February 22, 2024

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HKSTP and Japanese firm sign to strengthen Hong Kong’s IT ecosystem

According to a recent press release, the Hong Kong Science and Technology Parks Corporation (HKSTP) and a Japan-based Financial Group signed a Memorandum of Understanding (MoU) in Tokyo to enhance cross-market support for start-ups.

With this Memorandum of Understanding (MoU), HKSTP and the Japanese financial group will establish a win-win collaborative framework to foster interactions among start-ups, investors and other industry players from both regions.

Both parties will explore long-term strategic partnerships to support the growth of start-ups in both Hong Kong and Japan’s innovation and technology (I&T) ecosystems, and strengthen the cooperation covering key technology fields including fintech, biomedical technologies, robotics and smart city.

HKSTP and the Japanese financial firm will dedicate value-added support to start-ups extending from the exchange of talent and knowledge, support from incubation and acceleration programmes, investment matching, to access-to-market.

HKSTP will introduce a new fintech-focused cohort next year under its Global Acceleration Academy (GAA) – an initiative HKSTP currently partners with international industry leaders to develop thematic acceleration programmes – with the financial group being one of the partners to promote and encourage the development of Fintech solutions, projection adoption and commercialisation. Budding high-potential fintech start-ups from around the world can leverage on HKSTP’s and financial group’s networks to receive all manner of services including training, consultancy and mentorship as well as investment activities.

The Chief Executive Officer of HKSTP stated that the Park is wasting no time in pushing forward its plans in helping the Park’s start-ups grow to their fullest potential and enriching the area’s vibrant I&T ecosystem through various value-added services.

He noted that while the Park has just announced its resources deployment plan to accelerate the I&T development in Hong Kong, this MoU comes at the right time – exemplifying its efforts in providing deeper and broader services for start-ups through partnerships with leading enterprises.

The conversation that enabled the MoU to be signed is no longer about competition between markets to attract start-ups, he noted. Instead, it is more about how the two parties can collaborate with a global vision and help each other’s start-ups find their feet and succeed.

The Park’s will lend its support by helping the Japanese financial group refine their products, gain access to funding support, find the markets for their products, and support them as they scale upwards.

The CEO of HKSTP was confident that many positive outcomes will be achieved through this partnership with the financial group and the Park’s leadership looks forward to building more bridges with many more international companies to support the growth of the Park’s ecosystem and build Hong Kong as an international I&T hub.

Comprising Science Park, InnoCentre and Industrial Estates, Hong Kong Science & Technology Parks Corporation (HKSTP) is a statutory body dedicated to building a vibrant innovation and technology ecosystem to connect stakeholders, nurture technology talents, facilitate collaboration, and catalyse innovations to deliver social and economic benefits to Hong Kong and the region.

Established in May 2001, HKSTP has been driving the development of Hong Kong into a regional hub for innovation and growth in several focused clusters including Electronics, Information & Communications Technology, Green Technology, Biomedical Technology, Materials and Precision Engineering.

It has enabled science and technology companies to nurture ideas, innovate and grow, supported by its R&D facilities, infrastructure, and market-led laboratories and technical centres with professional support services. It also offers value-added services and comprehensive incubation programmes for technology start-ups to accelerate their growth.

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