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The Hong Kong Science and Technology Parks Corporation (HKSTP) and a leading provider of energy-efficient computing solutions for smart vehicles have entered into a Memorandum of Understanding (MoU) to create a ‘Technology Innovation R&D Center’ at the Hong Kong Science Park.
The partnering company plans to invest around HK$3 billion by the end of 2028 and aims to expand its research and development team to approximately 100 personnel. The collaboration, overseen by the ITIB and the OASES, is dedicated to advancing Hong Kong’s microelectronics and intelligent driving ecosystem.
The MoU signing ceremony involved the Chief Corporate Development Officer of HKSTP and the Co-founder and Chief Operation Officer of the technology firm. The event was witnessed by key figures such as the Secretary for Innovation, Technology, and Industry; the Director-General of the Office for Attracting Strategic Enterprises; the Under Secretary for Innovation, Technology, and Industry; the Chairman of HKSTP; and the Founder and Chief Executive Officer of the partnering firm.
The Secretary for Innovation, Technology and Industry highlighted the influx of new energy and intelligent vehicle enterprises in Hong Kong, emphasising the positive impact on relevant ecosystems. He acknowledged the partner firm’s establishment of an international R&D centre at Hong Kong Science Park as leveraging the city as a platform for globalisation. The Chairman of HKSTP, expressed the significance of the partner firm’s presence, contributing to the long-term diversification of Hong Kong’s economy.
The Founder and CEO of the partnering company, expressed delight in collaborating with HKSTP, emphasising the ideal business and R&D environment provided by the Hong Kong Science Park. The partnering company aims to use the Technology Innovation R&D Center to accelerate the development of automated driving computing solutions, benefiting Hong Kong and the Greater Bay Area’s smart vehicle ecosystem.
The “Hong Kong Innovation and Technology Development Blueprint” supports Hong Kong’s goal to become an international I&T centre, with a focus on the microelectronics industry. The establishment of the “Hong Kong Microelectronics Research and Development Institute” was announced in the 2023 Policy Address to drive collaboration and create an enabling environment for microelectronics industry advancement.
The partnering company is a leading provider of energy-efficient computing solutions for advanced driver assistance systems (ADAS) and automated driving (AD), is committed to enhancing next-generation driving experiences. The company collaborates with a wide network of partners, offering products and services to accelerate the transformation of smart electric vehicles. Their Founder and CEO is a renowned expert in machine learning, with the company holding nearly 2,000 patents and collaborating with major automobile companies globally.
HKSTP remains dedicated to advancing Hong Kong’s new industrialisation mission, boasting a microelectronics ecosystem with nearly 250 companies. Five Hong Kong universities rank among the top 100 globally, with over 100 researchers engaged in microelectronics research. HKSTP provides comprehensive microelectronics hardware infrastructure to support design, prototyping, and pilot production processes.
The collaborative efforts between the Hong Kong Science and Technology Parks Corporation (HKSTP) and the partnering firm signify a pivotal step towards advancing Hong Kong’s standing in the global microelectronics and intelligent driving landscape.
With the establishment of the ‘Technology Innovation R&D Center’ at the Hong Kong Science Park, the partnering firm brings substantial investment and expertise to fuel the city’s economic diversification. The commitment to nurturing talent, fostering innovation, and leveraging the international I&T centre status reflects a strategic alignment with Hong Kong’s broader goals.
As the microelectronics ecosystem at HKSTP continues to flourish, this collaboration sets the stage for groundbreaking developments in automated driving computing solutions, contributing significantly to the smart vehicle ecosystem in Hong Kong and the Greater Bay Area. Together, HKSTP and their partnering company exemplify the synergy necessary for propelling Hong Kong’s technological prowess into a new era of growth and global competitiveness.
