HKSTP and Ant Group Launch Strategic Collaboration to Support Hong Kong’s Startups

Photo 1: Albert Wong, CEO of HKSTP (left) and Jennifer Tan, the Executive Vice President of Strategy Development and Government Affairs, GBA of Ant Group (right) announced a strategic collaboration to help local startups succeed in taking their ideas to the market, as well as facilitating the development of Hong Kong into an international I&T hub.

(Hong Kong, 4 November, 2021) – Hong Kong Science and Technology Parks Corporation (HKSTP) announced a strategic collaboration with Ant Group, making it easier for local startups to overcome obstacles and succeed in taking their ideas to the market, as well as facilitating the development of Hong Kong into an international I&T hub.

Under the terms of the initiative, HKSTP will provide venue and logistics support, and facilitate discussions with promising startups in its roster of over 1,000 tech-driven ventures participating in incubation programmes. As a technology-driven company which takes innovation as its gene and spares no effort in promoting the development of open platforms for inclusive financial services, Ant Group will provide business insight and practical resources, such as platform access for proof-of-concept testing and the possibility of equity investment.

“HKSTP is delighted to partner a world-class leader in Ant Group as the owner of Alipay, one of the biggest digital payment platforms worldwide. The combination of our extensive startup ecosystem, knowledge and vibrant community with Ant Group’s deep financial services and technology strength, will usher a wave of new fintech opportunities and innovation for entrepreneurs in the GBA and beyond,” said Albert Wong, CEO of HKSTP.

“This new strategic collaboration is fully in line with the goals of Ant Group which has always been aware of its responsibility to society. Along with a local university, we provided more than 100 technical job vacancies for its fresh graduates and alumni, in a bid to help nurture the city’s young talents last month,” said Jennifer Tan, the Executive Vice President of Strategy Development and Government Affairs, GBA of Ant Group. “We look forward to working closely with HKSTP, and helping Hong Kong’s vibrant startup community to harness the potential of innovation and technology to create game changing businesses.”

“By sharing and leveraging Ant Group’s operational experiences in Chinese mainland coupled with its well-established ecosystem, we can assist local or foreign next-gen FinTech startups to set foot in the GBA, which is in line with the “GBA InnoExpress” programme promoted by HKSTP. Meanwhile, riding on our overseas investments, we can also help entrepreneurs to go global, especially in the ASEAN region,” said Tan.

The programme will kick off with online meetings and mutual visits with Ant Group executives to discuss potential business opportunities. Future possibilities may include holding industry showcases to highlight excellence and exploring creative solutions to help HKSTP companies grow their infrastructure or products through channels such as IP licensing and joint development agreements.

The realization that before long every business will be a digital business has triggered an innovation & technology gold-rush. Existing enterprises are racing to reinvent themselves, while startup entrepreneurs are dreaming up entirely new businesses that are tailor-made for the 21st century.

“The HKSAR Government has made its goal of transforming Hong Kong into a recognized international I&T hub abundantly clear. Initiatives like the new strategic collaboration between HKSTP and Ant Group represent a powerful tool to help make that happen and ensure a prosperous future,” said Wong.