HKUST and Gobi Partners Launch Gobi-Redbird Innovation Fund to Accelerate Commercialization of Cutting-Edge Research
The Hong Kong University of Science and Technology (HKUST), Hong Kong Investment Corporation Limited (HKIC), and Gobi Partners (Gobi) today announced the launch of a new strategic fund focused on early-stage start-ups incubated at the University. The Gobi-Redbird Innovation Fund (Gobi-RIF) aims to propel university-born technologies into global markets, bridging cutting-edge academic discoveries with industry-driven scalability to deliver transformative solutions worldwide.
As the second venture investment fund under the Redbird Innovation Fund (RIF) framework, the Gobi-RIF Fund is dedicated to accelerating commercialization across four high-impact sectors: biotechnology, Industry 4.0, artificial intelligence and robotics, and fintech. The fund combines HKUST's world-class research capabilities and innovation ecosystem with Gobi Partners' pan-Asian expertise and leadership in venture capital operating across 16 strategic locations in Asia.
This initiative is supported by the HKIC as part of the "Patient Capital Strategic Fund", announced by the HKIC in May 2025 during its International Forum for Patient Capital. HKIC is a Patient Capital institution wholly owned by the HKSAR Government, with a dual mandate: to seek financial return and to contribute to the long-term competitiveness and economic vitality of Hong Kong.
The Gobi-RIF Fund has already identified a pipeline of promising ventures, including Lymow, a developer of robotic lawn mowers excelling in North American markets, Atom Semiconductor, a fabless design house specializing in analog signal-chain integrated chips, and Stellerus Technology, a space-grade satellite solution provider on advanced AI meteorological technologies, all originating from HKUST. Managed by Gobi Partners, the Gobi-RIF Fund will employ proactive investment strategies to enhance Hong Kong’s innovation impact across the Greater Bay Area and beyond.
Bridging Academia and Industry for Global Impact
Ms. Edith SHIH, HKUST Council Vice-Chairperson and RIF Chairperson, hailed the launch of the fund as a success. “Our collaboration with Gobi Partners and HKIC reinforces HKUST's commitment to positioning Hong Kong as a premier innovation and technology hub. By harnessing our academic excellence and strategic funding mechanisms, we aim to advance global collaboration and drive transformative innovations that serve both local and international communities, solidifying Hong Kong's role on the global stage."
Prof TAM Kar-Yan, HKUST Vice-President for Administration and Business, emphasized the University's commitment to advancing Hong Kong's innovation and technology landscape, "HKUST has been at the forefront of deep tech innovation, consistently translating cutting-edge research into promising start-ups. The Gobi-RIF Fund enhances these efforts by providing the necessary capital and resources to transform academic insights into real-world solutions, thereby strengthening our innovation ecosystem. This collaboration uniquely positions us to accelerate Hong Kong's new industrialization initiative.”
Mr. Thomas G. TSAO, the Co-founder and Chairperson of Gobi, said “The trio of Hong Kong, Shenzhen, and Guangzhou were recently named as the world’s top innovation hub by the World Intellectual Property Organization (WIPO). Key to that was the number of venture capital deals, which means ideas are able to go from research projects to real-world products and services. Gobi is proud of its long-term partnership with HKUST and the HKIC. The Gobi-RIF Fund continues our mission of closing the gap between universities and commercialization.”
Gobi Managing Partner Mr. Chibo TANG added, “The Gobi-RIF Fund marks another milestone in Gobi’s commitment to university innovation and early-stage start-ups in Hong Kong. Though historically underestimated, Hong Kong’s university ecosystem is rapidly gaining prominence on a global scale. In partnership with HKUST, Gobi is proud to give university researchers the capital and network they need to commercialize their innovations.”
Ms. Clara CHAN, CEO of the HKIC said, “We are pleased to witness the launch of the Gobi-RIF, which is part of the “Patient Capital Strategic Fund” initiative we announced in May 2025. Hong Kong is home to many world-class universities which groom promising talents and innovation. The HKIC is leveraging the strengths of Hong Kong and proactively curating synergies among different sectors in our ecosystem including investment, academia and research, with a view to accelerating the flywheel effect regarding talents, capital and opportunities. The Gobi-RIF Fund, which involves Gobi Partners and HKUST, is a vivid case on this front. More stories will come in the future.”
About The Hong Kong University of Science and Technology
The Hong Kong University of Science and Technology (HKUST) (https://hkust.edu.hk/) is a world-class university that excels in driving innovative education, research excellence, and impactful knowledge transfer. With a holistic and interdisciplinary pedagogy approach, HKUST was ranked 3rd in the Times Higher Education’s Young University Rankings 2024, 19th Worldwide and No.1 in Hong Kong in Times Higher Education’s Impact Rankings 2025. Thirteen HKUST subjects were ranked among the world’s top 50 in the QS World University Rankings by Subject 2025, with “Data Science and Artificial Intelligence” holding the 17th place, maintaining its position as first in Hong Kong. Our graduates are highly competitive, consistently ranking among the world’s top 30 most sought-after employees. In terms of research and entrepreneurship, over 80% of our work was rated “Internationally excellent” or “world leading” in the latest Research Assessment Exercise 2020 of Hong Kong’s University Grants Committee. As of July 2025, HKUST members have founded over 1,900 active start-ups, including 10 Unicorns and 17 exits (IPO or M&A).
About HKUST Redbird Innovation Fund
Launched in April 2024, the HKUST Redbird Innovation Fund (RIF) with a fund size of HK$500 million committed by HKUST, seeks to create multiple venture investment funds in collaboration with investment partners and invest in the HKUST start-up companies focusing on Seed to Series A/B stages.
About HKIC
The HKIC was established and is wholly owned by the HKSAR Government. As Patient Capital, it carries a dual mandate - seeking reasonable financial return in the medium to long term through optimising the use of fiscal reserves, and leveraging its ability to guide and channel capital to build a more vibrant innovation and technology ecosystem and industry chain.
The HKIC manages HK$62 billion currently, covering the “Hong Kong Growth Portfolio”, “Greater Bay Area Investment Fund”, “Strategic Tech Fund” and “Co-Investment Fund”. At this stage, it is focusing on three key sectors, namely Hard and Core Technology, Biotech, and New Energy and Green Technology.
About Gobi Partners
Gobi Partners is an Asia-focused venture capital firm with US$1.6 billion in Assets Under Management (AUM). Headquartered in Kuala Lumpur and Hong Kong, the firm supports entrepreneurs from the early to growth stages and focuses on emerging and underserved markets.
Founded in 2002, Gobi has raised 24 funds and invested in over 400 startups with 62 operating in the Circular Economy. Gobi has grown to 16 locations across key markets in Bangkok, Beijing, Dhaka, Guangzhou, Ho Chi Minh City, Hong Kong, Jakarta, Karachi, Kuala Lumpur, Lahore, Manila, Seoul, Shanghai, Shenzhen, Singapore and Tianjin.
As a Participant in the United Nations Global Compact, Gobi Partners is committed to aligning strategies and operations with universal human rights, labour, environment, and anti-corruption principles to ensure long-term value creation and sustainability across its portfolio. The firm launched its fourth Sustainability Report in August 2025.
For more information about Gobi Partners, please visit https://gobi.vc
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