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HKUST Partners in Molecular Neuroscience, Sustainable Development and Microelectronics

Image Credits: HKUST, Press Release

Hong Kong University of Science and Technology (HKUST) and a China-based conglomerate company have signed a Memorandum of Understanding (MoU) to forge long-term strategic cooperation. The MoU was signed by HKUST’s President and the Board Chairman and Chief Executive Officer of the conglomerate company.

The collaboration leverages HKUST’s scientific capabilities and the firm’s cross-industry resources; it seeks to promote industrial applications by translating research findings into market-oriented products and services, thereby contributing to Hong Kong’s development into an international innovation and technology (I&T) hub.

The conglomerate company’s chairman stated that it is hoped that the collaboration will enable diversified industrial advantages to promote knowledge transfer of different research areas at HKUST, promote synergy among the research, academic and industry sectors, and enhance the momentum of Hong Kong’s I&T development.

The President of HKUST stated that the University is pleased to establish a strategic partnership with the conglomerate company’s Research Institute of Science and Technology in the fields of molecular neuroscience, sustainable development and microelectronics, and looks forward to establishing a joint research centre for brain science with the conglomerate company.

She noted that HKUST’s strengths in these areas strongly align with the strategic development goals of the firm, and she hopes that combining the University’s research and innovation capabilities with the company’s diversified industrial advantages will lead to technological breakthroughs and industrial development in these areas, thus contributing to the I&T development in Hong Kong and the nation and adding new momentum to the nation’s social and economic development.

Under the agreement, the two parties will form joint project teams to explore feasible collaboration plans on research and knowledge transfer in the fields mentioned above. The conglomerate will also provide internship or job opportunities for HKUST students and graduates and consider establishing scholarships. Meanwhile, the firm’s Hong Kong Business School will also explore the possibility of setting up executive training programs – including open classes with the HKUST, in efforts to promote the grooming of business and innovation talent.

Recent research found that the demand for the global Neuroscience Market was valued at approximately US$26.2 Billion in 2021 and is expected to reach a value of around US$38.8 Billion by 2030, at a compound annual growth rate (CAGR) of about 4.7% during the forecast period 2022 to 2030.

The growing incidence of neurological disorders cases, including Alzheimer’s, and Parkinson’s diseases, along with other dementias contribute to the growth of this market. In addition, several national governments are implementing supporting initiatives to create awareness about neurological diseases as well as the existing treatment possibilities among the citizens.

Another report notes that the global microelectronics market size was valued at US$318.15 billion in 2021 and is expected to surpass around US$455.67 billion by 2030 with a registered CAGR of 4.1% from 2022 to 2030.

The growth and expansion of the electronics industry are paving way for the growth of the global microelectronics market. The governments of developed and developing economies are pushing for the expansion of the semiconductor industry. This directly impacts the growth of the global microelectronics market.

About The Hong Kong University of Science and Technology 

The Hong Kong University of Science and Technology (HKUST) research-intensive university that focuses on science, technology and business as well as humanities and social science. HKUST offers an international campus, and a holistic and interdisciplinary pedagogy to nurture well-rounded graduates with a global vision, a strong entrepreneurial spirit and innovative thinking.

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