innovation and entrepreneurship programme with an allocation of HK$500 million. The initiative has received tremendous support from different stakeholders across society, including HKSTP, which is one of the strategic partners. In the first three rounds of “HK Tech 300 Seed Fund”, a total of 152 start-up teams have been awarded HK$100,000 each, and among them, 62 teams have been admitted to HKSTP’s IDEATION pre-incubation programme.
To strengthen their collaboration, CityU and HKSTP have signed the MoU. HKSTP will provide seed funds and other support for start-up teams selected by both parties through the IDEATION programme and the incubation programme. Investment funding support from both parties will be provided to HK Tech 300 start-up projects. CityU and HKSTP will also collaborate on nurturing talent and further promoting technology transfer, enterprise innovation as well as innovation and technology in the GBA.
The MoU was signed by President Kuo and Mr Albert Wong Hak-Keung, HKSTP’s CEO. It was witnessed by Mr Alfred Sit Wing-hang, Secretary for Innovation and Technology, HKSAR, Dr Sunny Chai Ngai-chiu, Chairman of HKSTP, Mr Lester Garson Huang, Chairman of the Council of CityU, representatives from those 62 start-up teams co-incubated by CityU and HKSTP, and attending guests.
Mr Sit highlighted in his speech how crucial innovation and technology are to social development and reaffirmed the Government’s solid commitment. The coupling of CityU's innovation and HKSTP's R&D base under the MoU today will certainly give an extra boost to our start-ups.
Mr Huang said, “CityU has always been committed to promoting innovation and technology. HK Tech 300 represents a unique opportunity for young people and researchers to pursue their aspirations. We are very grateful for the great support from HKSTP since the launch of the HK Tech 300 programme.”
In his speech, Dr Chai said, “HKSTP is approaching 20 years of leading the development of innovation in Hong Kong. Adhering to our well-developed strategies, we will nurture top talent from HK Tech 300 into future pioneers, and transform their bright ideas into game-changing innovations.”
Before the ceremony, honourable guests visited the showcase for six start-up teams co-incubated by HK Tech 300 and HKSTP. These teams included Albacastor Robotics Limited, Soteria, i2Cool, Super Bamboo Limited, Jotbody (HK) Limited, and Leidenford Limited.
About CityU and HK Tech 300
CityU is a world-class institution ranked among the best universities internationally and is committed to nurturing and developing the talents of students, and creating applicable knowledge to contribute to social and economic advancement. CityU puts particular emphasis on professional education and research, covering different disciplines, namely business, creative media, data science, energy and environment, engineering, humanities and social sciences, law, science and veterinary medicine and life sciences.
With the theme “Venture Beyond Boundaries”, HK Tech 300 is a large-scale flagship innovation and entrepreneurship programme launched by CityU for aspiring entrepreneurs among CityU students, alumni, research staff and others to establish start-ups and ignite their entrepreneurship journey. The allocation of HK$ 500 million entails comprehensive support for entrepreneurship training, a seed fund of HK$100,000, an angel fund of HK$1 million, co-working space and network establishment within the industrial and commercial communities. HK Tech 300 aims to create 300 start-ups in three years, providing educational and growth opportunities for CityU students, and translating CityU research results and intellectual properties into practical applications.
Since its launch in March this year, over 1,000 people have participated in the entrepreneurship training, and a total of 152 start-up teams have each been awarded a seed fund of HK$100,000. The teams focus on five key fields, covering Information and Communications Technology and Artificial Intelligence; Biotech and Health; Deep Tech; EduTech and EnviroTech as well as Business and Fintech.
Applications for the 4th round of “HK Tech 300 Seed Fund” will commence on 29 November, while applications for the Angel Fund will commence on 1 December. For details, please refer to the “HK Tech 300” website: www.cityu.edu.hk/hktech300.
About Hong Kong Science and Technology Parks Corporation
Hong Kong Science and Technology Parks Corporation (HKSTP) has been committed to building up Hong Kong as an international innovation and technology hub for the past 20 years, helping to generate success for local and global pioneers today and tomorrow. HKSTP’s thriving I&T ecosystem is home to three unicorns and Hong Kong’s leading R&D hub with over 11,000 research professionals and over 1,000 technology companies focused on healthtech, AI and robotics, fintech and smart city technologies.
Established in 2001, HKSTP attracts and nurtures talent, accelerates and commercialises innovation and technology for entrepreneurs on their journey of growth in Hong Kong to GBA, Asia, and beyond. Our growing innovation ecosystem is built around key locations in the Hong Kong Science Park in Shatin, InnoCentre in Kowloon Tong, and modern InnoParks in Tai Po, Tseung Kwan O and Yuen Long. These three InnoParks are realising a vision of re-industrialisation for Hong Kong. The target is reimagining sectors like advanced manufacturing, electronics and biotechnology for a new generation of industry.
Through our infrastructure, services, expertise and network of partnerships, HKSTP will help establish innovation and technology as a pillar of growth for Hong Kong, while reinforcing Hong Kong’s international I&T hub status as a launchpad for global growth at the heart of the GBA innovation powerhouse.
More information about HKSTP is available at www.hkstp.org.
Media enquiries:
City University of Hong Kong
- Office of Vice-President (Research and Technology)
Ms Lee Pik-kwan
Tel: +852 3442 8925 / 9210 3513
Email: pikklee@cityu.edu.hk - Communications and Public Relations Office
Ms Helen Mok
Tel: +852 3442 6827 / 9859 3321
Email: mok.helen@cityu.edu.hk
Hong Kong Science and Technology Parks Corporation
- Hong Kong Science and Technology Parks Corporation
Ms Nelly So
Tel: +852 2629 2309
Email: Nelly.So@hkstp.org - Edelman Public Relations
Ms Claudia Yau
Tel: +852 2837 4769
Email: Claudia.Yau@edelman.com / Edelmanhkstppr@edelman.com