HKSTP Joins Global Leaders Avnet and ORIX to Nurture Promising Startups and Form a GBA-wide Hardware and Digital Technologies Eco-system

HONG KONG SAR – Media OutReach – 17 December 2021 – Hong Kong Science and Technology Parks Corporation (HKSTP) is forming a
series of strategic partnerships with global leaders such as leading technology
distributor and solutions provider Avnet and diversified financial services
group ORIX to foster a new wave of engineering talent and fast-rising startups
in the advanced hardware and digital technologies sectors. The combination of
technology, manufacturing market know-how and investment financier will propel
promising startups on their growth journey and establish the Greater Bay Area
(GBA) as a leading innovation hub for advanced hardware and digital
technologies.

 

Photo 1: Mr. Peter Mok, Head of
Greater Bay Area, HKSTP (right), and Mr. Alan Chui, Supplier Business
Management President, Avnet Asia, officiate at the strategic co-incubation
agreement signing ceremony to drive innovation and build a thriving hardware
and electronics eco-system across the GBA.

Located at the
centre of the world’s leading manufacturing powerhouse with Shenzhen and the
huge market potential of China at its doorstep, Hong Kong and the broader GBA
region is a haven for hardware and digital technologies startups. But
challenges remain in accessing funding, market support, talent and
manufacturing R&D expertise, especially for niche and emerging technology
areas. Aviation is one new area among many in which HKSTP is collaborating with
sector leaders on to develop Hong Kong and the GBA into an innovation and
technology hub.

 

Photo 2: Mr. Peter Mok, Head of Greater Bay Area, HKSTP (middle), Mr.
Alan Chui, Supplier Business Management President, Avnet Asia (3rd
from left), and Mr Adrian Pang, Managing Director, ORIX Asia Limited (4th
from right), join fellow industry leaders and ecosystem participants in the
official activation ceremony at the Hardware Journey Eco-System – GBA Expansion
Kickoff Event.

HKSTP and Avnet have formally signed a co-incubation
agreement to combine Avnet’s design
and technical expertise with HKSTP’s extensive startup development experience
to propel technical talent and startups on their journey of growth. Selected
startups can leverage Avnet’s global ecosystem and network to capture new partnerships
and market opportunity in the GBA region. For a start, Avnet will also partner
microelectronics leaders AMD, TE Connectivity and Xilinx to provide startups
with expertise in aviation and next-generation Hybrid CPU-FPGA technology and significant
support in accelerating their innovation from research to testing and
high-quality manufacturing.

To drive momentum in this emerging ecosystem,
HKSTP is also partnering Japanese financial services group ORIX to tap its
financial and investment expertise to help startups go global and to engage the
high-potential Japanese market. ORIX is a strategic partner in HKSTP’s GBA
expansion and focus on new digital solution innovation, with its continued investments
into high quality startups. The formation of such partnerships will be a
further catalyst to accelerate innovation in the ecosystem, with aviation as a
high-potential starting point.

Albert Wong,
CEO, HKSTP said: “Our partnerships with multiple sector leaders highlight the enormous
market potential in the GBA and provide the ideal platform for startups to tap
into the world-class talent, resources and market opportunities in this region.
This combined ecosystem of hardware and electronics expertise will help young
pioneers and engineers realise their innovation dreams and elevate the GBA as a
global innovation powerhouse.”

Alan Chui,
Supplier Business Management President of Avnet Asia said, “Avnet is a
long-term partner of HKSTP and has jointly supported many startup companies.
Through this agreement, we will be able to equip startups and aspiring
technologists with the necessary knowledge and resources to accelerate
technological innovation in the GBA and facilitate the commercialisation of
real-world applications.”

Adrian Pang,
Managing Director, ORIX Asia Limited said: “We, ORIX, believe digital
technologies are the key future driver and trend. With our diversified
expertise, global network and wealthy experience in supporting SMEs and
startups, ORIX is well positioned to incubate young companies through our
partnership with HKSTP, which we will bring synergy to our dynamic future
unicorn in Hong Kong and lead our economy to a new decade.”

This diverse
hardware eco-system will see prominent developments like Avnet setting up solutions
centre at Hong Kong Science Park Shenzhen Branch that will provide local and
international startups easy access to state-of-the-art engineering facilities
offered by Avnet and its partners. There will also be on-site application
engineers to offer technical solutions, reference designs and consultancy
services to enable these startups to get their products to market faster. Fast-rising HKSTP startup Aerosim, who specialises in
aviation training technology, will leverage the centre for aviation simulation technology
adoption support. Avnet and its partners will also contribute their hardware
components knowledge and work with Aerosim to develop civil aviation
technology.

Talent is a
critical factor for successful innovation and HKSTP is providing a technology
knowledge exchange platform in the GBA to nurture entrepreneurs in high quality
hardware components. The HKSTP GBA InnoAcademy will serve as a talent training
platform for the best entrepreneurs and engineers to fuel a new wave of
technical talent from Hong Kong and the GBA.

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