The Hong Kong Applied Science and Technology Research Institute (ASTRI) and The Chinese University of Hong Kong (CUHK) signed a University Technology Transfer and Collaboration Memorandum of Understanding (MoU) for the first time.
The two organisations have reached a cooperation consensus on the implementation of commercialisation strategies and a development blueprint in line with the government’s increasing innovation and technology (I&T) resources in recent years and its vision of developing Hong Kong into an international I&T centre.
The MoU enshrines collaboration between academia and research and development (R&D) centres to develop leading technologies, and leverage resources to enhance the quality of research, as well as facilitate the commercialisation process. It will help to introduce technology that is useful to the government, industry and society, supporting Hong Kong as it becomes an international smart city.
The collaboration between government agencies, the industry, academia and the R&D sector emphasises the importance of full participation and mutual support from stakeholders in the technology ecosystem. Intellectual property (IP) commercialisation is crucial for strengthening technology commercialisation. Intellectual property holding institutions can formulate rules and regulations and implement the corresponding measures necessary to maximise the economic and social benefits of their R&D outcomes.
The MoU was signed by the Chief Executive Officer of ASTRI and the Pro-Vice-Chancellor (Research) of CUHK. Under the agreement, the two will determine the ownership of R&D outcomes through their respective IP rights to boost the commercialisation of R&D projects developed by both parties and CUHK’s affiliates and shorten the research time taken by joint projects and optimise resources to increase the effectiveness of R&D commercialisation.
The close cooperation between scientific research experts from both sides will not only improve the effectiveness of R&D and generate innovative technologies but will also help cultivate R&D talents.
Meanwhile, ASTRI and CUHK or its affiliates will jointly develop a set of standardised arrangements and procedures to determine inventive contributions, ownership of research outcomes of joint projects, funding arrangement, roles and responsibilities in project execution, IP protection, and others. The respective IP rights owned by ASTRI and CUHK will allow more opportunities for technology commercialisation, help local R&D become more practical and measurable, and advance the development of re-industrialisation.
The Chairman of ASTRI stated that in recent years, the I&T ecosystem in Hong Kong has been enriched. Interactions among the government, academia, R&D centres and industry have become more mature as well. This provides the best moment for nurturing and enriching the talent pool and improving the I&T ecosystem and eco-chain of development, furthering smart city development and strengthening the city’s positioning in the Greater Bay Area collaboration.
The Chief Executive Officer of ASTRI noted that the agency is working to establish itself as a leader in research and innovation, collaborating with local universities in research and development, and facilitating commercialisation of research outcomes, while providing practical assistance to some other universities in launching more I&T products to the market.
He noted that this collaboration with CUHK marks the beginning of an era, with the hope of safeguarding the intellectual property of future R&D products, establishing a good foundation for the manufacturing and re-industrialisation process to enhance the efficacy of technological development, people’s livelihoods and the economy of Hong Kong.
The CUHK Pro-Vice-Chancellor (Research) said that the MoU between CUHK and ASTRI will bring R&D institutes and universities closer together and align with the government’s goal of promoting I&T development. He added that he hopes both CUHK and ASTRI can take advantage of patented technologies to carry out influential, innovative projects that can meet the technological needs of enterprises and society, making a major contribution to the development of Hong Kong and the Greater Bay Area.
