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PolyU Partners to Nurture Innovation and Entrepreneurship

Image Credits: PolyU, Press Release

The Hong Kong Polytechnic University (PolyU) and a Hong Kong-based foundation recently signed a Memorandum of Understanding (MoU) that aims to foster the development of Hong Kong’s innovation and technology (I&T) ecosystem, cultivate student- and researcher-led innovation and entrepreneurship, facilitate Hong Kong’s integration into the Greater Bay Area (GBA) and support the implementation of the National 14th Five-Year Plan that seeks to actively transform Hong Kong into an international I&T hub.

The partnership merges the advantages and resources of both institutions. Through the Hong Kong InnoX Academy, a non-profit educational institution wholly owned by the Foundation, the parties will collaborate in I&T education, incubation and investment funding. The partnership will also provide young I&T entrepreneurs with all-around support and assistance through regular activities such as entrepreneur workshops, company visits, seminars and mentorship schemes.

PolyU is one of the first Hong Kong universities to create a seed funding programme. In 2011, the University introduced the PolyU Micro Fund Programme to instil an innovative and entrepreneurial atmosphere within the PolyU community. The University strives to inspire new ideas among students and translate academic research into practical applications through knowledge transfer and technology commercialisation for the benefit of society.

The Foundation shares a vision with PolyU in terms of driving an innovative and entrepreneurial ethos. The Foundation is devoted to reinforcing Hong Kong’s I&T ecosystem in the digital era by supporting young I&T talents and entrepreneurs; promoting I&T development in the GBA; encouraging young people to seek innovation and entrepreneurial opportunities in the Nation, overseas and in Hong Kong; and assisting young I&T entrepreneurs in their I&T journey by offering appropriate platforms.

The MoU was signed by the Executive Vice President of PolyU and the Vice-president of the Foundation’s owner, the Executive Director of the Foundation and the Project Lead of Hong Kong InnoX Academy at the signing ceremony.

The Executive Vice President of PolyU stated that with support from the Nation and the strong promotion of the HKSAR government, Hong Kong’s I&T industry has entered a new stage of development. PolyU has been dedicated to nurturing I&T talents, and this adheres to the same philosophy and vision of the Foundation.

The two parties have been closely collaborating in multiple areas, such as the FYP+ (Final Year Project+) to support students in turning their graduation projects into entrepreneurial projects, the InnoX Camp to groom scientific and technological talents, and joint investments in PolyU start-ups.

The signing of the MoU means that the parties will combine their expertise in promoting I&T to nurture more talents, optimise the I&T ecosystem in Hong Kong and the GBA, and create better opportunities for the younger generation, she said.

The Project Lead of Hong Kong InnoX Academy stated that the Foundation has been serving the creative community in Hong Kong and the GBA on a non-profit basis and has directly supported over 240 innovative projects in the past six years.

The signing of the MoU with PolyU has built a solid foundation for cooperation and helped to explore more ways to collaborate. Looking ahead, the Foundation aims to provide more career options for university students and young people via the collaboration of both parties. This is expected to help Hong Kong to become a global innovation and technology hub.

The parties will continue to promote innovation and entrepreneurship among students and researchers and support them in realising their full potential and entrepreneurial dreams. They will foster the translation of academic research into real-life applications to benefit society through I&T.

The two parties also hope to contribute to Hong Kong’s transformation into an international I&T hub and support the city’s integration into the GBA and the Nation’s development, helping to open a new chapter for Hong Kong’s I&T development.

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