Strategic cooperation to co-incubate startups to success andnurture young tech talent
(Hong Kong, 26 August 2021) – Hong Kong Science & Technology Parks Corporation (HKSTP) has joined global electronics leader, Arrow Electronics (Arrow), in a memorandum of understanding (MoU) agreement to launch the HKSTP-Arrow GBACo-Incubation Programme to support 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 Arrowaims to unlock the region’s innovation potential in microelectronics with an end-to-end incubation process from R&D to manufacturing market-ready product 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 Parkin Dongguan, Guangdongand 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 startups 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. Startups will also undertake a series of thematic hands-on training sessions covering microelectronics, sensors technology, connectivity, edge platform, IoT devices and more.
Albert Wong, CEO at HKSTP said: “Our collaboration with Arrow, a leader in advanced electronics, is a major addition to our network of industry-leadingpartners 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 ensureimpactful end products with higher market success.”
Simon Yu, President, Arrow Electronics’ Asia Pacific Components Business, said: “Our co-incubation program with HKSTP reinforces our commitment to amplify technological capabilities for emerging startups and support young people to work and pursue careers with industry-leading tech companies in Hong Kong and the GBA. We hope to equip these local innovators and engineers 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 Arrow 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 HKSTP-Arrow partnership will help accelerate innovation, grow the talent pool and set startups 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.
Photo 1:Mrs Carrie Lam Cheng Yuet-ngor, GBM, GBS, Chief Executive, HKSAR attended HKSTP’s “Unlocking Greatness” MOU signing ceremony, reinforcing in her speech that these partnerships will help accelerate the innovation and technology (I&T) development in Hong Kong and the Greater Bay Area, and create more growth opportunities.
Photo 2:Under the witness of Mrs Carrie Lam Cheng Yuet-ngor, GBM, GBS, Chief Executive, HKSAR (back row, middle); Mr Alfred Sit, JP, Secretary for Innovation and Technology, Innovation and Technology Bureau, HKSAR (back row, right); and Dr Sunny Chai, Chairman of HKSTP (back row, left), Mr Albert Wong, CEO of HKSTP (front row, left) and Mr Simon Yu, President, Arrow Electronics’ Asia Pacific Components Business (1st row, right) signed a strategic memorandum of understanding (MoU) to launch the HKSTP-Arrow GBA Co-Incubation Programme to support expansion of start-ups in the GBA and create career opportunities for young ambitious technologists.
Photo 3:Mr Simon Yu, President, Arrow Electronics’ Asia Pacific Components Business, said the HKSTP-Arrow GBA Co-incubation Programme reinforces Arrow’s commitment to support emerging startups and young people in Hong Kong and the GBA.