The Hong Kong Science and Technology Parks Corporation (HKSTP) has launched the HKSTP Co-Acceleration Programme, marking the city’s first Public-Private Partnership (PPP) in innovation and technology (I&T).
The initiative includes a new private fund managed by a HKSTP subsidiary licensed by the Securities and Futures Commission (SFC) as an Investment Manager of a Hong Kong Limited Partnership Fund (HKLPF).
The fund will target three key global sectors – Generative AI, Intelligent Connected Systems, and Sustainability—and aims to co-invest with private partners in promising startups based in Hong Kong.
The goal is to support these companies through their acceleration stage and enable them to scale internationally.
Speaking at the launch ceremony, Paul Chan, Financial Secretary of the Hong Kong SAR Government, said:
“By partnering with industry leaders to co-invest in high-potential start-ups, particularly in generative AI, intelligent connected systems and sustainability, the Fund amplifies our collective capacity to turn innovation into impact.”
Four initial partners have joined the programme: Cathay Technologies, Fook Man Development Company Limited, Hangzhou Industrial Investment Group, and Zhejiang Communications Investment Group.
These partners will contribute industry knowledge, funding, and regional insights to support the commercialisation and internationalisation of startups within HKSTP’s ecosystem.
More than 100 startups from mainland China are expected to be referred to the programme, while local startups will have the opportunity to access the mainland market.
Dr Sunny Chai, Chairman of HKSTP, said:
“By bringing these significant partners into our ecosystem, HKSTP is expanding its influence by blending capital, business expertise, and global market access. This public-private fund will propel Hong Kong’s most promising innovators onto the global stage, driving breakthroughs across key industries and reinforcing our city’s status as an international leading I&T hub.”
Alongside the programme, HKSTP unveiled “ARENA,” a platform featuring 23 selected startups.
ARENA serves as a permanent showcase within HKSTP, offering visibility to over 1,000 investors and corporate partners.
It is divided into five zones: Artificial Intelligence, Digital Transformation, Sustainable Materials & Technology, Advanced Electronics & Robotics, and Life & Health.
The platform is intended to facilitate business partnerships and investment.
Featured image credit: HKSTP
