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HKSTP and Global Tech Firm Partner to Empower I&T Start-ups

Image Credits: HKSTP, Press Release

Hong Kong Science and Technology Parks Corporation (HKSTP) has partnered with the Hong Kong arm of an American multinational technology corporation to launch a series of initiatives to empower high-potential start-ups in their pursuit of innovation and global expansion. The joint support addresses start-up’s critical challenges of product development, go-to-market distribution and access to technology.

The CEO of HKSTP noted that this strategic collaboration further enhances the Hong Kong I&T ecosystem as emerging start-ups from the HKSTP community gain unparalleled access and support from the global technology pioneer. As one of the key I&T enablers in Hong Kong, HKSTP strives to build a vibrant ecosystem by connecting leading corporates with tech start-ups to collaborate, innovate and catalyse ideas through to impact.

The General Manager of the tech giant’s Hong Kong and Macau branch added that start-ups are central to its 30-year journey in Hong Kong. Their success is key to enable Hong Kong’s business community to achieve more together.

With innovation and entrepreneurship as the city’s intrinsic values, this partnership with HKSTP will deepen the company’s support to local start-ups, showcasing Hong Kong’s creativity and advancement in technology to the world.

The collaboration combines the company’s innovation, global co-sell and go-to-market expertise with HKSTP’s I&T ecosystem network and shared R&D facilities and infrastructure to provide HKSTP start-ups with access to three specific initiatives:

  • The firm’s software for Start-ups: a global programme dedicated to helping B2B start-ups scale their companies through technology enablement and go-to-market support. Qualifying start-ups will receive a package of benefits, including free Azure credits, cloud solution license for internal use or testing, and an extensive network of technology consultants and resources for go-to-market.
  • Co-incubation programme: a 6-month co-incubation programme offering technical and business development support for HKSTP’s potential incubatees
  • Special offer of the firm’s solutions: Special offers of the tech giant’s solutions are on shelves at HKSTP Marketplace – a one-stop marketplace for tech ventures to find essential services during the challenging entrepreneurial journey

During the pilot phase of this collaboration, a number of local start-up ventures have already been enrolled. A total of seven HKSTP incubatees have been admitted to the Co-incubation programme. The first programme is open for enrolment throughout the year while the Co-incubation programme is open for enrolment every six months.

Under the collaboration, technical workshops will also be organised to equip programme members of HKSTP InnoAcademy with the knowledge and skills about the company’s technologies, in order to empower young talent to master emerging technologies. HKSTP InnoAcademy aims to boost Hong Kong’s I&T competitiveness with a sustained series of programmes, including training and value-added support to upskill technology talent from various sectors into future leaders.

InvestHK’s Annual Report 2020 noted that the COVID-19 pandemic has transformed the way of doing business and brought about changes, challenges as well as opportunities that are unprecedented.

During the year, Invest Hong Kong committed in mission and action to walking together with companies and entrepreneurs from around the world who have shown interest in setting up and expanding their businesses in Hong Kong. As a whole, it has completed 317 projects helping them to establish its foothold in the city, creating about 8 000 jobs within these companies’.

Encouraging growth in the number of start-ups in Hong Kong was also recorded. Between 2017 and 2020, the number has surged by over 50 per cent. Hong Kong is now home to over 3,300 start-ups, as well as over 600 FinTech companies.

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