Hong Kong and Austria sign MoU to strengthen co-operation in technology start-up ecosystems

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Originally published here. The Secretary for Innovation and Technology, Mr Nicholas W Yang, and the State Secretary of the Federal Ministry of Science, Research and Economy of Austria, Dr Harald Mahrer, signed a Memorandum of Understanding (MoU) in Vienna today (May 24, Vienna time) to strengthen bilateral co-operation between the Hong Kong Special Administrative Region and Austria in technology start-up ecosystems.

Under the MoU, Hong Kong and Austria will strengthen the co-operation between technology start-ups, incubators, early-stage investors like business angels and venture capital funds, start-up promotion agencies and spin-off centres of both places by facilitating the networking of all target groups and providing relevant information for them. They also agreed to collaborate in exchange of expertise and knowledge of the local markets as well as facilitation of the internationalisation efforts of technology start-ups in the respective markets.

Mr Yang started the second day of his visit to Vienna by visiting SeniorTab to study smart city initiatives in Austria to promote ageing in place.

Mr Yang held a meeting with the Head of Staff Group for Technology Transfer and Security Research of the Federal Ministry for Transport, Innovation and Technology, Dr Gernot Grimm, to exchange views on e-government and strategies in information and communications technology.

At a spotlight session at the Pioneers Festival, a major annual event for future technologies and entrepreneurship in Austria, Mr Yang joined a panel discussion on the globalisation of start-up ecosystems. Other speakers included Dr Mahrer; Head of SigmaLabs and founder of the first municipal accelerator in the world, Israel, Mr Tair Kowalsky; Regional Director, Head of Edge, AIA Hong Kong, Mr Steve Monaghan; and the Director and Head of Alliance Strategy, Innovation Management Department, NTT DoCoMo, Japan, Ms Yayoi Kamimura.

This was followed by a meeting with Co-founder and Chief Executive Officer of the Pioneers Festival Mr Andreas Tschas.

Officiating at an Invest Hong Kong reception at the Pioneers Festival, Mr Yang introduced to some 100 guests the vibrant start-up scene in Hong Kong and encouraged Austrian businesses to take good advantage of Hong Kong's gateway role to reach the vast markets of Mainland China and across the Asian region.

Held at Hofburg Imperial Palace, the Pioneers Festival aims to promote technological innovation by bringing together more than 2 500 leaders in the innovation and technology sector.

Having completed his visit, Mr Yang will leave Vienna tonight and arrive in Hong Kong tomorrow night (May 25).

Ends/Tuesday, May 24, 2016 Issued at HKT 21:25