HKSTP and G-Rocket Join Forces to Nurture Tech Ventures and Ignite the Digital Economy Growth

(Hong Kong, 24 July 2023) – The Hong Kong Science and Technology Parks Corporation (HKSTP) and accelerator, G-Rocket Global Accelerator (G-Rocket), are pleased to announce the signing of a co-incubation agreement to support the ongoing development of Hong Kong’s digital economy. In his recent Budget speech, the Financial Secretary highlighted digital economy as one of the strategic directions for Hong Kong’s economic development, recognising the enormous growth potential of digital innovation. 

The joint partnership sees HKSTP and G-Rocket join forces to ignite growth in the city’s digital economy. Over the past 20 years, HKSTP has cultivated successful Innovation and Technology (I&T) companies, formed strong local and international partnership networks and played a pivotal role in building a vibrant ecosystem to propel the success of Hong Kong into an international I&T hub.

Under the agreement, each year G-Rocket will refer 20 qualified tech ventures for integration into the HKSTP ecosystem. Through collaborative incubation efforts, G-Rocket and HKSTP will grow startups in the digital economy sector. The objective is to facilitate their growth not only in Hong Kong, but also in the Greater Bay Area and beyond. Established in 2016, G-Rocket is a global accelerator based in Hong Kong, which have seven accelerator bases across China providing diversified support for start-up ventures. G-Rocket focuses on assisting domestic and overseas high-quality and competitive high-tech companies to expand their businesses in the Greater China market, covering artificial intelligence (AI), big data, blockchain, robotics, fintech, medtech and other areas.

Additionally, G-Rocket will provide training sessions to HKSTP companies and incubatees, offering consultancy, as well as business matching opportunities. G-Rocket representatives will also serve as mentors for companies under HKSTP's existing mentorship programme.

Albert Wong, CEO of HKSTP, said: "The 14^th Five-Year Plan and Hong Kong’s I&T Development Blueprint has made the city’s digital economy a top development priority. Our partnership with G-Rocket marks a significant milestone in the city’s smart city and digital economy ambitions. By leveraging G-Rocket's expertise and network, along with HKSTP's established ecosystem, the collaboration will create a vibrant digital innovation environment for startups to thrive and flourish.”

Dr Johnny Ng, Co-founder of G-Rocket, said: "Hong Kong is at a golden starting point for advancements in the digital and virtual assets industry. The national 14^th Five-Year Plan supports and clearly outlines Hong Kong’s vision of becoming an international I&T Hub. We are confident that this collaboration will nurture I&T talent, empowering innovative digital economy companies in Hong Kong, Mainland China and overseas markets, bring forth remarkable opportunities and propel Hong Kong's position in the digital landscape."

HKSTP is already paving the path to a thriving digital future by improving the core foundation of Hong Kong’s digital economy - data. The establishment of “Data Community” by STP Platform under HSKTP is the city’s first neutral digital innovation environment with independent data governance. This is delivering vital seamless data interconnection capabilities that will maximise cross-industry data collaboration and exchange, while ultimately allowing Hong Kong to explore its digital innovation potential to the full.