The University of Hong Kong (HKU) proudly announced its partnership with the first group of investors under the Entrepreneurship Engine Fund (EEF) during a signing ceremony held on December 18, 2024. This significant initiative marks a transformative milestone in HKU's commitment to fostering innovation and entrepreneurship, with three esteemed partners—CASSTAR, Inno Tech Fund, and Beyond Ventures—collectively pledging HK$370 million to support HKU-affiliated start-ups.
The ceremony featured remarks from prominent university officials, including Prof Xiang Zhang, President and Vice-Chancellor, and Mrs Margaret M.Y. Leung Ko, Treasurer and Chairperson of the Finance Committee. Both leaders emphasised the importance of collaboration between academia and industry to nurture the next wave of deep-tech innovations.
Prof Zhang stated, "We celebrate not just the formalisation of partnerships but the beginning of an extraordinary journey to foster innovation at HKU today. The EEF is a cornerstone initiative to nurture seed and early-stage deep-tech start-ups, providing essential support during their critical phases."
The EEF will channel "patient capital" into high-potential ventures, leveraging the expertise and networks of its partners to facilitate the translation of academic research into commercial success. This initiative is part of HKU's broader strategy to solidify its position as a leader in the region's innovation and technology landscape.
In her congratulatory message, Mrs Leung highlighted the EEF as a testament to the university's vision of instilling an innovation culture within the HKU community. She thanked the partners and stakeholders for their commitment to educating the next generation of change-makers.
Prof Max Shen, Vice-President and Pro-Vice-Chancellor, closed the ceremony by reflecting on the university's progress over the past few years. He noted that the signing of the EEF partnership agreement is a significant step towards HKU's goal of becoming a global powerhouse of innovation. He acknowledged the dedicated efforts of the Techno-Entrepreneurship Core (TEC), which has been instrumental in advancing HKU's innovation ecosystem.
The EEF initiative is expected to open doors for high-potential start-ups, creating a vibrant ecosystem that fosters groundbreaking solutions and impactful research. As HKU continues to attract world-class scholars and emerging entrepreneurs, the university is poised to play a pivotal role in the Greater Bay Area's rise as a global innovation hub.
