HKSTP, J.P. Morgan and HKIHRM Joint Program NxTEC 2.0 to Strengthen and Diversify the Talent Pool for Hong Kong’s Technology Start-Ups

(Hong Kong, 19 June 2018) - Hong Kong Science and Technology Parks Corporation (“HKSTP”), J.P. Morgan and the Hong Kong Institute of Human Resource Management (“HKIHRM”) today jointly announced the second edition of the NxTEC (Next Technologist Entrepreneurial Champion) programme at the J.P. Morgan-Asia Society One Step Ahead Series symposium. The two-year programme is designed to support the human capital development of technology start-ups as well as nurture a more diverse pipeline of youth to enter the burgeoning innovation and technology sector, in answer to the mounting demand for talent in the sector. The programme provides human resources (HR) management training to a targeted group of 60 high-performing technology start-ups of HKSTP, and 120 internship opportunities at the participating start-ups will be offered to 200 sub-degree and vocational school students in matching fields to address their talent requirements. 

Built on the success of NxTEC 1.0 which has helped raising a total of US$7.8 million for participating start-ups, NxTEC 2.0 will focus on addressing the sector’s talent demand by channeling a broader pool of young people to enter the innovation and technology fields. It will have two distinct tracks – the HRM Series targeting start-ups and the Talent Series for students.

In the HRM series, a total target of 60 HKSTP technology start-ups that specialise in identified high-demand sectors, including artificial intelligence, smart city, biotechnology, green technology, information and communications technology, will be recruited. The selection will be made based on their track record, future growth potential and demonstrated commitment to embed new HR practices. The selected start-ups will undergo HR training on HR topics such as the Hong Kong Employment Ordinance, sourcing and staffing, and reward and performance management. They will also be equipped with systems required for their recruitment and HR needs to fulfil their long-term growth prospects. The participating technology start-ups will be trained in three batches over the next two years. The first round of training will begin in Q4 of this year.

In parallel, the Talent Series will recruit 200 students who are in their final years in sub-degree courses or vocational training in Hong Kong. These students will receive people and technical skills, such as work ethics, career planning, communication skills, big data, digital marketing and social innovation. The program will also provide more advanced inter-disciplinary skills training highly sought after by technology start-ups, which will equip the students to excel at their jobs. More than half of the trainees (120) will be placed in full-time internships with start-ups within three months of completing the training programme. They will fill positions requiring skills in coding, website management, network administration, engineering and e-marketing.

HKSTP CEO Albert Wong said, “Talent is the backbone of pioneering technology. Technology companies, and more so start-ups, need skilled talent at every step of the innovation journey. NxTEC 2.0 equips our incubatees with critical HR management skills that will help them build solid businesses in the long run. By the same token, students trained in different science and technology disciplines will be exposed to a wider range of training and employment opportunities as a result. We are pleased to continue our partnership with J.P. Morgan in responding to a growing need in the innovation and technology field, and we appreciate having HKIHRM share HR expertise with our incubatees.”

“Contributing to the long-term growth and prosperity of Hong Kong has always been one of our key objectives, and workforce development is core to our philanthropic mission,” said Sophia Leung, Chief Information Officer, Asia Pacific, J.P. Morgan. “As Hong Kong transforms into a more innovation-driven economy, we see an unprecedented opportunity to open up a greater diversity of pathways for a broader spectrum of Hong Kong’s youth. We are excited to partner with HKSTP and HKIHRM to roll out this innovative programme, which helps to unlock the potential of students and strengthen their employment prospects. It will not only benefit the participants but also build stronger talent pipelines for the high-performing technology start-up companies in Hong Kong.”

“We would like to thank HKSTP and J.P. Morgan for their partnership,” said David Li, President of Hong Kong Institute of Human Resource Management. “Through this programme, we believe these technology start-up companies will be able to enhance their HR management capabilities. As a professional organization in people management, HKIHRM will help them to diversify their talent pool riding on our strengths and expertise.”

NxTEC 2.0 is the extension of the HKSTP and J.P. Morgan partnership following the success of NxTEC 1.0, which was a two-year structured coaching and training program in collaboration with the Hong Kong Business Angel Network (“HKBAN”) to gear up start-ups for business and management skill development to enhance their fundraising prospects. NxTEC 1.0 trained a total of 200 start-ups in the HKSTP and HKBAN networks and was proven successful in stimulating start-up investment activities in Hong Kong.