Hong Kong Science & Technology Parks Corporation (HKSTP) has joined a global electronics leader in a memorandum of understanding (MoU) agreement to launch the HKSTP-Arrow GBA Co-Incubation Programme to support the expansion of start-ups in the GBA and create career opportunities for young ambitious technologists.
Themed “Unlocking Greatness: GBA Partnerships & Beyond” this partnership between HKSTP and the tech company aims to unlock the region’s innovation potential in microelectronics with an end-to-end incubation process from R&D to manufacturing market-ready products through to distribution.
HKSTP is embarking on a broad-sweeping co-incubation strategy that leverages the strengths of a combined network of industry and academic partners. Impactful partnerships of this kind will contribute significantly to building a thriving, competitive I&T ecosystem spanning Hong Kong and the GBA.
The co-incubation program features a brand new Open Lab facility at Songshan Lake Xbot Park in Dongguan, Guangdong and compliments an existing Open Lab at Science Park in Hong Kong. The new Open Lab will occupy over 1,500 square feet of lab space, with access to an additional 10,000 square feet of communal workshop space, enabling local and international start-ups to design, develop and test their products to capture the region’s huge potential market opportunity.
Equipped with state-of-the-art engineering equipment and testing modules, the new Open Lab will boost companies wishing to accelerate the buildout of technology capabilities. Start-ups will also undertake a series of thematic hands-on training sessions covering microelectronics, sensors technology, connectivity, edge platform, IoT devices and more.
The Albert Wong CEO at HKSTP stated that the Park’s collaboration with the leader in advanced electronics is a major addition to its network of industry-leading partners to create a world-class GBA-wide I&T ecosystem for Hong Kong. This initiative elevates the modern incubation process to a deeper engagement between start-ups and corporates as market-specific innovations are conceived and fully road-tested to ensure impactful end products with higher market success.
The President of the tech firm’s Asia Pacific Components Business stated that its co-incubation program with HKSTP reinforces its commitment to amplify technological capabilities for emerging start-ups and support young people to work and pursue careers with industry-leading tech companies in Hong Kong and the GBA.
The hope is that local innovators and engineers can be equipped with expertise, design-for-manufacturing support, and go-to-market resources that they need to unlock entrepreneurial opportunities and to design and build the technology of tomorrow.
The signing of the MoU will also see the tech company create new R&D job opportunities under the Hong Kong government GBA Youth Employment Scheme which opens young professionals to new career possibilities in technology across the Guangdong-Hong Kong-Macao region.
The unique partnership will help accelerate innovation, grow the talent pool and set start-ups on a direct path to success with a complete program of R&D, manufacturing support through to “real-world” applications that are fully commercialised and market-ready.
Recent market research predicted the global microelectronics market would grow with a CAGR of 12.0% over the forecast period of 2020-2026. It was noted that key drivers are the low cost and low weight associated with the microelectronics components as well as the growing applications in construction, automotive and electronic industries.
