PolyU and Cyberport signed an MoU to establish a strategic partnership. Witnessed by Mr 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 (left, back row) and Mr Hendrick Sin, Chairman of the Cyberport Investors Network Steering Group (right, back row), the MoU was signed by Dr Rocky Cheng, CEO of Cyberport (right, seated) and Prof. Christopher Chao, PolyU Vice President (Research and Innovation) (left, seated).Zoom In

Hong Kong’s innovation landscape is set to get stronger following the launch of a new strategic partnership between PolyU and Cyberport to enhance technology development in the city. Under a Memorandum of Understanding (MoU) signed in late January, the two organisations will co-develop acceleration programmes, establish a joint lab, invest in PolyU-nurtured startups, and enhance innovation and technology (I&T) talent training.

 

Advancing I&T

This partnership marks an important step in advancing Hong Kong's I&T ecosystem. By leveraging PolyU’s research and innovation excellence alongside Cyberport’s extensive industry network, the collaboration aims to accelerate Hong Kong's development as an international innovation and technology hub.

 

“The partnership aligns with government policies to support startups, empower their research and development transformation, cultivate I&T talent, and increase collaboration among the Government, industry, academia, research and investment sectors. Together, we enhance the city's I&T ecosystem and accelerate the development of new quality productive forces,” said Mr Simon Chan, Chairman of Cyberport.

 

Creating a comprehensive innovation ecosystem

The initiative links two powerhouses in Hong Kong’s I&T ecosystem. Cyberport, already home to over 2,100 startups, will work alongside PolyU's PolyVentures, which has cultivated more than 500 startups, 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,” said Professor Jin-Guang Teng, PolyU President.

 

Programmes will target cutting-edge technologies and drive technology adoption and commercialisation in key sectors, such as AI and Big Data, Smart City, Digital Entertainment, FinTech, Blockchain and Cybersecurity. The collaboration will also support the entry of I&T projects into various co-investment opportunities and funding schemes, including the Cyberport Macro Fund, the Cyberport Investors' Network, and the PolyU Entrepreneurship Investment Fund.

 

A cornerstone of the agreement is the establishment of a joint lab by PolyU, Cyberport and their venture capital partner, Two Square Capital, to support Web 3.0 and AI startups. Additionally, the partnership will strengthen talent development through tailored training programmes and internships for PolyU students, while offering specialised I&T and entrepreneurship courses through collaboration with PolyU and Cyberport Academy.

 

As it unfolds, this collaboration will highlight Hong Kong's dedication to promoting innovation and cultivating the talent essential for a technological future. In addition to marking a milestone in institutional partnerships, the development signifies a crucial step forward in the city’s quest to establish itself as a global hub for innovation and technology.