Press Release

[Geneva/Hong Kong, 16 April 2024] The Hong Kong Applied Science and Technology Research Institute (ASTRI) is proud to announce its participation in the International Exhibition of Inventions Geneva, the world’s largest fair for innovation, from 17-21 April at PALEXPO. Building on last year’s huge success, ASTRI will showcase its latest smart technologies designed for the greater good.

“ASTRI’s mission is to harness the power of innovation and technology (I&T) to create a better future for all,” said Ir Sunny Lee, Chairman of ASTRI. “Our participation in this prestigious event demonstrates our commitment to developing innovative solutions that address global challenges and improve people’s lives.”

Supported by the central government’s policies and the Government of the Hong Kong Special Administrative Region’s commitment to evolving into a knowledge-based economy, Hong Kong is primed to become a pivotal regional technology transfer hub, Ir Lee added. This advancement leverages the city’s robust R&D capabilities, state-of-the-art technological infrastructure, and a comprehensive legal framework that safeguards intellectual property rights.

ASTRI’s exhibits include a diverse array of inventions, from AI and robotics to smart city applications and healthcare technologies. Among the 28 inventions vying for awards is an assortment of solutions aimed at addressing critical issues, enhancing productivity, and fostering sustainable growth.

Dr Denis Yip, Chief Executive Officer of ASTRI said the annual event serves as a nexus for innovators and potential partners, catalysing collaboration in the global I&T sector. “Our team of talented researchers and engineers has worked tirelessly to develop technologies that have the potential to transform industries and our communities. We look forward to engaging with businesses to encourage I&T adoption and explore new opportunities.”

Now in its 49th edition, the International Exhibition of Inventions Geneva draws exhibitors from 40 countries, presenting over 1,000 inventions. Jointly organised by the World Intellectual Property Organisation (WIPO), the Swiss Government, as well as the City of Geneva, the fair provides a platform for showcasing groundbreaking inventions and fostering global I&T collaborations. ASTRI’s booth is located at PALEXPO Hall 1, Booth A122.

Ir Sunny Lee, Chairman of ASTRI (third from left) and Dr Denis Yip, CEO of ASTRI (third from right) share the joy of ASTRI’s outstanding achievement of winning an unprecedented 34 awards at the International Exhibition of Inventions Geneva 2023

ASTRI’s booth design at International Exhibition of Inventions Geneva 2024

[15 April 2024, Hong Kong] The Hong Kong Applied Science and Technology Research Institute (ASTRI) celebrated the first anniversary of the Smart Mobility Technology (C-V2X) Alliance (SMTA) and unveiled Hong Kong’s first in-depth study on the development of connected and autonomous vehicles (CAV). Mr Lam Sai-hung, Secretary for Transport and Logistics of the HKSAR Government attended the event, highlighting the city’s commitment to revolutionising smart mobility within the Greater Bay Area (GBA).

Autonomous ride in West Kowloon Cultural District
Mr Lam emphasised the government’s commitment to integrating innovation in transportation, “The Government has paved the way for wider and more flexible trials and application of autonomous vehicles in Hong Kong by introducing a new regulatory regime for trial and use of autonomous vehicles and the new framework came into effect just last month. This marks a key milestone of the Government’s continued efforts in promoting smart mobility and demonstrates our great ambition and strong commitment to further application and adoption of autonomous vehicles in Hong Kong,” he affirmed.

ASTRI integrated 5G with C-V2X technology. It is now preparing to conduct road tests and a pilot run of autonomous shuttle buses in the West Kowloon Cultural District, from M+ to Hong Kong Palace Museum.

ASTRI leads C-V2X technology development
Ir Sunny Lee, Chairman of ASTRI, stressed the organisation’s leading role in developing and promoting C-V2X technology for smart mobility. He said ASTRI fostered collaboration among stakeholders in the ecosystem and conducted tests integrating autonomous driving technology into the city’s transportation infrastructure. In addition, ASTRI expanded its cooperation with Shenzhen to develop cross-border C-V2X technology, extending the application scenarios and network infrastructure to Futian, Bao’an, Longhua, and Pingshan districts. ASTRI also partnered with the government of Xiangcheng District in Suzhou to jointly build the “Suzhou-Hong Kong Digital Transportation Innovation Corridor”.

Ir Lee envisioned that once cross-border vehicle networking matures, smart mobility will be realised in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), achieving seamless interconnectivity among people, vehicles, and roads, and enhancing the convenience of cross-bay area autonomous driving. “Hong Kong can replicate its successful experience and export C-V2X technology and smart mobility solutions to ASEAN countries, helping them address urbanisation challenges.”

SMTA promotes smart mobility
The SMTA has been instrumental in bringing together government, industry, academia and research institutions to revolutionise transportation through innovation and technologies, enhance users’ travel experiences and support Hong Kong’s smart city ambition.

Dr Denis Yip, Chief Executive Officer of ASTRI, highlighted SMTA’s achievements in perfecting the smart mobility ecosystem, with the support of 12 organisations and over 80 institutional members. He said SMTA has launched six research projects in partnership with various universities and collaborated with the industry to promote the application of vehicle connectivity technology.

“We also conducted in-depth research on C-V2X technology, including completing 900,000 kilometres of road testing across 10 trial sites, providing valuable data for further technology enhancement. The alliance also organised an array of activities, such as missions to Guangzhou, Shenzhen, Suzhou and Wuxi, helping industry players expand their business networks and explore new opportunities,” Dr Yip added.

Hong Kong’s first CAV study
Hong Kong’s first comprehensive study on the development of connected and autonomous vehicles (CAV) shows promising growth potential. ASTRI commissioned Deloitte China to conduct the study, which was funded by the Innovation and Technology Fund under the Innovation and Technology Commission .

The report examines the key success factors of industry-leading countries, including Korea, Netherlands, Singapore, the United Kingdom, and the United States, while shedding light on the unique advantages and opportunities in Mainland China, especially in the GBA. It also analyses the latest CAV development in Hong Kong, focusing on policy and regulation, infrastructure, R&D capabilities, supply of talent and access to funding.

Pull factors of CAV development
Several pull factors of the city’s CAV development are identified, including:

• The establishment and implementation of the Road Traffic Regulation which help facilitate the wider trials and use of AVs in a safe and orderly manner.

• The city’s robust telecommunications infrastructure, characterised by a stable and extensive 4G/5G network, acts as a significant driving force for the CAV development.

• The city’s free flow of information and effective IP protection support knowledge sharing and innovation development, while providing protection for automakers and technology developers.

• Hong Kong’s positioning as the GBA advanced manufacturing centre, coupled with support from the region’s research community, enhance prototyping and manufacturing of key vehicle components while facilitating testing and technology transfer in Hong Kong.

• Hong Kong boasts highly-ranked universities and enjoys geographical proximity to other cities in the GBA, providing a pool of skilled graduates in disciplines relevant to CAV technology and fostering a cross-border exchange of knowledge and expertise.

• The HKSAR Government’s comprehensive I&T funding schemes facilitate the adoption of technology by local enterprises and organisations, further supporting the CAV development in Hong Kong.

“Through vehicle-to-everything technology, CAV has the potential to revolutionise the transportation sector by enhancing road safety, improving transport and energy efficiency, and uplifting the travel experience of local commuters,” Ir Sunny Lee stated, “With concerted efforts, Hong Kong’s autonomous driving technology is set to become one of the most sought-after solutions in the world.”

Calling on industry players to prepare for the unmet market demand and enormous growth opportunities, Dr Denis Yip added, “By embracing new opportunities, through enhancing the foundation, coordinating the deepening the development, and creating an environment supportive of CAV technologies and its associated markets, Hong Kong is poised to create unstoppable momentum towards an autonomous future and unlock its tremendous potential as a leading smart city in the world.”

Tech talk by experts
During the ceremony, ASTRI signed a Memorandum of Understanding with The Centre for Innovation in Transport (CENIT) in Spain, enhancing mutual collaboration in research, information sharing and talent exchange to develop efficient and sustainable smart city solutions.

The anniversary event also featured talks from industry experts, including Dr Sergi Saurí, Director of CENIT; Mr Joseph Lam, General Manager of Technical Services Systems at the Airport Authority Hong Kong; Mr Newton Ng, Commercial Director of Citybus Limited; Mr Luca Verre, Co-founder and CEO of Prophesee; Mr Dongzhe Su, Director of Smart Mobility, ASTRI; and Mr Falcon Chan, Hong Kong Consulting Strategy and Transformation Offering Leader, Deloitte China, who shared their perspectives on the future of smart mobility.

To learn more about the Smart Mobility Technology (C-V2X) Alliance, please visit: https://smta.astri.org/
Hong Kong Connected & Autonomous Vehicle (CAV) Development Study: https://bit.ly/3U0mja1

(From left to right) The Smart Mobility Technology (C-V2X) Alliance celebrated its first anniversary today (15 April) with distinguished guests, including Ir Sunny Lee, Chairman of ASTRI, Mr Lam Sai Hung, Secretary for Transport and Logistics, HKSAR Government, and Dr Denis Yip, Chief Executive Officer of ASTRI

Some 300 technology experts and leaders from the smart mobility ecosystem gather at HKCEC to celebrate the first anniversary of ASTRI’s Smart Mobility Technology (C-V2X) Alliance

Mr Lam Sai Hung, Secretary for Transport and Logistics of the HKSAR Government, speaks at the ceremony

Ir Sunny Lee, Chairman of ASTRI

Dr Denis Yip, Chief Executive Officer of ASTRI, introduces Hong Kong’s advances in smart mobility and CAV development

Dr Denis Yip, Chief Executive Officer of ASTRI and Dr Sergi Sauri, Director of the Centre for Innovation in Transport sign a MoU at the ceremony

ASTRI unveils Hong Kong’s first in-depth study on the development of connected and autonomous vehicles. (From left to right) Mr Robert Lui, Capital Market Services Group Hong Kong Leader, Deloitte China; Ir Sunny Lee, Chairman, ASTRI; Dr Denis Yip, CEO, ASTRI; Mr Falcon Chan, Hong Kong Consulting Strategy and Transformation Offering Leader, Deloitte China

Dr Sergi Sauri, Director of the Centre for Innovation in Transport analyses the role of smart solutions on urban mobility challenges
Mr Joseph Lam, General Manager, Technical Services Systems, Airport Authority Hong Kong shares his insights on innovative travel experiences powered by connected an autonomous vehicles

Mr Newton Ng, Commercial Director, Citybus Limited delivers a keynote speech on leveraging connected and autonomous vehicles technologies to improve traffic control and safety

Mr Luca Verre, the Co-founder and CEO of Prophesee introduces the next generation sensing technology for smart mobility

Mr Dongzhe Su, Director of Smart Mobility, ASTRI briefs the audiences on the development of CAV in Hong Kong the internationalisation of Chinese standards

[13 April 2024, Hong Kong] The Hong Kong Applied Science and Technology Research Institute (ASTRI) is at the forefront of this year’s Business of Innovation and Technology Week, a flagship event hosted by the Innovation, Technology and Industry Bureau of the HKSAR Government. ASTRI’s involvement is marked by its prominent presence at both the Digital Economy Summit (DES) and the InnoEX, which are taking place at the Hong Kong Convention and Exhibition Centre (HKCEC). At InnoEX, ASTRI is showcasing a range of attention-grabbing innovative technologies that promise to translate the smart city vision into reality.

ASTRI has co-hosted the “Energy, Environment & Mobility Forum” alongside the Smart City Consortium, and the “Smart Finance Forum” with and Cyberport during the DES, drawing some 500 influential figures from the global I&T community, including pioneering entrepreneurs, thought leaders, and investors.

The Roadmap to Smart Mobility and a Sustainable Future
The “Energy, Environment & Mobility Forum” focuses on the revolutionary role of smart mobility in advancing energy conservation and nurturing an eco-friendlier world through the integration of state-of-the-art technologies.

“At ASTRI, our mission is to bridge the gap between innovation and practical implementation. We strive to craft solutions that drive our economy forward and build a smarter city to improve people’s lives.” Dr Denis Yip, CEO, ASTRI, said at the Forum. “To achieve this vision, we recognise the importance of close collaboration with different stakeholders in the technology ecosystem. Together, we can explore opportunities for technology commercialisation and propel Hong Kong’s economic growth, bringing tangible benefits to society at large,” he added.

The forum featured Ms Suzanne Murtha, Vice President, Advanced Mobility, Payments Systems and Automation, AECOM and Dr Ming Li, Development Relationship Director, NVIDIA, who delivered keynote addresses on the topics of “eVTOL – Flying Vehicles Shaping the Future of Advanced Air Mobility” and “NVIDIA Grace Empowering New Energy Growth”, respectively. In addition, Mr Kenny Chan, Chief Director of Innovative Mind, ASTRI, Mr Dongzhe Su, Director of Smart Mobility, and Mr Simon Lee, Senior Director of FinTech, Prop Tech & Art-Tech, ASTRI, engaged in in-depth discussions with industry experts to delve into the latest advancements in electric and autonomous vehicles, intelligent transportation systems, and sustainable infrastructure. The conversations also covered how technology can optimise transportation networks, curb carbon emissions, and boost energy efficiency.

C-V2X, Digital Twin and AIGC in Focus
The centrepiece of ASTRI’s display at InnoEX is the vision of a future smart city, featuring trailblazing technologies in Cellular Vehicle-to-Everything (C-V2X) and autonomous driving. Visitors can experience the enhanced safety and convenience that smart mobility brings, through an interactive virtual autonomous driving game. The showcase also highlights other remarkable technologies, such as digital twin robotic arms, MetaBrain – a digital platform designed for managing extreme weather conditions – and generative artificial intelligence, which together create a comprehensive narrative of the smart city, spanning new industrialisation, digital urban governance, and creative expression, setting the stage for future developments.

The Digital Economy Summit (12-13 April) is jointly organised by the HKSAR Government and Cyberport, with ASTRI being one of the co-organisers, while the InnoEX (13-16 April) is organised by the HKSAR Government and the Hong Kong Trade Development Council (HKTDC). You can find ASTRI’s exhibition at booth C02 in Hall 3C of HKCEC.

ASTRI’s innovative technologies showcasing at InnoEX received overwhelming response. Dr Denis Yip, CEO, ASTRI (third from left) welcomes Mr Paul Chan, Financial Secretary (fourth from left), at the expo

Professor Sun Dong, Secretary for Innovation, Technology and Industry, Ir Tony Wong, Government Chief Information Officer, Ms Lillian Cheong, Under Secretary for Innovation, Technology and Industry and Ms Margaret Fong, Executive Director, of the Hong Kong Trade Development Council visit ASTRI’s booth at InnoEX, experiencing the enhanced road safety and convenience brought by Cellular Vehicle-to-Everything (C-V2X) technology in a virtual autonomous driving game

Dr Denis Yip, CEO, ASTRI, delivers a welcome speech at the “Energy, Environment & Mobility Forum” in the Digital Economy Summit

(From left to right) Dr Denis Yip, CEO, ASTRI, alongside Ms Diane Wong, Under Secretary for Environment and Ecology, HKSAR Government and Dr Winnie Tang, Founder & Honorary President of Smart City Consortium, at the “Energy, Environment & Mobility Forum”

[22 February 2024, Hong Kong] – The Hong Kong Applied Science and Technology Research Institute (ASTRI) has inaugurated a “FinTech and ESG Alliance” today to foster a dynamic platform for exchange and knowledge-sharing. This alliance aims to enhance engagement with regulators, policymakers, incubators and accelerators, FinTech start-ups and enterprises, as well as other stakeholders to promote technological collaboration and commercialisation, bolstering Hong Kong’s role as a world-leading green FinTech hub.

ASTRI was honoured to have the Hon Jeffrey Lam, Member, Executive Council and Legislative Council, HKSAR Government, as our Guest-of-Honour, together with over 400 experts and leaders from the academia, FinTech and the green sectors witness this special occasion. Distinguished representatives from the Hong Kong Monetary Authority, Invest Hong Kong and several financial institutions were invited to address the seminar. The discussion covered various topics such as the digital transformation of banking and insurance industries, digital asset, sustainable finance and related policy, heralding a new era of digital innovation in financial industry.

In the Policy Address 2023, the HKSAR Chief Executive highlighted the government’s commitment to driving green and sustainable finance in Hong Kong. In addition, Financial Secretary said earlier that building Hong Kong as an international green tech and green finance hub is one of the main goals in the coming year, as sustainability is a global agenda. “Alongside promoting the development of technological solutions and providing early-stage funding support for pre-commercialised green FinTech, we’re dedicated to expanding the green FinTech ecosystem and developing Hong Kong into a green FinTech hub,” said the Hon Jeffrey Lam, who also commended ASTRI for its significant contribution in this initiative.

“Our expertise in the financial sector spans a broad spectrum, providing diversified financial products and services in banking, investment, insurance and others, which exemplifies our role as Asia’s green FinTech hub,” he added.

Technology transforms financial services
The financial sector has long been a vital pillar of Hong Kong economy, contributing to over 20% of the city’s GDP. As Hong Kong continues to evolve into an international innovation and technology hub, there is an explosive expansion in the FinTech community.

Ir Sunny Lee, Chairman, ASTRI stressed that national policy supports Hong Kong’s journey to become a global innovation and technology (I&T) hub, with FinTech playing a crucial role in smart city development. “The Alliance serves as an effective communication platform for the industry to explore the utilisation of emerging technologies such as AI and blockchain to revolutionise financial services, enhance operational efficiency, and expedite the I&T adoption to benefit businesses and the public, cementing Hong Kong’s leading role as a financial hub,” he said.

Promote FinTech adoption for ESG
To foster the development of a knowledge-based economy and enhance accessibility to financial services for both the public and businesses, the HKSAR Government actively supports the growth of financial technology. This includes promoting more FinTech services and products to undergo proof-of-concept trials, alongside the enhancement of innovative FinTech infrastructure.

Mr Joseph Chan, Under Secretary for Financial Services and the Treasury, HKSAR Government said:”To better integrate Fintech with green finance and actively expand the green Fintech ecosystem, we will launch a dedicated proof-of-concept subsidy scheme for green Fintech in the first half of this year. This pioneering scheme is designed to stimulate the development of innovative technological solutions in the green sector and to offer early-stage funding support for pre-commercial green Fintech initiatives.”

Aligned with the HKSAR Government’s initiatives, ASTRI has commercialised several self-developed technologies in FinTech & ESG fields. Key projects include: (1) collaborating with Bank for International Settlements (BIS) and Hong Kong Monetary Authority to establish a proof-of-concept CBDC system focusing on safety, flexibility and privacy; (2) creating a privacy-preserving Federated Learning model to enable banks to utilise alternative data for developing new credit models and aiding SMEs in obtaining financing; (3) establishing a sandbox environment to offer private, controlled and quorum-based runtimes for assessing the performance and security of smart contracts.

With the escalation of global climate change, there is a growing demand for environmental, social and governance (ESG) information disclosure from listed companies worldwide. ASTRI’s “Artificial Intelligence ESG Report Analysis” technology leverages artificial intelligence (AI) and deep learning technologies to assist financial institutions in enhancing the efficiency of processing ESG report data. This innovative solution aids in meeting regulatory compliance requirements and information disclosure standard, while minimising compliance cost.

Encourage I&T collaboration
The “FinTech and ESG Alliance” marks ASTRI’s third alliance formation. Dr Denis Yip, Chief Executive Officer of ASTRI said: “Building on our previous achievements, our goal is to engage with all stakeholders to develop a holistic ecosystem that paves the way for an innovative era of financial services and sustainability. ASTRI remains committed in advancing knowledge transfer and technological innovation, fostering collaboration among Alliance members and the global industry through a range of networking and matchmaking initiatives.”

ASTRI is dedicated to promoting collaboration among government, industry, universities and research sectors. This commitment aims to enhance cooperation across the I&T industry’s upstream, midstream, and downstream segments, while also nurturing Hong Kong’s financial talent pool. Over the past two years, ASTRI has entered into Memorandum of Understanding (MoUs) with six local universities (HKU, CUHK, HKUST, City U, PolyU and BU) and formed two industry alliances: the “Microelectronics Technology Consortium” (November 2022) and “Smart Mobility Technology (C-V2X) Alliance” (April 2023).

The newly established “FinTech and ESG Alliance” is backed by banks, financial institutions and businesses. It aims to foster the convergence of emerging FinTech solutions and drive the digital transformation of conventional financial and insurance services to enhance operational efficiency. The Alliance is set to host a series of events for its members including talks, seminars, technology showcases, overseas missions, to facilitate collaboration among stakeholders and tap into fresh opportunities in the Mainland China and overseas, injecting new impetus into Hong Kong’s economy.

The FinTech and ESG Alliance is officially launched today (22 February) in the presence of the Hon Jeffrey Lam, Member, Executive Council and Legislative Council, HKSAR Government (centre), Ir Sunny Lee, Chairman of ASTRI (right), and Dr Denis Yip, Chief Executive Officer of ASTRI (left)

Over 400 technology experts and leaders from the financial and green sectors gathers at HKCEC to celebrate the establishment of ASTRI’s FinTech and ESG Alliance

Officiating guest the Hon Jeffrey Lam speaks at the launch ceremony of the FinTech and ESG Alliance

Ir Sunny Lee, Chairman of ASTRI

Dr Denis Yip, Chief Executive Officer of ASTRI

Mr Damien Green, Chairman of Manulife Financial Asia Limited delivers a keynote speech on “Insurance Redefined: Embracing Digital Innovations for a New Era”

Mr Edward Au, Southern Region Managing Partner of Deloitte China explores the factors for driving sustainable finance development

Mr Michael Law, Senior FinTech Director of Hong Kong Monetary Authority examines the opportunities and challenges involved in building a robust FinTech ecosystem in Hong Kong

(From left to right) Mr Simon Lee, ASTRI’s Director of FinTech, Prop-Tech and Art-Tech, The Hon Duncan Chiu, Legislative Council Member, Mr Albert Lo, Chief Architect, Nova Credit, Ms Michelle Mak, Leader, Head of ESG and Enterprise Learning, Dun & Bradstreet HK and Mr Ronald Young, Head of Sustainable Finance Asia, Societe Generale participate in a panel discussion on “ESG Factors in Sustainable Finance: Navigating the Evolving Landscape”

Mr Dominic Maffei, Digital Asset and FinTech Strategy Lead at Standard Chartered Bank discusses on unleashing banking transformation through FinTech and Digital Assets

Ms Teresa Lin, Advisor, BIS Innovation Hub presents a keynote address titled “Innovation, Collaboration, and Sustainable Finance: The Role of Central Banks in Driving Positive Change”

Mr King Leung, Head of Financial Services and FinTech, Invest Hong Kong discusses on leveraging FinTech to promote sustainable development

Mr Joseph Chan, Under Secretary for Financial Services and the Treasury, HKSAR Government delivers a closing remarks at the event

[Hong Kong, 31 January 2024] Standard Chartered Bank (Hong Kong) Limited and FreightAmigo have joined forces to utilize a privacy-preserving technology-“Federated Learning”, developed by the Hong Kong Applied Science and Technology Research Institute (ASTRI) to empower small and medium-sized enterprises (SMEs) in Hong Kong with enhanced access to financial products and services, simplifying the financing and credit application and approval procedures for SMEs.
In line with the 2023 Policy Address objectives to unlock potential of SMEs, “Federated Learning” technology-powered financial solutions are poised to tackle the financing and cash flow needs of SMEs, especially those in the quickly growing e-commerce and cross-border trade sectors. SMEs can enhance their business development and market expansion plans by addressing challenges related to financing, cash flow and information fragmentation.
FreightAmigo is a full-service, one-stop international supply chain finance platform that aims to innovate and redefine the logistics experience for individual and corporate clients. FreightAmigo platform provides a seamless search and comparison process for instant freight quotes, empowering businesses to access comprehensive shipment data, track cargo status, and facilitate secure payment and financing. By providing real-time visibility across the entire supply chain, all stakeholders gain invaluable insights, FreightAmigo’s SME clients experience rapid turnaround times and the flexibility to draw down on their facility, effectively meeting the demands of their evolving business landscape. FreightAmigo’s accolades include winning the Digitizing Trade Finance track at the Bank of International Settlements Innovation Hub (BISIH) and the Hong Kong Monetary Authority (HKMA)’s TechChallenge in 2020.

By leveraging on Federated Learning technology developed by ASTRI, which enables collaborative machine learning while keeping all the training data on device to safeguard data privacy, Standard Chartered Bank worked with FreightAmigo to harnesses the vast data sets available on FreightAmigo’s platform with their diverse user base, which includes SMEs, eCommerce businesses, and cross-border traders to generate predictive machine learning models in an encrypted way, ensuring customers’ privacy and data security could be safeguarded throughout the process.

These trained models could then be effectively utilized to generate lists of prospects that are best suited for Standard Chartered Bank’s financial products and services based on clients’ behavioural patterns on FreightAmigo’s platform. This would help to solve SMEs’ long-standing pain point of information overload in finding suitable financial products and services. This ultimately enhances SMEs’ access to financial solutions that are the best matches for them.

ASTRI’s Federated Learning technology has received notable recognition, including the “Asia FinTech Award 2023 – Data Initiative of the Year” and the “BUSINESS GOVirtual Tech Awards 2023 – Tech Company of the Year (Excellence Award in FinTech)”. The successful collaboration between Standard Chartered Bank and FreightAmigo serves as a testament to the vast potential of open shared data in the FinTech sector. “Federated Learning” facilitates pre-screening of suitable financial services and products for SMEs, enabling financial institutions to evaluate and approve loans effectively. With consent from authorised financing merchants, the data partner employs established models and alternative data to assess borrowers’ creditworthiness, evaluate their competitiveness within the industry, and provide valuable insights for the financial institutions. This platform benefits a diverse range of users, including financial regulatory authorities, organisations utilising AI technology, research communities, and the general public.

In addition to harnessing advanced FinTech solutions, SMEs can take advantage of FreightAmigo’s unprecedented promotion offers, which provide discounts exceeding HK$20,000. This exclusive discount offer encompasses FreightAmigo’s full range of door-to-door logistics solutions, spanning air freight, sea freight, rail freight, express services and cross-border trucking, while covering over 250+ countries and regions. FreightAmigo offers access to a vast network of over 1,000 partners, facilitating seamless connections and augmenting supply chain efficiency.

Dr Denis Yip, Chief Executive Officer of ASTRI said “Federated Learning” technology eliminates the need to transmit data to a centralised database, reducing security risks significantly. “This innovative financial solution revolutionises cash flow, point-of-sale transactions, utility bill receipts and other data into alternative data that can be utilised for credit scoring. Not only does this safeguard privacy, but also simplifies the loan process, expedites approval, and provides banks with more comprehensive data for reference. Moreover, this collaboration would encourage more SMEs to incorporate advanced technologies into their daily operations while attracting other industries, such as insurance, to leverage the potential of ‘Federated Learning’ technology,” he added.

Ms Ivy Tse, Co-CEO and Co-Founder, FreightAmigo Services Limited, said: “As a key player in the TradeTech ecosystem and a 1-stop international supply chain finance platform, FreightAmigo’s core mission is to ‘Make Trade Easier’, we are revolutionizing the trade industry by providing cutting-edge technology solutions that combine Federated Learning and FreightTech AI technologies. This integration optimizes supply chain operations and streamlines trade financing. We can now offer our valued partners, such as Standard Chartered Bank, access to valuable insights derived from our dynamic logistics data while ensuring the utmost privacy and security of our clients’ information. We always enhance this collaborative approach allows us to streamline the trade financing process, better target financial products and services for SMEs, and ultimately enhance the overall customer experience. Together, we are shaping the future of global trade.”

Ms Winnie Tung, Head of Business Banking, Standard Chartered Bank Hong Kong, said, “Customer’s experience is of utmost priority in Standard Chartered Bank. Meanwhile, we have always been actively searching for digital and innovative ways to better serve our Business Banking clients. The collaboration with ASTRI and FreightAmigo facilitated us to better target our products and services at suitable SMEs while ensuring our clients’ data privacy is well secured. Not only this could provide better client experience by saving our Business Banking clients’ efforts on going through loads of information to identify suitable financial products, but for our bank, we could also streamline our prospecting process and ensure that we are providing the right products to clients with the right needs.”

(From left) Ms Winnie Tung, Head of Business Banking, Standard Chartered Bank Hong Kong; Dr Denis Yip, Chief Executive Officer of ASTRI; Ms Ivy Tse, Co-CEO and Co-Founder, FreightAmigo Services Limited

[Hong Kong, 8 December 2023] The Hong Kong Applied Science and Technology Research Institute (ASTRI) won 10 awards at the Asia Exhibition of Innovations & Inventions Hong Kong, including “Gold Medals with Congratulations of Jury”, “1st Prize of Inventions Geneva Awards” along with two Gold and six Silver medals.

According to Ir Sunny Lee, Chairman of ASTRI, competing with over 110 ground-breaking inventions from Hong Kong and neighbouring countries and cities is no easy feat, making their outstanding achievements more remarkable. “We are honoured to have jury’s affirmation on our Research and Development (R&D) capabilities as well as the market potential of our inventions. Moving forward, ASTRI will continue to work closely with our stakeholders and partners to promote innovation and technology (I&T) commercialisation, playing a pivotal role in helping Hong Kong develop into an international I&T,” Ir Lee said.

Dr Denis Yip, Chief Executive Officer of ASTRI expressed his delight in the global recognition of ASTRI’s inventions and extended his congratulations to the R&D team. “With their unfailing efforts, ASTRI is able to excel in high-quality research and technological innovation. As the largest R&D centre in Hong Kong, ASTRI is dedicated to enhancing the city’s I&T ecosystem. Our goal is to foster collaboration among government, industry, academia and research institutes in this field.” Dr Yip also emphasised ASTRI’s commitment to supporting research talents in turning innovative ideas into smart technologies that benefit society through knowledge and technology transfer.

The award-winning inventions span across six categories, including Smart City, Smart Home, Smart Finance, Health Technologies and Medicine, Smart Transportation and Smart Industry. Dr Chun-kit Cheung and Mr Samuel Tak-lok Shum were awarded the “Gold Medal with the Congratulations of Jury” and “1st Prize of Inventions Geneva Award” for their innovative Smart Contactless Robot Charging (SCRC) technology. The invention could be implemented in smart production to optimise productivity and reduce labour costs. Below is a complete list of ASTRI’s award-winning inventions:

The annual exhibition-cum-competition is jointly organised by the Hong Kong Exporters’ Association and Palexpo, the organiser of the International Exhibition of Inventions Geneva. Aiming to present Asia’s cutting-edge technologies, versatile inventions and solutions to the world, the event features an international jury consisting of some 30 industry specialists, choosing winners for more than 40 prizes, including Grand Award, Inventions Geneva Award, Venture Capital Award, IFIA Award as well as Gold Medal, Silver Medal and Bronze Medal.

ASTRI wins 10 awards at the Asia Exhibition of Innovations and Inventions Hong Kong

Dr Denis Yip, Chief Executive Officer of ASTRI expressed his delight in the global recognition of ASTRI’s inventions and extended his congratulations to the R&D team

ASTRI was awarded the “Gold Medal with the Congratulations of Jury” and “1st Prize of Inventions Geneva Award” for their innovative Smart Contactless Robot Charging (SCRC) technology. The invention could be implemented in smart production to optimise productivity and reduce labour costs.

[Hong Kong, 10 November 2023] The Hong Kong Applied Science and Technology Research Institute (ASTRI) held the “Microelectronics Technology Consortium Symposium cum Luncheon” at the Cordis Hotel today. Attended by Mr Ivan Lee, Commissioner for Innovation and Technology, Mr Philip Yung, the Director-General of the Office for Attracting Strategic Enterprise (OASES), and more than 200 industry stakeholders, the event celebrated the achievements of Microelectronics Technology Consortium (METC) in the past year and how it continues to promote the sustainable development of the city’s microelectronics ecosystem.

The Hong Kong SAR Government has been fervently promoting the development of the microelectronics industry in recent years and will establish the “Hong Kong Microelectronics Research & Development Institute” next year. Semiconductor industry is also one of the most important hi-tech industries in the Mainland.

During the Forum, speakers from various industries, academia, and tech sectors shared their inspiring insights on the development of the microelectronics industry. They also highlighted Hong Kong’s pivotal role as a microelectronics research centre, and the potential for industrial application of discoveries made by Hong Kong microelectronics researchers.

The METC promotes collaboration and exchanges among Government, industry, academia and research sectors through organising thematic seminars, large-scale exhibitions and missions to the Greater Bay Area (GBA). The METC serves as a platform for cultivating closer ties between local and mainland industries, as well as fostering potential collaborations and partnerships.

Ir Sunny Lee, Chairman of ASTRI, commented: “Microelectronics technology is closely linked to the societal progress. With the growing demand for industrial transformation and local supply chain, Hong Kong must accelerate research and development (R&D) for next-generation microelectronics. The industry’s support for the METC over the past year has highlighted ASTRI’s crucial role in facilitating technological advancement and industrial chain restructuring. By fostering a thriving microelectronics ecosystem, we believe that we can attract more global research talents and investment to Hong Kong, driving the city’s economic growth.”

Dr Denis Yip, CEO of ASTRI, said: “The METC has had a productive and fruitful year, reaching out to more than 1,500 industry stakeholders and expanding its corporate members to 70. The METC launched six related R&D projects in collaboration with universities. Given Hong Kong’s geographic advantages, robust legal system, excellent research environment, and remarkable talent pool, I am confident that the microelectronics industry in Hong Kong will witness significant growth. ASTRI will continue to foster cooperations with the GBA cities and beyond, accelerating the integration of microelectronics technological development and industrial applications, while enhancing our global competitiveness and tapping new business opportunities.”

ASTRI has more than 10 years of experience in promoting the microelectronics industry in Hong Kong, focusing on R&D, training researchers, and technology transfer in the fields of third-generation semiconductors, 3D integrated chips, electronic design automation (EDA) technology, and power-conversion and energy-saving systems. In line with the Government’s policy on consolidating resources for next-generation semiconductor R&D, ASTRI will continue to work closely with the METC members to promote the development of the microelectronics industrial chain in Hong Kong, consolidating the city’s position as an international centre of microelectronics innovation and excellence.

Welcoming Speech by Ir Sunny Lee, Chairman of ASTRI

Speech by Mr Ivan Lee, Commissioner for Innovation and Technology

Dr Denis Yip, CEO of ASTRI shared the achievements of METC in the past year

(From Left) Ir Sunny Lee, Chairman of ASTRI, Mr Ivan Lee, Commissioner for Innovation and Technology, Dr Denis Yip, CEO of ASTRI officiated the opening ceremony of “Microelectronics Technology Consortium Symposium cum Luncheon”

More than 200 industry stakeholders attended the Symposium, jointly promoting the sustainable development of the city’s microelectronics ecosystem

Plenary Session – Landscape of Development of Microelectronics Sector in Asia and Europe
Prof. Martin Wong, Provost and Chair Professor of Computer Science, Hong Kong Baptist University

Plenary Session – Landscape of Development of Microelectronics Sector in Asia and Europe
Ir. Dr. H.L. Yiu, Chief Corporate Development Officer, Hong Kong Science and Technology Parks Corporation

Breakout 1 – Hong Kong as the Research Hub for Microelectronics
(From left) Ir. Dr. Joseph Ng, Chief Technology Officer, ASTRI; Prof. King-Ning Tu, Chair Professor, Materials and Electrical Engineering, City University of Hong Kong; Prof. David Srolovitz, Dean of Engineering, The University of Hong Kong

Breakout 2 – Applications of Advancement in Microelectronics Studies
(From left) Mr. Falcon Chan, Partner, Strategy, Analytics and M&A, Deloitte China; Dr. Ming Li, Developer Relationship Director, NVIDIA; Mr. Arthur Chung, Vice President, Avnet Asia

Speech by Mr Philip Yung, the Director-General of the OASES

[Hong Kong, 14 November 2023] The Hong Kong Applied Science and Technology Research Institute (ASTRI) and the Housing Bureau (HB) signed a Memorandum of Understanding (MOU) today (November 14) to establish a strategic partnership, aiming at exploring innovative technology solutions for enhancing construction efficiency and safety, as well as optimising property management processes.

Witnessed by the Secretary for Housing, Ms Winnie Ho; the Secretary for Innovation, Technology and Industry, Professor Sun Dong; the Under Secretary for Housing, Mr Victor Tai; and the Board Chairman of the ASTRI, Ir Sunny Lee, the Permanent Secretary for Housing/ Director of Housing, Miss Rosanna Law, signed the MOU with the Chief Executive Officer of the ASTRI, Dr Denis Yip. The MOU signifies the collaboration between ASTRI and the HB to join hands to develop solutions and optimisations for construction and property management through innovative technologies.

Ms Winnie Ho, Secretary for Housing, said, “The HB has been actively adopting advanced technologies and innovative thinking to enhance construction safety and efficiency and to optimise property management. With ASTRI’s rich experience in research and development and application, through joint technical studies with the HB as well as conjoint efforts from various sectors, I believe that the quality and efficiency in areas such as construction, estate management, customer services will be significantly enhanced.”

Professor Sun Dong, Secretary for Innovation, Technology and Industry, said, “The Innovation and Technology Bureau welcomes that the HB actively utilises and integrates innovation and technology (I&T) solutions into aspects of construction and property management, aiming to make Hong Kong a more liveable city. Leveraging ASTRI’s rich experience in the transfer of research and development (R&D) deliverables in Hong Kong and the Mainland, combined with the diversified application scenarios provided by the HB, will help facilitate cross-sectoral collaboration to accelerate the transfer of R&D, and bring about new opportunities and perspectives for the I&T development of Hong Kong’s housing.”

Ir Sunny Lee, Chairman of ASTRI, said, “The partnership between ASTRI and the HB marks a new chapter in the development of construction and property management in Hong Kong. It also promotes the adoption of cutting-edge technologies such as 5G communication, Internet of Things (IoT), artificial intelligence (AI), and optical sensing, resulting in improved construction efficiency and quality, worker and site safety, and energy and resource conservation. These new technologies also help reducing environmental impact and injecting new impetus into the synergistic development of smart cities in Hong Kong and the Mainland.”

Dr Denis Yip, CEO of ASTRI, said, “We are delighted to collaborate with the HB in leveraging innovative technologies and mindsets to create a more liveable environment for citizens and optimise property management services. The adoption of construction and property management technologies can simplify complex tasks, reduce manpower, and ensure completion of tasks in a more precise and secure way. Addressing future housing needs, I believe this collaboration holds immense potential. With the application scenarios provided by the HB, we are able to promote our technologies to the Mainland and global markets.”

The 2023 Policy Address set out the vision of a liveable, innovative and green Hong Kong. Next year, the Housing Authority will launch a pilot scheme in selected Smart Estates for the adoption of innovative technologies, improving daily estate management and smart estate implementation. The signing of the MOU between ASTRI and the Housing Department will promote the development of such innovative technologies. The first batch of technologies under study includes:

Smart Optical Sensing for High Precision Modular Integrated Construction (MiC) Positioning – Through Smart Optical Sensing, positioning tracking, edge AI and other technologies, and using the data provided by dynamic visual sensors for real-time data analysis to calculate the precise location of the MiC modules for installation. This technology can perform under extreme environments, minimises human physically demanding tasks and enhances site safety.

Enhanced 5G Coverage for Remote Crane Control – Deploying a low-latency and reliable 5G private network solution with advanced Internet of Things (IoT) technology on-site, supporting massive number of device connections and enabling remote control of cranes. The implementation of real-time safety and progress monitoring will help lower safety risks of workers and improve the accuracy of crane tasks.

Universal AI Predictive Maintenance System for Lifts – Leveraging IoT data to analyse and develop an AI system capable of predicting lift breakdown patterns, this AI Predictive Maintenance System is compatible with lifts from various manufacturers. The lift downtime is reduced by enabling more efficient on-site maintenance checks through remote, real-time monitoring and accurate breakdown prediction, enhancing the quality of property management services.

ASTRI and the Housing Bureau signed a Memorandum of Understanding (MOU) today (November 14) to establish a strategic partnership, aiming at exploring innovative technology solution. Witnessed by the Secretary for Housing, Ms Winnie Ho (2nd left in back row), the Secretary for Innovation, Technology and Industry Professor Sun Dong (2nd right in back row); the Under Secretary for Housing Mr Victor Tai (left in back row), and the Board Chairman of the ASTRI, Ir Sunny Lee (right in back row), the Permanent Secretary for Housing/Director of Housing, Miss Rosanna Law (left in front row), signed the MOU with the Chief Executive Officer of the ASTRI, Dr Denis Yip (right in front row)

Welcoming speech by ASTRI Chairman Ir Sunny Lee

Speech by Ms Winnie Ho, the Secretary for Housing

Speech by Professor Sun Dong, the Secretary for Innovation, Technology and Industry

Dr Denis Yip, Chief Executive Officer of ASTRI introduced the collaboration in architecture and real estate technology

Supporting Organisations attended the MOU Signing Ceremony