Science Park Unveils a New Growth Chapter for Hong Kong Powered by Central Government’s Support for Hong Kong’s mission to be a global I&T hub
HONG KONG, July 11, 2022 /PRNewswire/ — Hong Kong Science and Technology Parks Corporation (HKSTP) is celebrating its 20th anniversary of propelling success and innovation and is set for a new chapter of growth for Hong Kong powered by the Central Government’s support on Innovation & Technology (I&T), the Greater Bay Area (GBA) and young generation of talent that goes beyond borders.
To mark the 25th anniversary of the establishment of the HKSAR, the city was boosted by President Xi Jin Ping’s recent full endorsement of Hong Kong’s mission to become a global I&T hub. In speaking during his extraordinary visit to the Hong Kong Science Park, he stated how Hong Kong I&T is at the heart of China’s vision to lead a new era of innovation-driven growth.
To celebrate its 20th anniversary, HKSTP was honoured to host Mr. John Lee, Chief Executive of HKSAR, Mr. Tan Tieniu, Deputy Director of LOCPG, Prof. Sun Dong, Secretary for Innovation, Technology and Industry and a cast of Hong Kong’s innovation leaders from today and tomorrow – from founders of Hong Kong unicorns, HKSTP startups, to academic and corporate leaders.
Mr John Lee, Chief Executive of the HKSAR, said: “I am very excited to be a guest at the 20th anniversary celebrations of the Hong Kong Science Park. As the first I&T event I have attended since I took office as the Chief Executive, I look forward to meeting and exchanging thoughts with a wider group of R&D and I&T talent here today.”
He continued: “President Xi Jinping visited the Science Park during his recent trip to Hong Kong, touring the laboratory of InnoHK, the flagship I&T initiative of the HKSAR government, and meeting with members of the Chinese Academy of Sciences, the Chinese Academy of Engineering, R&D professionals and young entrepreneurs in Hong Kong. President Xi mentioned that the I&T workforce of Hong Kong is a major factor in China’s development as an innovative country, and that full support for establishing Hong Kong as an international I&T hub is included in the 14th Five-Year-Plan. He has high expectations for Hong Kong and encouraged everyone to contribute towards building our nation into a world leading technology powerhouse. President Xi’s speech fully reflects the importance the central government attaches to Hong Kong’s I&T development, providing a significant boost to the city and its I&T ecosystem.”
Dr Sunny Chai, Chairman of HKSTP said: “With staunch support from President Xi, the Central and HKSAR Governments, HKSTP will leverage the unique advantages of Hong Kong with long-term R&D, reindustrialization & advanced manufacturing and talent strategies to support the development of a diverse economy. As Hong Kong celebrates its 25th anniversary of returning to the Motherland, HKSTP strives to fully realise Hong Kong’s I&T potential of being a global I&T hub and will encourage young talent to build on our foundations in innovation to write a new chapter for Hong Kong’s I&T ecosystem together.”
Mr Albert Wong, CEO, HKSTP, said: “The visit by President Xi on June 30 was a historic moment for HKSTP. I would like to take this opportunity to thank all our innovators, entrepreneurs, industrialists and partners for their hard work making us part of Hong Kong’s history. Monumental is the best description of President Xi’s visit who made it clear that Hong Kong is primed to be the international I&T Hub of China. His words will inspire and embolden our city, and attract I&T talent locally and overseas to our world class innovation and R&D to build Hong Kong into an international I&T hub.”
This will open a new chapter of Hong Kong’s future and ensure Innovation, Technology and Industrialisation will be an important pillar of Hong Kong’s future economy. With the theme of ‘Innovation starts here – success beyond borders’, HKSTP’s 20th anniversary is the start of a mission for a new decade of I&T growth. Hong Kong will continue to evolve and elevate its I&T ecosystem to new heights with new infrastructure, world-class R&D, private-public partnerships, unprecedented funding levels and deep-tech capabilities to spark young talent to form a new generation of leaders to propel Hong Kong to new levels of prosperity.
HKSTP’s three key values to fuel for Hong Kong’s next chapter of growth
To usher in a new era of innovation-driven growth and establish I&T as a pillar for Hong Kong’s future economy, HKSTP’s roadmap will build on three value creation factors.
World-class I&T ecosystem to drive commercialisation and impactful innovation
HKSTP’s expanding infrastructure and ecosystem across Hong Kong has sparked over 40% growth to over 1,100 startups and tech ventures from over 24 countries and regions. In the past four years, there were over 220 investment cases within Science Park, raising HK$68 billion. The HKSTP Venture Fund (also known as HKSTP Corporate Venture Fund) totals over HK$600 million in assets under management, where every HK$1 invested by HKSTP draws an external investment of HK$16 to support local startups at different stages of funding.
HKSTP has collaborated with over 250 private and public partners to drive commercialisation and technology adoption. Through co-incubation partnerships and various initiatives, HKSTP is building a solid foundation for the I&T ecosystem to manifest start-up potential and business opportunities. This partnership approach has led to the Government-led InnoHK Research Clusters established at Science Park, namely Health@InnoHK, focusing on healthcare technologies, and AIR@InnoHK, focusing on artificial intelligence and robotics technologies. InnoHK is committed to bringing together leading researchers from around the world to conduct world-class and impactful collaborative research with local universities and research institutions. The two research clusters have successfully attracted 28 R&D project centres, of which 14 focus on healthcare-related technologies, to set up their base in Science Park.
The HKSTP ecosystem has been extended and enhanced in aligning with the Government’s initiative to re-industrialise Hong Kong, integrating I&T into industrial development. The three industrial estates in Tai Po, Yuen Long and Tseung Kwan O have been repositioned as INNOPARKs to signify I&T led manufacturing. In April 2022, the Advanced Manufacturing Centre (AMC) at Tsang Kwan O INNOPARK, which offers a high-spec, fully-serviced production base for advanced manufacturing and provides a foundation for Hong Kong’s mission to reindustrialise and achieve technology-driven growth.
Next-gen tech talent and innovation culture
Talent is the critical foundation for innovation success and HKSTP has built up Hong Kong’s largest R&D community of 17,000 people, of which 11,000 are research and development professionals. This year has also witnessed a record-breaking 278 graduates from its incubation programmes, all flourishing from HKSTP’s “work, live, play” innovation culture. The repositioned INNOPARKs also create the fabric necessary to enable the productisation of new technologies and world-class manufacturing of high value products, thereby generating new business opportunities, high-skilled employment and a brighter future career for the young generation. HKSTP is extending this culture drive to new sectors by cross-pollinating innovation and technology with arts and culture, sport and other industries in a fusion of innovation and craft to open minds across all industry sectors to the game-changing potential of technology. These initiatives all make up HKSTP’s goal to establish a playground for local and global I&T talent.
The Hong Kong platform to attract-in and expand-out from the GBA
Hong Kong’s future success will see HKSTP seize the opportunities under the 14th Five-Year-plan and the Greater Bay Area to deepen the integration between Hong Kong and Shenzhen with the development of the Northern Metropolis, San Tin Technopole and the ‘Twin cities, Three circles’ initiatives. As Hong Kong celebrates its 25th anniversary of returning to the Motherland, HKSTP is dedicated to expanding its I&T ecosystem and talent pool, as well as advancing the city to be an international I&T hub.
To meet the growing demands for I&T here in Hong Kong, Science Park is further expanding the city’s capacity and reach across the border. The soon-to-open Hong Kong Science Park Shenzhen Branch, located in Futian, Shenzhen, is a joint initiative supported by the governments of HKSAR and Shenzhen. The campus boasts an area of 31,000 square metres across two buildings provides offices, laboratories, co-working spaces, MICE venues and park amenities for partner companies.
With the necessary space and scale, Hong Kong will be even better positioned to develop the city’s I&T industry and accelerate the progress of our city’s economy. Extending the GBA theme HKSTP is setting up the “GBA InnoAcademy” in the Shenzhen Branch of Hong Kong Science Park, providing resources, training, and an exchange platform for I&T talent across the GBA. HKSTP will work with Hong Kong universities to establish incubator networks in their GBA campuses.
With these key factors in place. HKSTP is opening a new chapter of growth for Hong Kong, built on Innovation, Technology and Industrialisation as the critical new pillar of the economy.
About Hong Kong Science and Technology Parks Corporation
Hong Kong Science and Technology Parks Corporation (HKSTP) has for 20 continuous years committed to building up Hong Kong as an international innovation and technology hub to propel success for local and global pioneers today and tomorrow. HKSTP has established a thriving I&T ecosystem that 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, we attract and nurture talent, accelerate and commercialise innovation and technology for entrepreneurs on their journey of growth in Hong Kong, to the Greater Bay Area, Asia and beyond. Our growing innovation ecosystem is built around our key locations of the Hong Kong Science Park in Shatin, InnoCentre in Kowloon Tong and three modern INNOPARKs in Tai Po, Tseung Kwan O and Yuen Long. The three INNOPARKs are realizing a vision of re-industrialisation for Hong Kong. The goal is sectors like advanced manufacturing, electronics and biotechnology are being reimagined 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
SOURCE Hong Kong Science Technology Parks Corporation