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HKSTP Partners Shenzhen and HK Governments to Foster I&T Collaboration

Image Credits: HKSTP, Press Release

Hong Kong Science and Technology Parks Corporation (HKSTP) welcomes the joint initiative between the Shenzhen and HKSAR governments and fully supports the measures to attract talent and promote innovation and technology (I&T) in the Greater Bay Area (GBA).

With support from the governments of both cities, HKSTP and the Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone Development Co. Ltd. have signed a framework agreement recently, to develop a Shenzhen branch of Hong Kong Science Park, to boost I&T development in the GBA.

The CEO of HKSTP stated that creating a thriving international I&T hub is critical for the development of the Greater Bay Area. With Hong Kong’s advantage as an international gateway within the GBA, Hong Kong Science Park Shenzhen Branch will play a strategic role in forging Hong Kong and GBA integration, assisting start-ups and technology companies in expanding their footprint in the fast-growing region.

Closer cooperation between Shenzhen and Hong Kong is vital to the future economic success of the GBA and will build on the encouraging opportunities for talent development that are already emerging from the two cities.

HKSTP and Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone Development Co., Ltd, will maximise the distinct advantages of the two cities within the Shenzhen-Hong Kong Innovation and Technology Co-operation Zone (the Co-operation Zone), establishing “one zone, two parks”, and further the growth of the I&T in the GBA. Hong Kong Science Park Shenzhen Branch will provide office space, laboratories, hardware support, as well as business matching and technical support for companies setting up in the GBA.

Prior to the completion of the Shenzhen Branch, Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone Development Co., Ltd. will provide shared office space within the Co-operation Zone, so start-ups, small and medium-sized enterprises, and leading technology companies with GBA expansion plans can swiftly settle in Shenzhen.

HKSTP is also proactively supporting the joint initiatives to grow the region’s talent pool by setting up InnoAcademy of the GBA in the Shenzhen Branch, providing comprehensive services to I&T talent of both sides, covering three important functions of a resource centre, a training hub, and an exchange platform. HKSTP will also establish InnoExpress of the GBA to provide business development support to I&T enterprises from the two cities.

These initiatives help to continue to nurture the next-generation I&T talent, as well as attract local and international enterprises to set up in the Co-operation Zone and build up the GBA into an I&T talent hub.

With closer co-operation between Shenzhen and Hong Kong, HKSTP will support companies in nurturing talent, as well as combining Hong Kong’s advantages in basic research and global market reach, with Shenzhen’s advanced manufacturing and commercialisation capabilities. Through these collaborative efforts, HKSTP targets to contribute to the GBA’s competitiveness and development into an international R&D and business hub.

With a total gross domestic product of US$1.7 trillion (HK$13.2 trillion) in 2020 and a population of over 80 million, the bay area is home to a host of technology companies, including social media and gaming giants, drone makers, smartphone manufacturers, and telecom powerhouses, a recent report notes. The region is fertile for I&T investment and an influx of local and international tech talent.

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