• About
  • Advertise
  • Testimonials
  • Contact
Wednesday, 11 December, 2019
No Result
View All Result
OpenGov Asia
SUBSCRIBE
  • Academy
  • Channels
    • Augmented Intelligence
    • Big Data
    • Cloud
    • Cyber Resilience
    • Digital Economy
    • Digital Transformation
    • Education
    • FSI Fintech
    • Healthcare
    • IoT
    • Mobility
    • Open Data
    • Public Safety
    • Smart Cities
    • All
  • Countries
    • Australia
    • China
    • Hong Kong
    • India
    • Indonesia
    • Malaysia
    • New Zealand
    • Philippines
    • Singapore
    • Taiwan
    • Thailand
    • Vietnam
    • Global
  • Events
    • Upcoming Events
    • Past Events
  • Expert Opinions
  • Awards
  • White Papers
  • Academy
  • Channels
    • Augmented Intelligence
    • Big Data
    • Cloud
    • Cyber Resilience
    • Digital Economy
    • Digital Transformation
    • Education
    • FSI Fintech
    • Healthcare
    • IoT
    • Mobility
    • Open Data
    • Public Safety
    • Smart Cities
    • All
  • Countries
    • Australia
    • China
    • Hong Kong
    • India
    • Indonesia
    • Malaysia
    • New Zealand
    • Philippines
    • Singapore
    • Taiwan
    • Thailand
    • Vietnam
    • Global
  • Events
    • Upcoming Events
    • Past Events
  • Expert Opinions
  • Awards
  • White Papers
No Result
View All Result
OpenGov Asia
No Result
View All Result
Home Digital Economy

HKSTP to Continue Sustaining Growth of the I&T Sector in HK

The Park announced new initiatives to support HK-based R&D operations of high-potential tech firms.

by Alita Sharon
13 November, 2019
in Digital Economy, Digital Transformation, Hong Kong, News
Hong Kong Science and Technology Parks Corporation

Image Credits: HKSTP, Press Release

9
SHARES
44
VIEWS
Share on LinkedInShare on Twitter

To sustain the growth momentum of Hong Kong’s Innovation and Technology (I&T) sector, the Hong Kong Science and Technology Parks Corporation (HKSTP) announced new initiatives to further strengthen the I&T ecosystem, focusing on creating a culture and environment where tech entrepreneurs and enterprises can flourish.

These initiatives are aimed at building on top of the major milestones HKSTP has achieved for Hong Kong’s I&T sector.

Some of these achievements include growing Science Park’s I&T community to more than 800 companies coming from 22 countries and regions and nurturing more than 640 incubatees from its world-class incubation and acceleration programmes. In the area of investments, to date, HKSTP has helped partner companies and incubatees raise more than HK$0.6 billion.

From the HK$10 billion government funding support announced in 2018, HKSTP’s incubation programmes were boosted and they received overwhelming interest from the start-up community.

The Science and Technology Entrepreneur Programme (STEP) received more than 300 applications from individuals and business entities, with 70 teams now admitted in the programme. The increased financial support for Incu-App, Incu-Tech and Incu-Bio incubation programmes also attracted over 600 applications and enquiries in the past year.

New Initiatives to Strengthen the I&T Ecosystem

Acquiring high-calibre talent and enabling the exchange will be crucial if Hong Kong is to leapfrog and accelerate I&T development into new areas.

In June 2019, HKSTP rolled out the ELITE programme, a major partnership initiative to attract high-potential tech companies from local and around the world with pioneering R&D capabilities to set up or expand their R&D operations at Hong Kong Science Park.

Partner companies with successful application will receive HKSTP’s funding support for R&D operating and capital expenditure, as well as rental subsidies. To date, five companies have been admitted in the programme and they focus on R&D in bio-medical, electronics, and information communications technologies (ICT).

To reflect HKSTP’s increased commitment to supporting tech innovators at the various stages of their start-up journeys, the highly successful pilot funding programme, Corporate Venture Fund (CVF), is rebranded as HKSTP Ventures.

First launched in 2015 and operating under a corporate co-investment model, the fund connects high-calibre start-ups with public and private funding in Hong Kong and beyond. In FY2018/19, every HK$1 of the CVF fund was matched by HK$13 from the private sector. Up to September 2019, approximately 35 private sector investors were engaged under the fund.

HKSTP Ventures signifies the new position HKSTP holds in the area of investments, aiming to connect venture capitalists, strategic investors, angel investors and family offices to investment opportunities in deep technologies, especially in AI & Robotics, biotech, fintech and smart cities. 

Expansion and Development for Sustained Growth 

The first stage of the Science Park Expansion Programme has been completed. Two research clusters under the InnoHK initiative, AIR@InnoHK and Health@InnoHK, will soon start operations and look into ground-breaking R&D for AI & robotics and healthcare.

The soon-to-be-launched Robotics Catalysing Centre 2.0 will focus on driving robotics development and adoption in various industries, such as manufacturing, construction and healthcare.

HKSTP is also exploring avenues to extend its footprint beyond its current premises through collaborations with the larger Hong Kong community.

The Park has started a new university collaboration model that will drive knowledge transfer, strengthen academia-industry alliances, nurture young technopreneurs and commercialisation opportunities of university spin-offs.

To align with the HKSAR Government’s re-industrialisation initiative, HKSTP has engaged local and overseas manufacturers and new economy industries to understand their requirements for advanced manufacturing.

Based on their insights, HKSTP is currently installing advanced facilities and support services that will meet the stringent requirements of their production processes, such as intellectual property (IP) protection, intensive R&D, proprietary fabrication and testing techniques.

These moves will also give existing companies in the three HKSTP-managed industrial estates an opportunity to upgrade their current processes for enhanced productivity and improved quality of production.

Tags: Hong Kong I&T EcosystemHong Kong Science Park Expansion ProgrammeRobotics Catalysing Centre 2.0
Next Post
Overseas Investments in Malaysia

Malaysia Courting More Overseas Investments

Recommended

New centre to develop secure blockchain foundations

New centre to develop secure blockchain foundations

2 days ago
Thailand and HK to launch two-tier digital token

Thailand and HK to launch two-tier digital token

15 hours ago
AI and IoT help to enhance HK Olympic fencers

AI and IoT help to enhance HK Olympic fencers

4 days ago
Thai digital bank launches biometric tech

Thai digital bank launches biometric tech

6 days ago

Popular News

  • Police clearance applicants in the Philippines can pay online through Land Bank's e-payment channel

    Police clearance applicants in the Philippines can pay online through Land Bank’s e-payment channel

    905 shares
    Share 362 Tweet 226
  • Exclusive: ABN AMRO staying ahead of the game

    113 shares
    Share 45 Tweet 28
  • The current state of cyber security in India

    1425 shares
    Share 579 Tweet 353
  • Singapore Taking Major Steps with Artificial Intelligence

    95 shares
    Share 48 Tweet 20

Channels

  • Augmented Intelligence
  • Big Data
  • Cloud
  • Cyber Resilience
  • Digital Economy
  • Digital Transformation
  • Education
  • FSI Fintech
  • Healthcare
  • IoT
  • Mobility
  • Open Data
  • Public Safety
  • Smart Cities
  • All

Newsletter

OpenGov releases new digital content daily on trending topics within technology and the public sector. Join our newsletter to have weekly digests of our content conveniently sent to your email address.

 SUBSCRIBE

OpenGov Asia

  • About
  • Testimonials
  • Advertise
  • Career
  • Cookies Policy
  • Privacy Policy
  • Contact

About Us

OpenGov is a content platform, dedicated to sharing ICT-related knowledge and information between governments. We focus on the public sector in the Asia-Pacific region. We help governments become more Efficient, Agile, Transparent and Secure, so as to improve the lives of their citizens.

  • About
  • Testimonials
  • Advertise
  • Career
  • Cookies Policy
  • Privacy Policy
  • Contact

© 2019 OpenGov Asia - CIO Network Pte Ltd.

No Result
View All Result
  • Academy
  • Channels
    • Augmented Intelligence
    • Big Data
    • Cloud
    • Cyber Resilience
    • Digital Economy
    • Digital Transformation
    • Education
    • FSI Fintech
    • Healthcare
    • IoT
    • Mobility
    • Open Data
    • Public Safety
    • Smart Cities
    • All
  • Countries
    • Australia
    • China
    • Hong Kong
    • India
    • Indonesia
    • Malaysia
    • New Zealand
    • Philippines
    • Singapore
    • Taiwan
    • Thailand
    • Vietnam
    • Global
  • Events
    • Upcoming Events
    • Past Events
  • Expert Opinions
  • Awards
  • White Papers

© 2019 OpenGov Asia - CIO Network Pte Ltd.

This website uses cookies to improve your experience. By using this site, you agree to our Privacy Policy. Accept Reject