HKSTP and CUHK Sign MoU to Nurture Tech Talent and Maximise GBA Growth Opportunities for Early-stage Startups

Photo 1: Mr Albert Wong, CEO of HKSTP (front row, right) and Prof Wai-yee Chan, Pro-Vice-Chancellor/ Vice President of CUHK (front row, left) signed a strategic memorandum of understanding (MoU) under the witness of Prof Jianxiang Jiang, Director-General of the Department of Educational, Scientific and Technological Affairs of the Liaison Office of the Central People's Government in the HKSAR (back row, 3rd from left); Prof Rocky S. Tuan, Vice Chancellor and President of CUHK (back row, 3rd from right); Dr David Chung, JP, Under Secretary for Innovation and Technology, Innovation and Technology Bureau, HKSAR (back row, 2nd from left); Dr Sunny Chai, Chairman of HKSTP (back row, 2nd from right); Prof Alan Chan, Provost of CUHK (back row, 1st from right) and Prof Yeung Yam, Director of CUHK Shenzhen Research Institute (back row, 1st from left).

(Hong Kong, 28 October 2021) Hong Kong Science and Technology Parks Corporation (HKSTP) and The Chinese University of Hong Kong (CUHK) have signed a strategic memorandum of understanding (MoU) to develop a series of programmes to incubate and accelerate development of innovation and technology (I&T) talent and high-potential tech startups.

The partnership will help startups maximise growth opportunities in the GBA as the region grows into a world-leading innovation hub. HKSTP is embarking on an extensive series of strategic incubation partnerships with sector leaders to drive talent and technology cooperation across the GBA. Under the framework stipulated in this latest MoU, CUHK and HKSTP will work closely on talent development programmes to nurture CUHK students to be I&T talents in HK through new initiatives on education, practicum, internship.

CUHK and HKSTP will also collaborate to facilitate technology transfer, corporate innovation and startup development in Shenzhen and the GBA, accelerating translation and commercialisation of research. Both parties will leverage their expertise to co-nurture innovation ideas and offer support such as grants, entrepreneurial training, coaching and mentorship during startup ideation and pre-incubation stages.

Albert Wong, CEO at HKSTP, said: “The Guangdong-Hong Kong-Macao Greater Bay Area is primed to realise its full potential as a global innovation powerhouse. HKSTP has been committed to maximising GBA growth opportunities for high-potential tech talent and early-stage startups. The next era of growth for Hong Kong and the region depends on developing the rich talent pool, entrepreneurs and budding innovation from leading institutions like CUHK.”

“With partnerships of this kind, HKSTP is taking incubation to a new level by forging strategic co-incubation with industry leaders across academia, government and industry to build a thriving cross-border I&T eco-system. This will further enhance our competitiveness in the region and Hong Kong’s status as a launchpad for talent and startups looking for international growth.”

Professor Chan Wai Yee, Pro-Vice-Chancellor/ Vice President of CUHK, said: “CUHK is the first higher education institution in Hong Kong to promote and drive comprehensive university-industry-research collaboration in the Greater Bay Area. It has established a number of research and academic bases in the region, of which the InnoHub at CUHK Shenzhen Research Institute has incubated over 50 startups, enabling the translation of local research into tangible benefits.”

“CUHK and HKSTP have a close partnership, and the MoU signing between us echoes the innovation and technology development plan of our Nation, the Greater Bay Area and Hong Kong. Combining CUHK’s academic and research excellence with HKSTP’s advantages in the innovation industry will nurture more innovation and help establish the GBA as an international technological innovation and science centre.”

HKSTP has strategically partnered with CUHK, one of the first universities in Hong Kong which establishes a significant presence in the GBA. In 2006, CUHK established the first advanced technology research institute in China with Shenzhen Municipal People's Government and the Chinese Academy of Sciences. The CUHK Shenzhen Research Institute (SZRI) has been an important industry, academic and research base of CUHK in mainland China since its establishment in 2007. Complementing the national and Shenzhen Municipal’s development plan on technology, SZRI has focused on promoting the fields of biomedicine, information technology and sustainable development to support the scientific research development of CUHK.

Looking ahead, CUHK and HKSTP will focus on promoting the transformation of scientific research projects into commercially viable and impactful innovations. The joint programmes emerging from this MoU will exploit the GBA’s world-class innovation capabilities, resources and market opportunities, expediting I&T development in the region.