A total of 80 companies celebrated a major milestone in their I&T journey at today’s Incubation Graduation Ceremony. This was the highest number of Incubation graduates in a single year. They come from China, Canada, Hong Kong, Russia and the United States, underpinning Hong Kong's growing status as an international hub for innovation and technology.
Peter Mok, Head of Incubation & Acceleration Programmes, HKSTP, shared the new initiatives aimed at accelerating the development of incubatees as well as Hong Kong’s overall I&T development. These included a revamped Mentorship Programme, and new online value-added services, such as Marketplace@HKSTP, the Legal Library and the Investor Calendar.
Hong Kong, 21 March 2019 – Hong Kong Science and Technology Parks Corporation (HKSTP) today held the 2019 Incubation Graduation Ceremony at Science Park, as part of the “MakeITHongKong 3-2-1 Go! Bang!” event. The ceremony honoured 80 companies for completing their Incubation Programmes, setting a record for the highest number of companies to graduate in a single year.
The graduates all came from the three Incubation Programmes offered by HKSTP - Incu-App, Incu- Tech, and Incu-Bio – and were in various stages of development when they signed up. These companies were either at the conceptualisation stage, those seeking initial seed money, or those about to commercialise their solutions.
A reflection of the city’s growing position as an international I&T hub, the graduating companies came from China, Canada, Russia, the United States and Hong Kong. Collectively, they have won 99 innovation awards from local and international competitions, have filed or registered 38 patents, and raised a total of HK$ 134 million from angel investments and venture capital funding.
Albert Wong, CEO of HKSTP, said, "We have been making the best use of the government’s funding support to introduce new initiatives, enhanced current programmes and support services to strengthen our ecosystem and accelerate the growth of our start-ups. Last year, we set a target of incubating more than 500 I&T companies over the next few years, and we are well on our way to achieve this. To see so many companies graduating from our programmes this year is gratifying for us all here at HKSTP, as well as our public and private sector partners.
It is also good to see that many of these graduates are becoming our partner companies and continue to build their business at the Park. Not only are they are taking advantage of what Science Park can offer them in terms of R&D and commercialisation support, they also continue to contribute to the I&T ecosystem by sharing knowledge to other incubatees. The Greater Bay Area is also on track to become a global innovation hub and these companies are setting themselves well for future opportunities. May they inspire more entrepreneurs and start-ups to come forward and bring their ideas to life.”
With this year’s graduation batch, more than 622 start-ups and companies have since graduated from HKSTP’s Incubation Programmes.
More Initiatives to be Introduced to Accelerate Development of Incubatees
At the event, HKSTP also announced new initiatives and support services to further boost the current set of Incubation Programmes.
- Mentorship programme – The current mentorship programme will be revamped, with a goaldriven structure over a 6-month period for each cohort. The programme will evolve from a one-on-one pairing to a networked multiple-party mentoring model, with incubatees having access to more functional or vertical-specific mentors. Currently, there are over 100 individuals in the mentor pool and the mentor-mix include senior corporate executives, entrepreneurs, industrialists, investors, technology experts, domain experts and academics. HKSTP will be inviting more mentors from a wide range of industries and expertise to join this pool. A matching event will be arranged at least once a quarter, where all the mentors get to meet the incubatees and increase the opportunity for both parties to network. HKSTP will monitor and keep track of the progress of the incubatees throughout the mentoring period.
- Value-added Support Services by Marketplace@HKSTP – For those Incubatees requiring goto- market and R&D support services, a new portal called Marketplace@HKSTP will soon be launched where they can seek professional services from a list of approved service providers in accounting, legal, certification, public relations and R&D. Each incubatee will be provided with targeted funding support of up to HK$ 120,000 for services signed up from the Marketplace@HKSTP portal.
- New investment services support for Incubatees and partner companies – HKSTP will liven up the venture capital environment at Science Park, by providing more tools to aid fund-raising and inviting more investors to join the venture capital ecosystem.
- Legal Library - As companies grow and seek new funding, they need to handle various legal documents and contracts which can be complex without proper advice. HKSTP has introduced an online legal library that helps explain commonly-used fundraising and other legal agreements for Park companies and Incubatees to easily refer to in a reader-friendly way.
- Investor Calendar - An online investor calendar will also be launched, where Park companies can share their projects and make themselves known to the pool of HKSTP investor community, including angel and institutional investors.
About Hong Kong Science and Technology Parks Corporation
Comprising Science Park, InnoCentre and Industrial Estates, Hong Kong Science & Technology Parks Corporation (HKSTP) is a statutory body dedicated to building a vibrant innovation and technology ecosystem to connect stakeholders, nurture technology talents, facilitate collaboration, and catalyse innovations to deliver social and economic benefits to Hong Kong and the region.
Established in May 2001, HKSTP has been driving the development of Hong Kong into a regional hub for innovation and growth in several focused clusters including Electronics, Information & Communications Technology, Green Technology, Biomedical Technology, Materials and Precision Engineering. We enable science and technology companies to nurture ideas, innovate and grow, supported by our R&D facilities, infrastructure, and market-led laboratories and technical centres with professional support services. We also offer value added services and comprehensive incubation programmes for technology start-ups to accelerate their growth.
Technology businesses benefit from our specialised services and infrastructure at Science Park for applied research and product development; enterprises can find creative design support at InnoCentre; while skill-intensive businesses are served by our three industrial estates at Tai Po, Tseung Kwan O and Yuen Long. More information about HKSTP is available at www.hkstp.org.
For media enquiries, please contact:
Hong Kong Science and Technology Parks Corporation
Tel: +852 2629 7009
Ogilvy Public Relations
Tel: +852 2884 8474