Witnessing the thriving growth of the city’s entrepreneur circle, HKSTPC spearheaded the set up of TPP with 19 partners, including 13 co-working spaces such as CoCoon, Paperclip and Nest; and 6 local universities, namely The University of Hong Kong, The Chinese University of Hong Kong, City University of Hong Kong, Hong Kong University of Science and Technology, Hong Kong Polytechnic University and Hong Kong Baptist University. These committed partners all pledged to establish closer ties to better serve the young technology enterprises in Hong Kong.
Under this Programme, we will extend our comprehensive support and services to technology start-ups of the TPP partners located across Hong Kong; on the other hand, the technology enterprises in Science Park could also get access to the diversified resources provided by the TPP partners.
TPP aims at creating greater synergy through resource sharing. It responds to the common needs and challenges faced by technology start-ups through a wide range of services, which fall into six key categories: investment and fund raising, business development, soft landing services and laboratory support, coaching and training, promotion and community outreach, and consultation for admission of incubation programmes. All of which are crucial to start-ups at their inception stage.
TPP marks HKSTPC’s milestone and commitment in expanding our comprehensive support to technology entrepreneurs beyond the geographical boundaries of Hong Kong Science Park. With TPP, we are building one of the most extensive networks for technology entrepreneurs in Hong Kong. Through connecting the industry, fostering collaborations and nurturing talents, Science Park is no longer just a technology hub in Shatin, but a robust base that radiates the vibrant ecosystem of innovation and technology to the entire start-up community.
We will keep reaching out to other key players in the technology start-up community and introduce to them this exciting Programme. We are confident that the number of partners signing up for TPP will be on the rise.
How were the partners (co–working spaces, universities) selected? Can additional partners join this program?
We spearheaded the setup of TPP to extend our reach and support to the entire technology start-up community beyond the geographical boundary of Hong Kong Science Park.
We therefore welcome participation from industry players or organisations from the start-up community, academic institutes or R&D centers, who share our vision, mission and passion to back the young technology entrepreneurs in Hong Kong.
Interested parties are most welcome to contact us at 2629 6733 or email to firstname.lastname@example.org.
How can a technology startup engage with this programme?
We set up this TechnoPreneur Partnership Programme with the concept of resource sharing such that both start-ups under our well-established Incubation Programmes in Science Park, and technology entrepreneurs from our TPP partners located across Hong Kong could benefit from it.
For technology start-ups based in community out of Science Park, once their community has signed up as a partner of TPP, just like CoCoon, Paperclip and Nest, these start-ups will be entitled to a wide range of support and services we offer at Science Park. These cover six key areas including investment and fund raising, business development, soft landing services and laboratory support, coaching and training, promotion and community outreach, and consultation for admission of incubation programmes.
For examples, these technology start-ups could attend the investment training and seminars we organise at Science Park on tips and tactics in looking for angel investment and venture capital. Business-matching services with access to our VC Partnership Programme and network of Hong Kong Business Angel Network (“HKBAN”) will also be available to them. In addition, they will be invited to join our industry exchanges and mingling events. Riding on our extensive network, they could get connected with potential customers to explore cross-disciplinary collaborations. Professional consultancy services will also be provided to accelerate their business growth.
For young technology enterprises stationing in Sciene Park, through the TPP platform, they could also get access to the diversified resources offered by our TPP partners, such as the investment pitching nights our partners held regularly. Moreover, TPP provides them with various opportunities to stay connected with industry leaders, exchange ideas and industry updates with passionate and energetic entrepreneurs, sparking off even more innovative ideas and collaboration opportunities.
Can you share any stats with us about technology startup growth in Hong Kong?
We reckon Hong Kong’s entrepreneur circle has experienced a flourishing growth in recent years, which calls for more holistic support for young enterprises. TPP is therefore set up to answer this industry need. For example:
a) The number of newly set-up private companies has recorded a sharp increase of 76% over the past 5 years, from 98,000 in 2008 to 173,000 in 2013.
b) The number of co-working spaces in town also soared from less than 10 two years ago to 37 today, which is almost a quadruple increase.
c) At Science Park, we received over 100 applications for our Incubation Programmes just in the first half of the year. This has outnumbered the total applications we received in the previous year.
We reason that one of the major reasons for such encouraging growth is contributed by the advancement of sophisticated hardware development platforms handily available in the market, especially the growing maturity of 3D printing, which significantly lower the costs of prototyping. This eventually helps lower the barrier of entry for young entrepreneurs with limited resources, allowing more bright minds to turn their ideas into innovative products.
What are the hot technology startups in HK to watch? Could you name one or two?
For any start-ups to succeed, it is crucial that they keep pace with the mega technology trends.
In this regards, backed by Hong Kong’s long-standing strength in electronics and information technologies, start-ups that are involved in big data analytics, cloud computing, wearable medical devices, and health care monitoring systems for the elderly in respond to the growing aging population will be the hottest technologies to look out for. Added to the list would be green technology which addresses the challenges of global climate change, and the exciting robotic sector that combines R&D of a number of technical expertise such as electronics, IT, biomedical science and so on.
Hong Kong is a city known for agility and creativity. Entrepreneurs are constantly looking out for business opportunities. In our Incubation Programmes alone, we see numbers of companies engaging in the above-mentioned areas, which fit perfectly with the growing demand for better living quality and increasing awareness of social responsibilities. A couple of success stories taking place at Science Park include:
1) Rehab Robotics Company Limited
Its invention “Hand of Hope” advances robotic and neuroscience technology, providing stroke patients a brand new way to restore movement of their hands. Originated from the R&D project of Hong Kong Polytechnic University, “Hand of Hope” was the first Hong Kong invention awarded the Grand Award at the International Exhibition of Inventions of Geneva back in 2012 throughout the event’s 40 years of history.
2) Insight Robotics Ltd
Established by a young graduate of Chinese University of Hong Kong and his partner, the company specialises in developing “Insight Computer Vision Wildfire Detection System”, performing around-the-clock surveillance in forestry to minimise fire incidents.
More success stories from Science Park could be viewed here:
Interview with Allen Yeung – Vice President, Business Development and Technology Support, Hong Kong Science and Technology Parks Corporation
About Allen Yeung
At Hong Kong Science and Technology Parks Corporation, Allen is responsible for incubating innovative technology startup companies, creating synergies among industry and academic sectors, and providing advanced laboratory support facilities for innovation and technology development. In this capacity, he works with government organisations, non-profit organisations, industry, associations, and investment community to extend the vibrant technology ecosystem of Science Park to the entire community in Hong Kong .
Allen has over 25 years of extensive business and management experience across different sectors such as angel investment, venture capital and private equity investment; information technology, semiconductor and electronics. He started his career in Silicon Valley, where he served at several multinational companies including Seagate Technology, LSI Logic, and Cadence Design Systems. Prior to joining HKSTPC, he was an investment consultant for a US private equity firm.
Allen holds an Executive MBA degree from the Kellogg School of Management, Northwestern University – HKUST, a Master degree of Science in Electrical Engineering from Purdue University, and Bachelor degree of Science in Electrical Engineering from the University of Texas, Austin.He is the Founding Chairman of the Hong Kong Business Angel Network (HKBAN), and key member and advisor for a number of industry associations and universities.