HKUST inks deals with Shanghai, Saudi incubators to boost its startups

A miniature cleaning robot, virus-detecting wearable sensors and smart bioelectronics dressing for healing wounds caught the eye at a Hong Kong event showcasing over 100 products developed by startups.It was also revealed at the Hong Kong University of Science and Technology (HKUST) Unicorn Day that the hosts had signed cooperation agreements and memorandums of understanding (MoUs) with incubation platforms in Shanghai and Saudi Arabia, as well as three Hong Kong companies, to bolster its startups and help them access domestic and global markets.Under one of the deals inked during the HKUST Unicorn Day, the university will establish an AI education hub and incubator at Shanghai’s Caohejing Hi-Tech Park, which is home to more than 14,000 domestic and overseas firms. The initiative is part of the HKUST Shanghai Center program earlier this year to cultivate talent for the innovation and technology industry.HKUST’s cooperation agreement with Beta Lab — a Saudi Arabian venture capital firm specializing in nurturing deep tech, which typically relates to startups focused on finding solutions to substantial scientific or engineering challenges — is expected to provide the university’s homegrown startups increased exposure to international resources and markets.The collaboration with Shanghai’s innovation incubator is part of HKUST’s strategy to deepen ties with tech-savvy cities in the Yangtze River Delta region, while also tapping into local alumni resources, said Tim Cheng Kwang-ting, vice-president for research and development at the HKUST.https://www.chinadailyhk.com/hk/article/584627