Hong Kong Science and Technology Parks Corporation (HKSTP) and a multinational investment bank and financial services holding company are continuing their strategic partnership to launch SPRINTER 2, a programme which aims to accelerate innovation and transformation in Hong Kong’s small businesses and mid-cap corporates across several key industries, including manufacturing, infrastructure and logistics, to build a more resilient future.
The two-year programme will run in two cohorts, each involving training, matching with tech ventures and opportunities to co-create suitable business solutions. Cohort 1 focuses on the manufacturing sector and runs between October 2020 and July 2021. Cohort 2, which starts in the second half of 2021, is tailored for infrastructure and logistics sectors. The bank will proactively connect suitable commercial customers to these opportunities.
The partnership follows the first and highly successful SPRINTER, which accelerated the growth of technology companies and the investor community in Hong Kong. Running between 2017 and 2019, the programme has empowered close to 180 technology companies and 50 angel investors with expertise and networking opportunities. It also assisted selected technology companies to raise HKD138 million of investment.
The CEO of HKSTP stated that the Park is excited to partner with the bank to help growing corporates build resilience by leveraging innovation and technology at SPRINTER 2. Future success will increasingly depend on companies being quick to position their businesses for a world of new challenges, and where I&T will create the most value.
As Hong Kong’s flagship international acceleration programme, the Global Acceleration Academy, has been at the forefront of fostering rapid innovation through co-creation with its corporate partners and a deep pool of quality tech ventures from Hong Kong, and abroad.
The Head of Commercial Banking, at the Hong Kong branch of the firm, stated that making the most of the opportunities offered by new technology will be increasingly crucial for businesses to navigate challenges and thrive in the new normal. The bank is pleased to deepen its collaboration with HKSTP and further foster innovation in Hong Kong.
As a super-connector in the business community, it is believed that the bank can help play a key role in bringing established companies together with new expertise, revitalising key industries and boosting their organisational resilience for future growth.
SPRINTER 2 Cohort 1 will connect small businesses and mid-cap corporates in manufacturing with global tech ventures, aiming at revitalising this sector through three stages:
- Discovery: Participating manufacturers will receive training and upskilling on major technology trends such as artificial intelligence (AI), cybersecurity, data analytics, Internet of Things (IoT) and 5G, as well as robotics and automation.
- Matching: HKSTP will connect the participating manufacturers to market-proven innovative solutions that match their operational requirements. One-on-one meetings with technology companies will be arranged,
- Co-creation: To further address specific pain points and business needs, HKSTP’s Global Acceleration Academy (GAA) will recruit local and overseas tech ventures to join the participating manufacturers in a three-month acceleration programme. Tech ventures and manufacturers together will co-create tailored solutions that meet the sustainable values of their businesses and the industry.
The selected tech ventures will receive mentorship, as well as opportunities to conduct proof-of-concept trials with their partnered manufacturers. Their achievements in corporate innovation will be showcased at a Demo Day when Cohort 1 concludes.
