HKSTP Signs MoU with HKUST to Spark I&T Growth Opportunities in GBA

(Hong Kong, 26 August 2021) – Hong Kong Science and Technology Parks Corporation (HKSTP) and the Hong Kong University of Science and Technology (HKUST) have signed a strategic memorandum of understanding (MoU) to advance innovation and technology (I&T) growth opportunities and next-generation talent development across Hong Kong and the Greater Bay Area (GBA).

The collaboration paves the way for the establishment of the Hong Kong Science Park and Guangzhou Nansha Co-incubation Base (Co-incubation Base) in Nansha, Guangzhou. This directly connects the HKUST and HKSTP ecosystems across the region to grow the R&D and technology talent pools between Hong Kong and the GBA. High-potential startups, entrepreneurs and young talent from Hong Kong can “land” in Nansha and immediately connect to the local innovation ecosystem, while mainland ventures and talent can do the same when connecting to Hong Kong.

The co-incubation programme with HKUST aims to unlock innovation potential by creating a thriving, competitive I&T ecosystem spanning Hong Kong and the GBA. HKSTP is embarking on a broad sweeping co-incubation strategy for early-stage startups that leverages the strengths of a combined network of industry and academic partners.

Albert Wong, CEO at HKSTP said: “This landmark agreement with HKUST is a significant step in our co-incubation strategy to form deep partnerships to unlock growth and ground-breaking innovation, while developing technology leaders of tomorrow across the GBA. Securing the collaboration and commitment from leading academia such as HKUST will ensure startups benefit from the combined capabilities, reach and network strength of Hong Kong’s world-class GBA-wide I&T ecosystem.”  

Professor Lionel Ni, President (Designate) of the new HKUST Guangzhou campus in Nansha, said: “The HKSTP-HKUST collaboration will facilitate exchange and joint efforts of the R&D talent and technopreneurs across the GBA, together we will enhance the ecosystem for entrepreneurs in HK who wish to tap the opportunities of the GBA and entrepreneurs in the mainland who wish to expand beyond the domestic market.”

The partnership aims to create a cross-border laboratory platform with a focus on accelerating microelectronics development that could be applied to areas such as: the digital economy, semi-conductors, 5G, AI, high-end intelligent equipment, smart logistics, biomedical and environmentally-friendly materials.

The Co-Incubation Base will provide early-stage startups from Hong Kong and overseas with R&D development and expansion opportunities in the Mainland. While high-potential I&T ventures from the Mainland can also carry out R&D in Hong Kong and expand their international footprint along the "Belt and Road" countries.

Experts at HKUST will share their extensive research experience with tech ventures at the Co-incubation Base and equip them through a series of technical training and knowledge transfer programmes. HKSTP’s GBA InnoAcademy and GBA InnoExpress development programs ensure tech ventures at the Co-incubation Base receive comprehensive support with deep training and broad industry exchange. HKSTP will also support the emerging startups in exploring further opportunities at the planned Microelectronics Centre in the Yuen Long Industrial Estate, to be completed in 2023. These initiatives will dramatically ease the path for young people to acquire work experience in R&D and engineering projects across the GBA region.