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The Hong Kong Science and Technology Parks Corporation (HKSTP) and a renowned accelerator have joined hands to promote the advancement of Hong Kong’s digital economy. This collaboration comes in response to the Financial Secretary’s recent Budget speech, which highlighted the digital economy as a strategic direction for the city’s economic development, recognising its vast potential for growth and innovation.
Having been instrumental in nurturing successful Innovation and Technology (I&T) companies and fostering strong local and international partnerships over the past two decades, HKSTP has played a pivotal role in establishing Hong Kong as an esteemed international I&T hub.
As per the co-incubation agreement, the accelerator will refer 20 qualified tech ventures to be integrated into HKSTP’s ecosystem annually. Through collaborative efforts, both entities will foster the growth of startups in the digital economy sector, not only within Hong Kong but also in the Greater Bay Area and beyond.
The accelerator, established in 2016, is globally recognised and has seven bases across China, providing comprehensive support to start-up ventures. Their focus lies in assisting high-quality and competitive high-tech companies, both domestic and overseas, to expand their operations in the Greater China market. This includes domains like artificial intelligence (AI), big data, blockchain, robotics, fintech, MedTech, and more.
Apart from facilitating integration, the accelerator will offer training sessions, consultancy, and business matching opportunities to HKSTP companies and incubatees. Furthermore, their representatives will serve as mentors for companies enrolled in HKSTP’s existing mentorship programme. This joint initiative aims to drive the growth and success of the digital economy in Hong Kong, propelling it to new heights in the world of technology and innovation.
The CEO of HKSTP expressed his enthusiasm for the significant milestone achieved in Hong Kong’s tech industry through the partnership with the accelerator. With the city’s digital economy becoming a top development priority in line with the 14th Five-Year Plan and Hong Kong’s I&T Development Blueprint, the collaboration is poised to accelerate the realisation of Hong Kong’s ambitions in smart city initiatives and digital economy growth.
The Co-founder of the accelerator highlighted the opportune moment for advancements in the digital and virtual assets industry in Hong Kong. The national 14th Five-Year Plan’s support and clear vision for Hong Kong to become an international I&T Hub create a promising landscape for tech companies to thrive.
The collaboration is expected to play a pivotal role in nurturing I&T talent, empowering innovative digital economy startups not only in Hong Kong but also in Mainland China and overseas markets, and bolstering Hong Kong’s position in the ever-evolving digital tech sector.
HKSTP is taking significant strides towards creating a thriving digital future for Hong Kong, with a key focus on enhancing the core foundation of the city’s digital economy – data. A major step in this direction is the establishment of the “Data Community” by STP Platform under HKSTP. This pioneering initiative represents Hong Kong’s first neutral digital innovation environment with independent data governance.
Through the “Data Community,” HKSTP is facilitating vital seamless data interconnection capabilities, which are crucial in maximising cross-industry data collaboration and exchange. This open and collaborative approach to data management is expected to unlock the full potential of digital innovation in Hong Kong.
By ensuring a neutral and independent data governance structure, the “Data Community” enables businesses and organisations to share data, breaking down silos and fostering a more integrated and dynamic digital ecosystem securely and efficiently. This, in turn, will drive innovation across various industries and empower Hong Kong to explore and harness its complete digital innovation potential. With a solid data foundation, Hong Kong is well-positioned to embrace the opportunities and possibilities that the digital era offers, further solidifying its position as a leading player in the global digital landscape.
