HKSTP Joins Web3 Festival to Fuel Hong Kong’s Ambition to be a Global Web3 Hub

(Hong Kong, 14 April 2023) – To connect Hong Kong more closely with global third generation Internet (Web3) entrepreneurs and investors, Hong Kong Science and Technology Parks Corporation (HKSTP) co-organised the substage forum: "Technology Frontier: Integration of Web3, AIGC and Privacy Preserving Computing" at the inaugural Hong Kong Web3 Festival 2023 on 12 April 2023. The forum saw Dr Crystal Fok, Head of STP Platform, HKSTP, and Mr Ivan Lau, Co-founder and Chief Executive Officer of Pantheon Lab, a Science Park-based artificial intelligence (AI) startup, to discuss the latest developments in AI and how related innovation in the Web3 space can drive growth. 

Web3 is the next evolution of the Internet that holds immense potential to revolutionise industries by transforming how users interact with information, creating new opportunities for innovation, entrepreneurship, and social impact. HKSTP is extending its full support to developing Web3 in Hong Kong and will continue to work with leading enterprises and cutting-edge technological talent to position the city as the global Web3 hub. 

In her opening speech at the substage forum, Dr Crystal Fok said, “As algorithms continue to improve and evolve, AI has reached a point where it can engage in conversation with anyone and possesses remarkable capabilities for generating content. This not only enables a redefinition of our production methods but also brings about new opportunities for exploring business models. As we move towards Web3, HKSTP is ready to join hands with industry leaders, innovators, and investors, alongwith our Park companies, to cultivate and promote wider adoption of Web3 technologies in Hong Kong, injecting momentum into the city's overall innovation and development." 

Dr Fok also attended the Web3Hub Global Acceleration Programme and Investment Fund Kick-off Ceremony as the officiating guest and has been appointed as the Acceleration Programme’s honourary advisor. As an advisor, she will offer guidance and empower innovators to realise impactful initiatives. The programme aims to attract more global Web3 companies to set up in Hong Kong and fast-track the next generation of entrepreneurs to shape the future of decentralised technologies by harnessing Web3’s disruptive potential. 

HKSTP is actively supporting the city’s expansion on the Web3 ecosystem. Currently, more than 300 Park companies are developing Web3-related technologies such as blockchain, AI, digital content and cybersecurity. HKSTP is also committed to improving the underlying infrastructure of the Web3 ecosystem – data. In February, it established the first city-wide “Data Community”, promoting cross-industry data collaboration. The community has attracted over 10 different industries and is actively working on data collaboration to achieve higher commercial value and drive the development and application of Web3, further enhancing Hong Kong’s position as a global Web3 centre. 

The Hong Kong Web3 Festival 2023 is co-hosted by Wanxiang Blockchain Labs and HashKey Group from 12-15 April 2023. The festival brings together the brightest Web3 visionaries and premier thought leaders to exchange ideas and provides an international platform to showcase over 100 prominent Web3 projects and share technical solutions.