February 21, 2024

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HKSTP has signed MoUs with Japanese tech giant and bank

A recent report made note that the Hong Kong Science and Technology Park has entered collaboration agreements with a Japanese tech manufacturer and a Japanese bank and financial group during a trade mission to Japan.

During the visit, HKSTP signed a memorandum of understanding with the tech company to jointly develop a smart city data platform.

The collaboration will be based on HKSTP’s multi-source data integration open platform, which is designed to provide neutral data sharing infrastructure to accelerate smart city development and data-driven innovation.

The Park will seek to leverage the Japanese tech company’s cloud infrastructure to ensure the platform is open and adaptable and can act as a framework for building big data analytics platforms, and that the data within the platform is neutral and managed with good governance.

The agreement was signed in Tokyo during the Smart City ABCD (Artificial intelligence, Blockchain, Cloud and Data) session jointly organised by HKSTP and Hong Kong Trade Development Council as part of the annual “Think Global, Think Hong Kong” trade mission.

The CEO of HKSTP was noted to have said that HKSTP and the Japanese tech company are embarking on an unprecedented partnership between the public and private sector in co-creating data architecture for data acquisition, engineering and sharing.

He also noted that the platform serves to enrich data sources to enable data-driven Smart City innovation in the areas of Smart Mobility, Smart Environment, Smart Living and Smart People. It also generates insights and solutions beyond proof of concept to derive a greater range of applications.

This is in line with the goals set out in Hong Kong’s Smart City Blueprint which aims to embrace innovation and technology to build a world-famed Smart Hong Kong characterised by a strong economy and high quality of living.

The objectives are to make people happier, healthier, smarter and more prosperous, and the city greener, cleaner, more livable, sustainable, resilient and competitive; to enable the business to capitalise on Hong Kong’s renowned business-friendly environment to foster innovation, transform the city into a living lab and test bed for development; to provide better care for the elderly and youth and foster a stronger sense of community. To make the business, people and Government more digitally enabled and technology savvy, and to consume fewer resources and make Hong Kong more environmentally friendly, while maintaining its vibrancy, efficiency and liveability.

Meanwhile, HKSTP has signed an agreement with the Japanese financial group aimed at jointly nurturing high potential technology startups from both Hong Kong and Japan, with a focus on key fields including smart city, fintech, biomedical technologies, and robotics.

The two companies plan to dedicate support to startups including incubation and acceleration programs, investment matching, knowledge exchange and access-to-market support.

Mizuho will be one of the partners for next year’s planned new fintech focused stream of HKSTP’s Global Acceleration Academy initiative.

“We are wasting no time in pushing forward our plans in helping our start-ups grow to their fullest potential and enriching our vibrant I&T ecosystem through various value-added services,” Wong said.

“While we have just announced our resources deployment plan to accelerate the I&T development in Hong Kong, this MoU comes at the right time – exemplifying our efforts in providing deeper and broader services for start-ups through partnerships with leading enterprises.”


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