Cyberport and PolyU sign MoU to foster collaboration among industry, academia, research, investment and applications, accelerate technology commercialisation and maximise effectiveness of start-up incubation

24 Jan 2025

Events Knowledge Transfer and Entrepreneurship Office

Cyberport and PolyU signed a MoU to establish a strategic partnership. Witnessed by Simon Chan, Chairman of Cyberport (2nd from right, back row), Prof. Jin-Guang Teng, PolyU President (2nd from left, back row), Ir Arthur Lee, PolyU Council Member and Chairman of PolyU Knowledge Transfer Committee (1st from left, back row) and Hendrick Sin, Chairman of the Cyberport Investors Network Steering Group (1st from right, back row), the MoU was signed by Dr Rocky Cheng, CEO of Cyberport (right, front row) and Prof. Christopher Chao, PolyU Vice President (Research and Innovation) (left, front row).

Simon Chan, Chairman of Cyberport, said, “The partnership between Cyberport and PolyU perfectly combines our strengths. It aligns with government policies to support start-ups, empower their R&D transformation, nurture I&T talent, and advance the collaboration among the Government and the industry, academia, research and investment sectors. Together, we enhance the city’s I&T ecosystem and accelerate the development of new quality productive forces.”

Prof. Jin-Guang Teng, PolyU President, remarked, “By integrating Cyberport’s extensive networks and PolyU’s expertise in research and innovation, we aim to cultivate a vibrant ecosystem that fosters industry-academia-research collaboration. Together, we will further nurture entrepreneurs and start-ups, contributing to Hong Kong’s development into a global I&T hub.”

Prof. Christopher Chao, PolyU Vice President (Research and Innovation), introduced the Knowledge Transfer and Entrepreneurship Ecosystem at PolyU and the details of the collaboration with Cyberport.

Cyberport and The Hong Kong Polytechnic University (PolyU) today (24 Jan) signed a Memorandum of Understanding (MoU) to establish a strategic partnership. Both parties intend to co-develop acceleration programmes, establish a joint lab, invest in PolyU-nurtured start-ups and augment I&T talent training, aiming at nurturing start-ups, facilitating commercialisation of research outcomes, and enlarging the innovation and technology (I&T) talent pool. The partnership signifies a shared goal of advancing Hong Kong’s I&T ecosystem by promoting collaboration among industry, academia, research, investment, and applications, thereby contributing to the development of Hong Kong as an international I&T hub.

Witnessed by Simon Chan, Chairman of Cyberport, Prof. Jin-Guang Teng, PolyU President, Ir Arthur Lee, PolyU Council Member and Chairman of PolyU Knowledge Transfer Committee and Hendrick Sin, Chairman of the Cyberport Investors Network Steering Group, the MoU was signed by Dr Rocky Cheng, CEO of Cyberport and Prof. Christopher Chao, PolyU Vice President (Research and Innovation).

Simon Chan, Chairman of Cyberport, said, “The HKSAR Government has been promoting a closer collaboration among the Government and the industry, academia, research and investment sectors to create a favourable environment for I&T development in the city. As Hong Kong’s digital technology flagship and incubator for entrepreneurship, Cyberport not only houses over 2,100 start-ups but also has a vast network of investors and enterprises. We have been nurturing start-ups by connecting them with the industry and facilitating their commercialisation of R&D outcomes. The partnership between Cyberport and PolyU perfectly combines our strengths. It aligns with government policies to support start-ups, empower their R&D transformation, cultivate I&T talent, and advance the collaboration among the Government and the industry, academia, research and investment sectors. Together, we enhance the city’s I&T ecosystem and accelerate the development of new quality productive forces.”

Prof. Jin-Guang Teng, PolyU President, remarked, “PolyU’s unwavering commitment to innovation, entrepreneurship and knowledge transfer is exemplified by our successful track record of promoting entrepreneurship through PolyVentures, our flag-ship start-up ecosystem. Over the years, we have successfully nurtured over 500 start-ups, including four unicorns, and trained over 7,600 entrepreneurs. Our comprehensive support encompasses every stage of the entrepreneurial journey -- from education and ideation to incubation, acceleration, and fundraising. By integrating Cyberport’s extensive networks and PolyU’s expertise in innovation and research, we aim to cultivate a vibrant ecosystem that fosters industry-academia-research collaboration. Together, we will further nurture entrepreneurs and start-ups, contributing to Hong Kong’s development into a global I&T hub.”

Under the MoU, Cyberport and PolyU will partner with leading accelerators to co-develop acceleration programmes that support PolyU-nurtured start-ups in fundraising and product development. The inaugural programme will focus on cutting edge technologies. Both parties will also proactively promote a close collaboration among various stakeholders, including those of the Cyberport Enterprise Network and PolyVentures, to drive technology adoption and commercialisation in key sectors such as AI and Big Data, Smart City solutions, Digital Entertainment, FinTech, Blockchain, and Cybersecurity. Moreover, they will support the entry of I&T projects into various funding and supporting schemes in the two ecosystems. They will also explore co-investment opportunities among Cyberport Macro Fund, Cyberport Investors’ Network, and PolyU Entrepreneurship Investment Fund, with a particular focus on PolyU-nurtured start-ups and those utilising PolyU’s intellectual property at Cyberport.

Talent is the cornerstone of I&T development. Both parties will collaborate to provide tailor-made training and internship opportunities for PolyU students, enriching their practical experience and empowering them to apply their learning in the workplace. This initiative will also enhance the alignment between industry-required skillset and the content of teaching and learning. Furthermore, PolyU and Cyberport Academy will join hands to offer related courses to fortify students’ and PolyU start-ups’ capabilities and development in I&T and entrepreneurship.

In addition, both parties will leverage Cyberport’s extensive industry network and PolyU’s outstanding research capabilities and venture capital experience to accelerate relevant research and its application. A joint lab will be established by Cyberport, PolyU, and their venture capital partner, Two Square Capital, to support start-ups in Web3.0 and AI areas. This initiative includes a donation from Two Square Capital to PolyU with the aim of advancing its research, development, and commercialisation efforts. Cyberport will also provide industry network, physical collaborative space and opportunities for industry engagement to foster the growth of young entrepreneurs. The joint lab aspires to drive innovation through advanced research on Blockchain-AI integration, explore scalable and energy-efficient infrastructure, develop specific AI models, and deploy decentralised applications (dApps) to showcase practical blockchain solutions.