HKUST Visits Jiangsu and Receives Funds from Wuxi EDZ to Support Start-up Incubation and Enhance Industry-Academia-Research Collaboration | The Hong Kong University of Science and Technology

A high-level delegation led by the President of the Hong Kong University of Science and Technology (HKUST) Prof. Nancy IP paid a visit to Jiangsu Province this week with 20 HKUST DeepTech start-ups to showcase the University’s innovations and entrepreneurial achievements. During the trip, the start-ups explored potential business partnerships with over 100 local enterprises, and HKUST signed a cooperation agreement with the Wuxi Economic Development Zone (Wuxi EDZ) to jointly promote innovation and start-up incubation, fostering deeper collaboration among industry, academic and research sectors between Hong Kong and Jiangsu.

During the five-day trip, Prof. Ip was invited to speak at the “SmartHK Jiangsu-Hong Kong High-Quality Development Cooperation Conference” in Nanjing. In her speech, entitled “Building an Engine for Industry-Academia-Research Collaboration between Jiangsu and Hong Kong”, she presented an in-depth analysis of HKUST's achievements in research and innovation, along with a comprehensive assessment of Jiangsu Province's industrial strengths. Organized by the Hong Kong Trade Development Council (HKTDC), the Conference also featured distinguished guests including Financial Secretary Mr. Paul CHAN, HKTDC Chairman Dr. Peter LAM, and Chairman of the West Kowloon Cultural District Authority Board Mr. Henry TANG. 

HKUST has longstanding collaboration in research and knowledge transfer with partners in Jiangsu province. Building on the Memorandum of Understanding (MoU) signed with the Wuxi EDZ last year to jointly establish the Wuxi-Hong Kong Collaborative Innovation Center (Center), HKUST has entered another agreement with Wuxi EDZ to implement further collaboration details. Under the agreement, Wuxi EDZ will generously fund the Center’s operations to support the incubation of promising start-ups and businesses in Hong Kong. Policy support and collaboration opportunities will also be offered by Wuxi EDZ to encourage these companies to establish branches in Wuxi to commercialize their research outcome. Furthermore, regular field trips for the HKUST community to visit Wuxi, along with competitions and other activities, will be organized to foster a vibrant innovation ecosystem. 

Also accompanying the delegation were 20 DeepTech start-ups from HKUST, which not only participated in an I&T exhibition in Nanjing, but also had the invaluable opportunity to engage with key enterprises in Wuxi to explore potential collaborations with a view to expanding their markets. The business nature of these start-ups spans a diverse range of cutting-edge areas, including electronics, big data, environmental technology, robotics research and development, and life and health sciences. Among them, AtomSemi, a company founded by Prof. George YUAN, Associate Dean of Engineering (Research and Graduate Studies) at HKUST, has signed an investment contract with the Xinwu District of Wuxi, marking a significant new chapter for the start-up as a new branch in Wuxi will be established under the agreement for business expansion.

Prof. Nancy Ip was delighted by the fruitful outcomes of the visit, “Jiangsu Province, with its robust industrial foundation, abundant research and teaching resources, excellent business environment, and vast market potential, is actively developing emerging industries such as biomedicine and artificial intelligence—fields that closely align with HKUST's strategic priorities. This offers a vital opportunity to integrate HKUST's resources and expertise in building technological innovations with Jiangsu's industrial strengths to facilitate the implementation and application of research. Through our collective efforts, we aspire to accelerate the development of new quality productive forces and strengthen new growth drivers for the country.” 

HKUST Vice-President (Research and Development) Prof. Tim CHENG expressed his gratitude to Wuxi EDZ for their support. "The new agreement represents a significant milestone for HKUST’s longstanding efforts in promoting innovation and entrepreneurship. As always, HKUST is committed to cultivating a vibrant innovation ecosystem through core pillars including education, entrepreneurship competitions, intellectual property management and partnership with mainland and international organizations. We hope that these new resources and policy support will encourage more members of HKUST to engage in innovation, working towards the goal of incubating technologies in Hong Kong and commercializing in Wuxi for the benefit of society." 

HKUST has established close and extensive ties with Jiangsu Province over the years. Apart from education, the two parties have also forged collaborations on multiple fronts, covering innovation, technology and scientific research. These include strategic agreements signed with major cities such as Yancheng, Suzhou, Wuxi, as well as renowned institutions like Nanjing University and Southeast University to drive knowledge innovation, talent development, and industrial upgrading, facilitating efficient integration of resources and complementary advantages. 
 

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, while 12 of its subjects were ranked among the world’s top 50 in the QS World University Rankings by Subject 2024, with "Data Science and Artificial Intelligence" being ranked first in Hong Kong and 10th in the world. 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 June 2024, HKUST members have founded 1,747 active start-ups, including 10 Unicorns and 14 exits (IPO or M&A).