City University of Hong Kong (CityU) and the Hong Kong Applied Science and Technology Research Institute (ASTRI) have signed a Memorandum of Understanding (MoU), deepening their collaboration to develop new research projects by integrating their research and development (R&D) capabilities and intellectual property (IP). The collaboration aims to support the development of start-up companies groomed by CityU’s HK Tech 300 programme, a large-scale flagship innovation and entrepreneurship programme, to promote Hong Kong’s innovation and technology (I&T) development. Three HK Tech 300 start-ups have signed letters of intent to explore collaboration with ASTRI.

CityU Vice-President (Administration) and ASTRI Chairman Mr Sunny Lee Wai-kwong said, “I am glad to see CityU and ASTRI collaborate to support the incubation of start-up companies in the HK Tech 300 programme by tapping into their enriched R&D experience and abundant IP. I believe the cooperation of academia and the research centre will help nurture more talents and entrepreneurs in the I&T industry. I look forward to witnessing the robust growth of these start-up companies, providing Hong Kong and the whole region with greater momentum to become an international I&T hub.”

“CityU’s research and innovation achievements are well recognised, and the University is committed to promoting technology innovation and knowledge transfer. HK Tech 300 provides various forms of support to encourage participating start-ups to convert CityU’s research achievements and technology into products and services. I am glad that CityU and ASTRI are further strengthening their collaboration to synergise each other’s research strengths, join hands in R&D, and promote technology transfer to the benefit of HK Tech 300 start-ups and other start-ups, facilitating I&T in Hong Kong and beyond,” said Professor Michael Yang Mengsu, CityU Vice-President (Research and Technology) and Executive Committee Chairman of HK Tech 300.

Dr Denis Yip, Chief Executive Officer of ASTRI, said, “ASTRI has been supporting enterprises, start-up companies, and government departments with high-quality applied research to improve their operational efficiency. I am excited to witness the in-depth collaboration between ASTRI and CityU, which will foster the integration of CityU's basic research and ASTRI's applied research, and advance the commercialisation of research outcomes, thus boosting smart city development.”

Earlier, Professor Yang and Dr Yip signed an MoU on behalf of CityU and ASTRI, witnessed by Mr Lee. Both parties will use their patented technologies and integrate their respective R&D advantages to develop new projects by creating synergy in IP collaboration. They will share any IP derived according to their respective inventive contributions. Both parties will strive to promote the transfer of technology and support various industries in tech-driven transformation. In furtherance of the MoU, CityU and ASTRI will work closely to advance the growth of start-up companies in HK Tech 300.

ASTRI has sophisticated technologies in a number of fields, such as trust and AI technologies, communications technologies, IoT sensing and AI technologies, and integrated circuits and systems. It has supported many start-up companies under the HK Tech 300 programme by providing professional advice on technological innovation and the formulation of technological solutions, and has helped in developing prototypes and conducting subsequent testing.

ASTRI signed letters of intent to explore collaboration with three HK Tech 300 start-ups that are interested in using ASTRI’s patented technologies and IP in their business development. Albacastor Technology Limited, established by CityU alumni, plans to utilise the UVC reflector technology to decompose pollutants in kitchens and public places, and monitor pollution. AniTech Limited, established by CityU alumni and researchers, plans to develop AI screening models to enhance the successful rate of drug development and speed up the commercialisation process, which can be used by universities and R&D departments of pharmaceutical companies. Alpha AI Technology Limited plans to utilise optical inspection technology to detect defects and damage in the automotive and manufacturing process.

ASTRI will continue to provide comprehensive support for start-up companies under the HK Tech 300 programme and bridge them with industry to help them promote their technological solutions in the market.

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About CityU and HK Tech 300

CityU is ranked among the best universities internationally and is committed to nurturing and developing the talents of students and creating applicable knowledge to contribute to social and economic advancement. CityU puts particular emphasis on professional education and research, covering business, creative media, data science, energy and the environment, engineering, the humanities and social sciences, law, science, and veterinary medicine and life sciences. According to the National Academy of Inventors 2020, CityU is ranked 51st among the top 100 worldwide universities granted US utility patents and top among local universities for the fifth consecutive year.

Under the theme “Venture Beyond Boundaries”, HK Tech 300 is a large-scale flagship innovation and entrepreneurship programme launched by CityU for aspiring entrepreneurs among CityU students, alumni, research staff and others to establish start-ups and ignite their entrepreneurship journey. HK Tech 300 aims to create 300 start-ups in three years with an allocation of HK$500 million, providing educational and growth opportunities for CityU students and other young people in Hong Kong, and translating CityU research results and intellectual property into practical applications.

Over 1,000 people have participated in entrepreneurship training since the programme was launched in March 2021 and over 200 teams have been awarded seed funding worth $100,000 each to embark on their entrepreneurship journey. Over 30 start-ups have been selected to receive Angel Fund investment worth up to $1 million each to develop and validate their business models.

For more information about CityU and HK Tech 300, please visit: www.jvrhmfr.xyz and www.jvrhmfr.xyz/hktech300

About ASTRI

The Hong Kong Applied Science and Technology Research Institute (ASTRI) was founded by the Government of the Hong Kong Special Administrative Region in 2000 with the mission of enhancing Hong Kong's competitiveness through applied research. ASTRI’s core R&D competence in various areas is grouped under four Technology Divisions: Trust and AI Technologies, Communications Technologies, IoT Sensing and AI Technologies, and Integrated Circuits and Systems. It is applied across six core areas: Smart City, Financial Technologies, Intelligent Manufacturing, Digital Health, Application Specific Integrated Circuits, and the Metaverse.

Over the years, ASTRI has nurtured a pool of research and I&T talents and has received numerous international awards for its pioneering innovations and outstanding business and community contributions. As at the end of the 2020/21 financial year, ASTRI transferred almost 800 technologies to industry and was granted over 900 patents in mainland China, the US, and other countries.

For further information, please visit: www.astri.org.

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