[Hong Kong, 11 April 2022] The Hong Kong Applied Science and Technology Research Institute (ASTRI) and City University of Hong Kong (CityU) have signed a Memorandum of Understanding (MoU), deepening their collaboration to develop new research projects by integrating their research and development (R&D) capabilities and intellectual property (IP). The collaboration aims to support the development of start-up companies groomed by CityU’s HK Tech 300 programme, a large-scale flagship innovation and entrepreneurship programme, to promote Hong Kong’s innovation and technology (I&T) development. Three HK Tech 300 start-ups have signed letters of intent to explore collaboration with ASTRI.
ASTRI Chairman and CityU Vice-President (Administration) Ir. Sunny Lee Wai-kwong, JP, said, “I am glad to see ASTRI and CityU collaborate to support the incubation of start-up companies in the HK Tech 300 programme by tapping into their enriched R&D experience and abundant IP. I believe the cooperation of academia and the research centre will help nurture more talents and entrepreneurs in the I&T industry. I look forward to witnessing the robust growth of these start-up companies, providing Hong Kong and the whole region with greater momentum to become an international I&T hub.”
Dr. Denis Yip, Chief Executive Officer of ASTRI, said, “ASTRI has been supporting enterprises, start-up companies, and government departments with high-quality applied research to improve their operational efficiency. I am excited to witness the in-depth collaboration between ASTRI and CityU, which will foster the integration of CityU’s basic research and ASTRI’s applied research, and advance the commercialisation of research outcomes, thus boosting smart city development.”
“CityU’s research and innovation achievements are well recognised, and the University is committed to promoting technology innovation and knowledge transfer. HK Tech 300 provides various forms of support to encourage participating start-ups to convert CityU’s research achievements and technology into products and services. I am glad that CityU and ASTRI are further strengthening their collaboration to synergise each other’s research strengths, join hands in R&D, and promote technology transfer to the benefit of HK Tech 300 start-ups and other start-ups, facilitating I&T in Hong Kong and beyond,” said Professor Michael Yang Mengsu, CityU Vice-President (Research and Technology) and Executive Committee Chairman of HK Tech 300.
Earlier, Dr. Yip and Professor Yang signed an MoU on behalf of ASTRI and CityU, witnessed by Ir. Sunny Lee. Both parties will use their patented technologies and integrate their respective R&D advantages to develop new projects by creating synergy in IP collaboration. They will share any IP derived according to their respective inventive contributions. Both parties will strive to promote the transfer of technology and support various industries in tech-driven transformation. In furtherance of the MoU, ASTRI and CityU will work closely to advance the growth of start-up companies in HK Tech 300.
ASTRI has sophisticated technologies in a number of fields, such as trust and AI technologies, communications technologies, IoT sensing and AI technologies, and integrated circuits and systems. It has supported many start-up companies under the HK Tech 300 programme by providing professional advice on technological innovation and the formulation of technological solutions, and has helped in developing prototypes and conducting subsequent testing.
ASTRI signed letters of intent to explore collaboration with three HK Tech 300 start-ups that are interested in using ASTRI’s patented technologies and IP in their business development. Albacastor Technology Limited, established by CityU alumni, plans to utilise the UVC reflector technology to decompose pollutants in kitchens and public places, and monitor pollution. AniTech Limited, established by CityU alumni and researchers, plans to develop AI screening models to enhance the successful rate of drug development and speed up the commercialisation process, which can be used by universities and R&D departments of pharmaceutical companies. Alpha AI Technology Limited plans to utilise optical inspection technology to detect defects and damage in the automotive and manufacturing process.
ASTRI will continue to provide comprehensive support for start-up companies under the HK Tech 300 programme and bridge them with industry to help them promote their technological solutions in the market.
Dr. Denis Yip (left), Chief Executive Officer of ASTRI, and Professor Michael Yang Mengsu (right), CityU Vice-President (Research and Technology), sign the MoU, witnessed by Ir. Sunny Lee Wai-kwong, JP, (middle), ASTRI Chairman and CityU Vice-President (Administration).
Attending the online MoU Signing Ceremony between CityU and ASTRI are (top row, from left) ASTRI CEO Dr. Denis Yip; Ir. Sunny Lee Wai-kwong, JP, ASTRI Chairman and CityU Vice-President (Administration); and Professor Michael Yang Mengsu, CityU Vice-President (Research and Technology); (second row, from left) CityU Associate Vice-President (Strategic Research) and Chairman of the HK Tech 300 Investment Sub-committee Professor Michael Tse; ASTRI Chief Technology Officer Dr. Lucas Hui; and CityU Associate Vice-President (Chinese Mainland Affairs Office) and Chairman of the HK Tech 300 Incubation Sub-committee Dr. Laura Lo; (bottom row, from left) ASTRI Strategy Director Mr. Ivan Lam; CityU Knowledge Transfer Office Acting Director Professor Johnny Ho; and ASTRI Marketing Director Ms. Phoebe Yip.
Representatives from the three HK Tech 300 start-up companies that signed letters of intent to explore collaboration with ASTRI: (top row, from left) Dr. Eddie Ma and Dr. Kumar Gajendra from AniTech Limited; and (bottom row, from left) Mr. Peter Cheung from Albacastor Technology Limited, and Mr. Desmond Ho from Alpha AI Technology Limited.