(Hong Kong, 21 May 2021) – Hong Kong Science and Technology Parks Corporation (HKSTP) today hosted the annual graduation ceremony to celebrate the achievements of a record-breaking number of 165 startups* from HKSTP’s pre-incubation and incubation programmes. This year’s cohort sees a record 50% of graduates from the incubation programmes converted into HKSTP’s partner companies, further strengthening the vibrant innovation and technology (I&T) community at Science Park.
This year’s all-time-high numbers, particularly during a pandemic, reflects the strength and growth of Hong Kong’s I&T ecosystem. To maximise the innovation potential and ultimately commercial success for startups, HKSTP will increase support for startups at each stage of the journey of innovation and entrepreneurship. Resources will be invested in the following key areas: the first stage of “Ideation” to test and validate concepts; the second stage of “Commercialisation” to advance productisation and go-to-market opportunities; and finally the “Growth” stage to drive regional and international expansion.
Albert Wong, CEO of HKSTP, said: “In this remarkable year, our graduates have displayed huge entrepreneurial spirit as they pursue innovation during the most disruptive of times. This milestone moment is just the beginning of a new chapter in their startup journey. HKSTP is dedicated to creating the best possible support for these world-changers in their mission to innovate and transform lives and business in Hong Kong and beyond.”
In the pursuit of innovation, the 2021 cohort of incubation graduates is a showcase of international diversity, with ventures from Hong Kong, China, UK, US, India, France, Australia and Austria, all revealing innovative solutions to tackle pandemic and other societal and business issues. Riding on a global wave of game-changing technologies including AI & Robotics, Biomedical Technology, Data and Smart City and FinTech, the graduates have risen to the challenge at a time when the world needs innovators and problem solvers.
This year’s graduates mean over 850 startups and companies have now graduated from HKSTP’s incubation programmes, which further expands the HKSTP Startup Alumni Association (SAA). It provides an ideal source of insight and mentorship for rising startups, while serving as the perfect channel to create a lasting legacy and pass on invaluable experience and guidance to the next generation of entrepreneurs.
*The 2021 graduate cohort included those in HKSTP’s pre-incubation (Science and Technology Entrepreneur Programme/STEP) and incubation programmes between 1 April 2020 and 31 May 2021.
