[Hong Kong, 2 November 2020] Commissioned by the Hong Kong Monetary Authority (HKMA), the Hong Kong Applied Science and Technology Research Institute (ASTRI) today publishes a white paper titled “Alternative Credit Scoring of Micro-, Small and Medium-sized Enterprises (MSMEs)”, which outlines how FinTech can be adopted to collect and utilise alternative data to evaluate borrowers’ creditworthiness and thus improve banks’ business scale of their existing MSMEs financing services and the access to finance for MSMEs.
MSMEs account for more than 98% of the business establishments in Hong Kong and employ about 46% of the workforce in the private sector. Yet many face significant challenges in securing a bank loan due to their lack of financial information and the significant burden faced by banks in conducting credit assessments and monitoring related processes. Mr Hugh Chow, CEO of ASTRI, said: “The traditional methods of measuring a company’s creditworthiness, calculating the probability of default, mean the odds are stacked against MSMEs who may rely on offline or cash transactions and who may not have the most orderly and neatest of accounting books. They may also need the funding urgently and the weeks it takes for an application to be processed could prove fatal if the difference between survival and bankruptcy is counted in days.
Eddie Yue, Chief Executive of HKMA, said that it is a global phenomenon that smaller businesses often find it challenging to access finance. “MSMEs play an important role in the economy. Fintech is believed to be an essential tool to help expand MSMEs’ access to credit by lowering costs and better managing the credit risks. Hong Kong is well positioned to drive fintech development given the support from the industry and society as a whole,” he noted. This white paper sets out how Hong Kong can take advantage of artificial intelligence and machine learning to explore a wide variety of data from many sources to assess the creditworthiness of MSMEs, including cash flow, point-of-sale transaction records, utility bill payments and even information from online accounting software programs. The paper lays out the technological components needed to handle and process the alternative data used in alternative credit scoring. Further, it proposes building an effective alternative credit scoring ecosystem for banks and providers of alternative data in Hong Kong that can handle data management, credit assessment automation, and monitoring. It also suggests steps that need to be taken by the players in the ecosystem to support this proposal. The white paper offers a roadmap for the adoption of alternative credit scoring in Hong Kong and suggests three areas for future development. Firstly, continuous support by the government and infrastructure facilitation for data sharing are critical to maintain the availability of alternative data. Secondly, the continuous development of innovative machine learning models is required to enhance the handling of model validation, performance, data privacy, fairness, and interpretability. Finally, a centralised data-sharing platform could facilitate an ecosystem that will expedite the adoption of alternative credit scoring by banks in Hong Kong. “The release of this white paper aims to promote the adoption of alternative credit scoring by banks in Hong Kong with a view to improving access to finance for MSMEs and helping banks to improve the business scale of their existing MSME financing services. It can be used as a basic blueprint for banks looking to kickstart the adoption process,” added Mr Chow.
[Hong Kong, 20 October 2020] The Hong Kong Applied Science and Technology Research Institute (ASTRI) today announced the appointment of five new Directors to the ASTRI Board for the period from 21 October 2020 to 20 October 2022. The new appointees are:
Mr Edmund Lee Chi-wai, Chief Executive Officer, Application Technology Company Limited
Mr Theodore Ma Heng, Managing Partner, Cocoon Ignite Ventures
Dr Alfred Ng Man-cheuk, Chief Technology Officer, Suga International Holdings Limited
Ir Dr Samson Tai Kin-hon, IBM Distinguished Engineer and Chief Technology Officer of IBM Hong Kong
Mr Anthony Tong Tat-hay, Managing Partner, Robin Bridge and John Liu
Five serving Directors of ASTRI, namely Mr Charles Chow Sai-keung, Mr Steve Chuang Tzu-hsiung, Prof Lam Tak-wah, Prof Sabrina Lin Man-yee and Ms Ada Wong Yin-man have also been re-appointed for the period from 21 October 2020 to 20 October 2022.
And commencing 21 October 2020, Ms Cally Chan Shan-shan, Mr Duncan Chiu, Mr Kwong Chi-keung, JP, Ir Dr Alan Lam Hiu-fung and Dr Davy Lo Kwok-wai will retire from the ASTRI Board.
Chairman of ASTRI’s Board of Directors Ir Sunny Lee Wai-kwong welcomed the new members to the Board and thanked the retiring members.
He said: “Thanks to the tireless efforts from the ASTRI Board of Directors and its staff members over the past 20 years, we have been able to take up leadership positions in a number of innovative areas, such as 5G, semiconductors, FinTech, HealthTech, Smart City and Intelligent Manufacturing and our good work has continued despite the global pandemic. Our collective efforts will support Hong Kong’s recuperation from the Covid-19 disruption.
“I hereby thank Ms Chan, Mr Chiu, Mr Kwong, Ir Dr Lam and Dr Lo for their invaluable contribution to ASTRI and I welcome Mr Lee, Mr Ma, Dr Ng, Ir Dr Tai and Mr Tong to the Board of Directors. I look forward to working with them in continuing to create a positive impact in Hong Kong through innovative technologies and applied sciences.”
As from 21 October 2020, the composition of ASTRI’s Board of Directors is as follows:
Chairman
Ir Sunny Lee Wai-kwong, JP
Members
Prof Chan Chun-kwong Mr Stephen Chau Kam-kun Mr Charles Chow Sai-keung Mr Steve Chuang Tzu-hsiung Mr Ha Yung-kuen, BBS Mr Stephen Ho Wai-chung Prof Lam Tak-wah Mr Edmund Lee Chi-wai Prof Sabrina Lin Man-yee Mr Andy Liu An-ting Mr Theodore Ma Heng Mr Peter Ng Hon-yu Ir Prof Joseph Ng Kee-yin Dr Alfred Ng Man-cheuk Ir Dr Samson Tai Kin-hon Mr Anthony Tong Tat-hay Ms Ada Wong Yin-man (In alphabetical order according to surname)
Official Members
Ms Annie Choi Suk-han, JP, Permanent Secretary for Innovation and Technology Ms Rebecca Pun Ting-ting, JP, Commissioner for Innovation and Technology
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About ASTRI
The Hong Kong Applied Science and Technology Research Institute (ASTRI) was founded by the Government of the Hong Kong Special Administrative Region in 2000 with the mission of enhancing Hong Kong’s competitiveness in technology-based industries through applied research. ASTRI’s core R&D competence in various areas is grouped under five Technology Divisions: Artificial Intelligence and Big Data Analytics; Communications; Cybersecurity, Cryptography and Trusted Technologies; Integrated Circuits and Systems; and IoT and Sensors. It is applied across five cores areas which are Smart City, Financial Technologies, Intelligent Manufacturing, Health Technologies, and Application Specific Integrated Circuits.
Over the years, ASTRI has nurtured a pool of research, I&T talents and received numerous international awards for its pioneering innovations as well as outstanding business and community contributions. To date, ASTRI has transferred more than 750 technologies to the industries and owns nearly 850 patents in the Mainland, the US and other countries.
For further information, please visit www.astri.org.
Media Enquiries:
Mr Chris Chan Head of Public Affairs Tel: +852 3406 0375 Email: [email protected]
ASTRI showcases cutting-edge 5G technologies at PT EXPO China 2020 in Beijing
[Hong Kong, 15 October 2020] The Hong Kong Applied Science and Technology Research Institute (ASTRI) showcases a portfolio of its cutting-edge 5G technologies at the PT EXPO China 2020 in Beijing from 14-16 October.
Adopting the theme of “Promote 5G for an Intelligent Future”, ASTRI demonstrates its technologies and innovations that enhance the competitive strength of enterprises in Hong Kong, the Greater Bay Area and around the world. These technologies include:
ASTRI Chief Executive Officer Hugh Chow said: “Our technology and our innovation must always serve a practical need in society. We are delighted to have the opportunity to showcase so many of these ground-breaking success stories in one place, allowing us to truly demonstrate how wide-ranging and impactful our work is.”
The PT EXPO China 2020 is hosted by the Ministry of Industry and Information Technology. It is one of Asia’s largest and most influential Information and Communications Technology (ICT) events, exploring the impact of next-generation technologies across a variety of industries, as well as trends in the market. Last year, the event had more than 81,000 attendees and hosted over 400 exhibitors.
Dr Justin Chuang, Vice-President, Communications Technologies at ASTRI, said: “Our 5G network solution is fully compliant with 3GPP standard and low-cost. It can realise new application scenarios including private networks, Internet of Vehicles, industrial Internet and mobile phone OS cloudification etc., bringing 5G into the market quickly with valued services”.
ASTRI’s 5G O-RAN Solution is an end-to-end 5G network solution, which complies with 3GPP standards and, through its flexibility, low cost and ease of deployment, removes a traditional cost barrier to the industry looking to make the most of the 5G network. Our Industrial IoT applications include the development of simultaneous localisation and mapping (SLAM) and robot navigation software running over a 5G network with industrial AGVs.
China Mobile’s 5G OpenUPF (User Plane Function) will enable open and flexible 5G deployment in network edge and drive vertical applications. ASTRI is one of the first members to have joined the OpenUPF initiative.
Intel and ASTRI have been working closely in 5G technology development, including 5G core network, O-RAN development, 5G OpenUPF, and V2X infrastructure technology. They have worked together to optimise software and hardware to enable scalable 5G UPF. They also combined to deliver a ground-breaking performance of more than 1Tbps 5G UPF data throughput earlier in 2020.
CITIC Telecom CPC and ASTRI have introduced a jointly developed AR Intelligent Maintenance solution, designed to transform field engineers’ operations and maintenance processes. ASTRI has also developed an innovative IoT Blockchain platform that can securely monetise and strategically exploit enormous amounts of IoT data in real-time.
Lenovo (Beijing) Limited and ASTRI jointly demonstratea 5G Smart Mobility solution that combines with ultra-low latency C-V2X communication and 5G edge intelligence to improve road safety and traffic efficiency.
ENDS
About ASTRI The Hong Kong Applied Science and Technology Research Institute (ASTRI) was founded by the Government of the Hong Kong Special Administrative Region in 2000 with the mission of enhancing Hong Kong’s competitiveness in technology-based industries through applied research. ASTRI’s core R&D competence in various areas is grouped under five Technology Divisions; Artificial Intelligence and Big Data Analytics; Communications; Cybersecurity, Cryptography and Trusted Technologies; Integrated Circuits and Systems; and IoT and Sensors. It focuses on five areas of application including: Smart City; Financial Technologies; Intelligent Manufacturing; Health Technologies; and Application Specific Integrated Circuits.
Over the years, ASTRI has nurtured a pool of research, I&T talents and received numerous international awards for its pioneering innovations as well as outstanding business and community contributions. To date, ASTRI has transferred more than 750 technologies to the industries and owns more than 850 patents in the Mainland, the US and other countries. For further information, please visit www.astri.org.
Media Enquiries:
Mr Philip Jones
Senior Manager, Public Affairs and
Corporate Communications
Tel: +852 3406 0235
Email: [email protected]
Ms CHOI Yiu
Manager, Public Affairs and
Corporate Communications
Tel: +852 3406 2506 / +852 9166 6522
Email: [email protected]
ASTRI demonstrates its technologies and innovations including IoT Blockchain at the PT EXPO China 2020.ASTRI staff members introduce ASTRI’s cutting-edge 5G technologies to visitors of the PT EXPO China 2020.
ASTRI and CITIC Telecom CPC Transform Customer Experience with AR-based Operations and Maintenance Solution
[Hong Kong, 24 September 2020] The Hong Kong Applied Science and Technology Research Institute Company Limited (ASTRI) and CITIC Telecom International CPC Limited (CITIC Telecom CPC), a wholly-owned subsidiary of CITIC Telecom International Holdings Limited, have introduced a jointly developed Augmented Reality (AR) solution designed to transform field engineers’ operations and maintenance processes. Branded DataHOUSE AR Remote Hand Service (AR Remote Hand), the solution leverages wearable Augmented Reality (AR) technology and brings CITIC Telecom CPC’s field engineers and its customers to a new era, enabling them to slash the time and cost of troubleshooting and maintenance for achieving better results.
The AR Remote Hand Service employs AR glasses to stream real-time intelligence, troubleshooting logs, graphics and encrypted data from back-end systems to on-site engineers and maintenance staff, boosting field productivity by up to 50%. By wearing the glasses, field engineers do not have to stop their work to communicate with back-end support teams via a laptop or phone, nor to refer to a paper manual. The AR Remote Hand provides field engineers with a heads-up display for remote visualisation in real time as they install, maintain or troubleshoot equipment, thus speeding up the whole process.
AR Remote Hand enables field engineers across multiple locations to overcome the challenges of multiple languages and skillsets in multi-technology environments; as well as to manage installation and maintenance issues more efficiently and cost effectively, resulting in improved customer satisfaction. This ability to work effectively from remote locations is also helping CITIC Telecom CPC’s customers and staff stay safe in the midst of the COVID-19 pandemic. To ensure safe operations and maintain service infrastructure availability by the global remote service support teams, CITIC Telecom CPC is using DataHOUSE AR Remote Hand Service in its China Data Center operations to assure regional customers’ business operations continuity.
“Our strategic collaboration with CITIC Telecom CPC has demonstrated the success in leveraging next generation technologyin real-life applications that benefit our people and society, in this case smart industrial applications and field service management solutions for Hong Kong enterprises,” said Mr. Hugh Chow, CEO of ASTRI. “We are delighted that our applied research has proven effective in enhancing CITIC Telecom CPC’s customer experience, improving operational efficiency and boosting business resilience, especially during the COVID-19 pandemic. ASTRI, as a bridge of innovation and technology, will continue to strive to create economic value and societal impact via technology transfer and commercialisation in building a smarter and safer Hong Kong.”
“We are delighted to see the results of our strategic partnership with ASTRI in the launch of AR Remote Hand Service,” said Mr. Esmond Li, CEO of CITIC Telecom CPC. “The partnership has provided us with a solution that significantly strengthens our managed services offerings, greatly enhances the customer experience and is revolutionising the industry’s operations and maintenance capabilities. DataHOUSE AR Remote Hand is an innovative remote maintenance service adopted in data centre scenarios, which leverages AR intelligent operations and maintenance technologies. This is only the first step and we will not stop here. Through collaborating more innovative thinking, we expect to enhance the service to cope with more scenarios and bring more value and better customer experience to enterprises.”
In their collaboration, ASTRI focused on developing the software platform and customisation, while CITIC Telecom CPC provided related information and opinions based on its experience with business cases in various scenarios and applications. This ensured the solution could effectively address enterprise customers’ needs across a range of industries. The result is a solution that offers a wide array of benefits in service provisioning and remote location visualisation and communication capabilities:
Intuitive AR-Guided Installation, Troubleshooting and Maintenance: With AR Remote Hand, field engineers recognise any device with a designated QR code and access real-time intelligence, graphics, and encrypted data from back-end systems streamed on-site. Field staff can access virtual step-by-step guides or even 3D manuals via AR glasses, without the need to interrupt work to check information on a laptop or in a manual.
Historical Records Analysis: Using a pre-set routine (e.g. gestures), on-site engineers can review a device’s historical record (e.g. customers’ network traffic or cloud CPU history), to speed up data analysis and troubleshooting, while cutting downtime and cost.
Seamless Communication and Collaboration with Back-end Support: Field engineers previously communicated with back-end support via email or phone, making it difficult to describe a troubleshooting situation. Removing distance and language barriers, back-end engineers now view real-time images streamed via AR glasses through an AR operations console, improving operational speed and quality. Its powerful video conferencing feature also offers engineers instant support and fosters off-site collaboration between global operations and maintenance teams. In addition, back-end engineers can give field engineers clear instructions via 3D AR labelling.
In exceptional circumstances, such as the current pandemic, it’s difficult for enterprises’ IT staff to travel to data centres and manage their equipment. Equipped with the latest AR glasses development, CITIC Telecom CPC’s DataHOUSE AR Remote Hand serves as customers’ remote hands. It not only shows the status of on-site equipment as customers watch in real time from offices or other locations, but also lets customers to provide live instructions to CITIC Telecom CPC’s on-site engineers as they troubleshoot equipment issues without physically being in the data centre.
“At CITIC Telecom CPC, we are constantly innovating to improve the customer experience,” said Mr. Daniel Kwong, Chief Information and Innovation Officer of CITIC Telecom CPC. “We plan to extend the AR Remote Hand service for further customer use and will enlarge the list of equipment support. Adding AI applications for the AR glasses will be the next milestone as we work to deliver even more intelligent diagnoses. For example, when a field engineer sees the status of the target-fixing equipment through the AR glasses, they will be shown a number of possible causes for the problem, with each cause ranked with a percentage according to how likely it is to be the source of the problem.”
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About ASTRI
The Hong Kong Applied Science and Technology Research Institute (ASTRI) was founded by the Government of the Hong Kong Special Administrative Region in 2000 with the mission of enhancing Hong Kong’s competitiveness in technology-based industries through applied research. ASTRI’s research and development strategic focus covers five areas of applications: Smart City; Financial Technologies; Intelligent Manufacturing; Health Technologies; and Application Specific Integrated Circuits through its mandate as the Hong Kong branch of the Chinese National Engineering Research Centre.
Our core competence in various areas is grouped under five technology divisions, namely Artificial Intelligence and Big Data Analytics; Communications Technologies; Cybersecurity, Cryptography and Trusted Technologies; Integrated Circuits and Systems, and IoT and Sensors.
ASTRI seeks to develop technologies that address the needs of industries, institutions and communities in Hong Kong; as well as nurture talent to create economic value and societal impact. To date, ASTRI has transferred more than 750 technologies to the industry and owns more than 850 patents in the Mainland, the US and other countries. For further information, please visit www.astri.org.
About CITIC Telecom CPC
We are CITIC Telecom International CPC Limited (“CITIC Telecom CPC”), a wholly owned subsidiary of CITIC Telecom International Holdings Limited (SEHK: 1883), serving multinational enterprises the world over by addressing their specific ICT requirements with highly scalable tailored solutions built upon our flagship technology suites, comprising TrueCONNECT™ private network solutions, TrustCSI™ information security solutions, DataHOUSE™ cloud data center solutions, and SmartCLOUD™ cloud computing solutions.
As a leading Global Local ICT Solutions Partner with worldwide footprint across East to West and native presence, we truly live our motto, “Innovation Never Stops.” Being a preferred Digital Society Enabler, we lead our key markets at the forefront of pioneering ICT development, embracing AI, AR, Big Data, IoT, and other cutting-edge emerging technologies to transform technical potential into real-world value for our customers, helping them achieve higher productivity, agility, cost-efficiency, and ultimately, Digital Globalization.
As one of the first managed service providers in Hong Kong to achieve ISO 9001, 14001, 20000, 27001, and 27017 ICT-related certifications, CITIC Telecom CPC delivers on our superior quality commitment through a broad global self-managed infrastructure encompassing some of the highest growth markets in Asia, Europe and America, with over 140 points of presence, 18 Cloud service centers, 30+ data centers, and two dedicated 24×7 Security Operations Centers. For more information please visit www.citictel-cpc.com
Media Enquiries:
Jeanette Kwok
Head of Public Affairs and Corporate Communications
Contact: +852 3406 0375
Email: [email protected]
Mr. Esmond Li, CEO of CITIC Telecom CPC (left) and Mr. Hugh Chow, CEO of ASTRI announced the launch of “DataHOUSE AR Remote Hand Service”, an AR solution jointly developed to transform field engineers’ operations and maintenance processes.
(From the left) Mr. Daniel Kwong, Chief Information and Innovation Officer of CITIC Telecom CPC, Mr. Esmond Li, CEO of CITIC Telecom CPC, Mr. Hugh Chow, CEO of ASTRI and Dr. Lucas Hui, Chief Technology Officer of ASTRI pictured to celebrate the success of the partnership and AR- based Operations and Maintenance Solution.
The “DataHOUSE AR Remote Hand Service” meets the growing customer demand for support in managing the increasing complexity and diversity of equipment used today in data centres via the state-of-the-art solution. It enables field engineers across multiple locations to overcome the challenges of multiple languages and skillsets in multi-technology environments; as well as to manage installation and maintenance issues more efficiently and cost effectively, resulting in improved customer satisfaction.
ASTRI and the University of Hong Kong to nurture FinTech talent of the future
[Hong Kong, 14 September 2020] The Hong Kong Applied Science and Technology Research Institute (ASTRI) has today signed a Memorandum of Understanding (MOU) with the University of Hong Kong (HKU), a commitment to nurturing the talent of tomorrow and creating the FinTech expertise of the future.
The agreement will see both parties develop theTechnology Oriented Practitioner (TOP) programme, a Work-Study Scheme for first-year students enrolled on the MSc programme in FinTech and Data Analytics at HKU, with ASTRI providing paid full-time employment for up to 30 students for a nine-month period and assigning them to one of ASTRI’s many ongoing FinTech projects, such as a smart credit assessment that helps SMEs secure loans or an AI-driven data analytics platform that empowers more effective risk management, keeping our society safer and smarter.
The Commissioner for Innovation and Technology Rebecca Pun Ting-ting JP witnessed the signing ceremony at the University of Hong Kong.
Hugh Chow, Chief Executive Officer of ASTRI, said: “We are fully committed to building a bridge of talent between academia and the industry and we are thrilled to be offering this opportunity to future talent in Hong Kong to gain invaluable work experience at such a crucial part of their studies.
“Being a world-leader in FinTech is vital to Hong Kong’s future success and a crucial aspect of the role we will play in the Greater Bay Area, making the most of our city’s unique advantages. We are therefore thrilled to be making such an important contribution to the development of future talent,” he added.
Professor Christopher Chao, Dean of HKU Engineering said “FinTech is one of the fastest growing areas in business today. Our Department of Computer Science had recently launched a Bachelor’s degree in Financial Technology [(BASc (FinTech)] and a brand-new interdisciplinary Master’s degree in Financial Technology and Data Analytics for 2021 which aim at nurturing financial technologists and entrepreneurs with essential knowledge in both finance and technology. Through the Work-Study Scheme, our students can gain practical experience and get prepared to contribute to the development of the FinTech industry in Hong Kong and in the region.”
The TOP programme is among ASTRI’s many commitments to developing talent in the I&T sector, particularly FinTech. Working with the Hong Kong Monetary Authority, ASTRI launched the FinTech Career Accelerator Scheme in 2016, aiming to cultivate the future talent necessary to sustain Hong Kong’s banking, finance and business services, as well as preserving our city’s competitiveness as an international finance hub. Students receive an internship at financial institutions or technology companies and in the past four years, more than 500 have taken part. This year, the HKMA received more than 1,400 applications, nearly twice as many as last year.
The ASTRI University Advisory Council (AUAC) has partnered with top universities in Hong Kong to harness knowledge and nurture talent through strategic collaboration with students, providing them with hands-on experience.
Earlier this month, ASTRI launched its Graduate Programme 2020, providing full-time employment to graduates and an opportunity to work closely with its award-winning researchers. ASTRI also offers a three-month blockchain accelerator programme, in partnership with the Hong Kong Science and Technology Park and Molecular Hub, as well as summer internships, which took in 42 students from 15 universities across the world in 2020.
About ASTRI The Hong Kong Applied Science and Technology Research Institute (ASTRI) was founded by the Government of the Hong Kong Special Administrative Region in 2000 with the mission of enhancing Hong Kong’s competitiveness in technology-based industries through applied research. ASTRI’s core R&D competence in various areas is grouped under five Technology Divisions: Artificial Intelligence and Big Data Analytics; Communications; Cybersecurity, Cryptography and Trusted Technologies; Integrated Circuits and Systems; and IoT and Sensors. It is applied across five cores areas which are Smart City, Financial Technologies, Intelligent Manufacturing, Health Technologies, and Application Specific Integrated Circuits.
Over the years, ASTRI has nurtured a pool of research, I&T talents and received numerous international awards for its pioneering innovations as well as outstanding business and community contributions. To date, ASTRI has transferred more than 750 technologies to the industries and owns more than 850 patents in the Mainland, the US and other countries.
For further information, please visit www.astri.org.
About HKU Faculty of Engineering The Faculty of Engineering is one of the founding Faculties of The University of Hong Kong established in 1912. Since its foundation, the Faculty has kept pace with developments in the engineering world and is always at the forefront of engineering research, evolving into one of the largest Faculties at the University with five departments providing undergraduate, postgraduate and research degrees in a wide range of important fields of modern engineering, technology and computer science. The Faculty aims at providing an all-round education for students, equipping graduates not only with knowledge of cutting-edge technology, but also excellent communication and social skills, an innovation mindset, a lifelong learning attitude, professional integrity and international exposure.
Ms Nana Ng
Manager, Public Affairs and
Corporate Communications
Tel: +852 3406 2536
Email: [email protected]
The University of Hong Kong
Ms. Melanie Wan
Senior Manager (Media)
Communications and Public Affairs Office
Tel: (852) 2859 2600
Email: [email protected]
(Left) Professor Christopher Chao, Dean of Engineering of The University of Hong Kong, and Mr Hugh Chow, CEO of ASTRI, sign an agreement to launch the Work-Study Scheme, witnessed by Commissioner of Innovation and Technology Ms Rebecca Pun, JP.
(From Left) Professor Mr S M Yiu, Dr KP Chow, Professor T W Lam and Professor Christopher Chao of The University of Hong Kong, the Commissioner of Innovation and Technology Ms Rebecca Pun, JP, and ASTRI’s CEO Mr Hugh Chow, CTO Dr Lucas Hui and COO Dr Martin Szeto at the signing of the Work-Study Scheme agreement.
ASTRI welcomes Graduate Programme 2020 participants, giving talented students a unique opportunity to launch career in an R&D environment
[Hong Kong, 1 September 2020] The Hong Kong Applied Science and Technology Research Institute (ASTRI) welcomes our new recruits for the Graduate Programme 2020, a unique opportunity for university graduates to launch their careers in a research and development environment, in particular one with a mission to deliver impactful solution to our industry and our society.
ASTRI Chairman Ir Sunny Lee Wai-kwong says: “Creating a bridge of talent is vital to a vibrant innovation and technology (I&T) ecosystem and, through its collaboration with various stakeholders in society, ASTRI has proven its commitment to nurturing the great young minds of applied research of the future.”
Hugh Chow, Chief Executive Officer of ASTRI, adds: “We are delighted to welcome our new recruits and believe the perseverance and application they have already shown in their studies will help us to continue our mission to bring lasting impact to society through award-winning technology.”
The Graduate Programme 2020 has given one-time, two-year full-time job positions to students leaving universities and higher education institutes in Hong Kong in 2020. They will support our award-winning scientists working on cutting-edge innovations in a multicultural environment with more than 500 talented R&D engineers and specialists.
The programme is among ASTRI’s many commitments to developing talent in the I&T sector. Working with the Hong Kong Monetary Authority, we launched the FinTech Career Accelerator Scheme in 2016, aiming to cultivate the future talent necessary to sustain Hong Kong’s banking, finance and business services, as well as preserving our city’s competitiveness as an international finance hub. Students receive an internship at financial institutions or technology companies and in the past four years, more than 500 have taken part. This year, the HKMA received more than 1,400 applications, nearly twice as many as last year.
ASTRI also offers a three-month blockchain accelerator programme, in partnership with the Hong Kong Science and Technology Park and Molecular Hub, as well as summer internships, which took in 42 students at universities across the world in 2020.
About ASTRI The Hong Kong Applied Science and Technology Research Institute (ASTRI) was founded by the Government of the Hong Kong Special Administrative Region in 2000 with the mission of enhancing Hong Kong’s competitiveness in technology-based industries through applied research. ASTRI’s core R&D competence in various areas is grouped under five Technology Divisions, namely Artificial Intelligence and Big Data Analytics, Communications, Cybersecurity, Cryptography and Trusted Technologies, Integrated Circuits and Systems, and IoT and Sensors. Five areas of applications including Smart City, Financial Technologies, Intelligent Manufacturing, Health Technologies, and Application Specific Integrated Circuits.
Over the years, ASTRI has nurtured a pool of research, I&T talents and received numerous international awards for its pioneering innovations as well as outstanding business and community contributions. To date, ASTRI has transferred more than 750 technologies to the industries and owns nearly 850 patents in the Mainland, the US and other countries.
For further information, please visit www.astri.org.
Media Enquiries: Ms Jeanette Kwok Head of Public Affairs Tel: +852 3406 0375 Mobile: +852 9103 0633 Email: [email protected]
ASTRI sets smart water data challenge to promote STEM education in Greater China
[Hong Kong, 24 August 2020] The Hong Kong Applied Science and Technology Research Institute (ASTRI) has supported the International Mathematical Modelling Challenge (IM2C) to nurture STEM talent and innovative entrepreneurship for secondary school students in Hong Kong SAR and the rest of the Greater China region through problem setting, field studies, summer internships and presentation competitions.
Established by Consortium for Mathematics and its Applications (COMAP, USA) and NeoUnion ESC Organization (NeoUnion, Hong Kong) in 2015, the IM2C is a global innovation contest for secondary school students to explore the application of mathematical modelling in real-life situations to solve problems of importance today. Water is an essential resource in our daily life. A smart water supply system which can monitor flaws in pipes and valves is key to sustainable and efficient water use in Hong Kong. Using ASTRI’s simulated scenarios from the real-life project on Smart Water Data Analysis, the Hong Kong team from Diocesan Girl’s School won the Outstanding Award for the 2020 IM2C Greater China Contest, which was featured in the July issue of the Newsletter of Hong Kong Laureate Forum. The problems set for the IM2C 2020 in Greater China covered a wide spectrum of issues including Smart Water Data Analysis, Credibility in Online News, Grid Frequency Response and Cyber Insurance Incentive Strategy; Flash Sale is used for the international challenge.
“Mathematical modelling provides the effective tool in applying logical thinking to solving the complex problems we face today,” said Dr James Lei, ASTRI Senior Director of Artificial Intelligence and Big Data Analytics. “Through our support to the IM2C competition, field studies and the Advanced Innovation Program platform, ASTRI hopes to stimulate young people’s interest in STEM education and careers, and encourage them to take on the difficult challenges – an essential trait for technological innovation.”
ASTRI Chief Executive Officer, Mr Hugh Chow said, “STEM education is becoming increasingly recognised as a key driver of opportunity. IM2C facilitates students to learn about the relevance of mathematical modelling to their studies as well as to their career including entrepreneurship – an important skill for the technology-driven economy of the future. ASTRI will continue to promote STEM education and applied research to prepare our young people to work in a world that is progressively competitive yet collaborative.”
Mr Alfred Cheung, Director of IM2C Committee (Zhonghua) said: “We value ASTRI’s continuous support to the IM2C in promoting STEM education in Hong Kong and the Greater China region. With the implementation of the Outline Development Plan for the Guangdong-Hong Kong-Macau Greater Bay Area, Hong Kong will play an increasingly active role as the international hub of science and innovation. We thank ASTRI for the robust support and partnership to inspire more students to be engaged in international exchange in science and innovation.”
The 2020 contest, the sixth IM2C, saw 650 teams from the Mainland, Hong Kong SAR, Macau SAR and Taiwan compete – a tenfold increase since its establishment.
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Notes to editors
Photo 1: ASTRI CEO Hugh Chow welcomes students and teachers of International Mathematical Modelling Challenge visiting ASTRI to learn about our latest technologies.
Photo 2: ASTRI explains how mathematical modelling is applied in our technological innovations solving problems of today.
About ASTRI The Hong Kong Applied Science and Technology Research Institute (ASTRI) was founded by the Government of the Hong Kong Special Administrative Region in 2000 with the mission of enhancing Hong Kong’s competitiveness in technology-based industries through applied research.
ASTRI’s research and development strategic focus covers five areas of applications: Smart City; Financial Technologies; Intelligent Manufacturing; Health Technologies; and Application Specific Integrated Circuits through its mandate as the Hong Kong branch of the Chinese National Engineering Research Centre. Our core competence in various areas is grouped under five technology divisions, namely Artificial Intelligence and Big Data Analytics; Communications Technologies; Cybersecurity, Cryptography and Trusted Technologies; Integrated Circuits and Systems, and IoT and Sensors.
ASTRI seeks to develop technologies that address the needs of industries, institutions and communities in Hong Kong; as well as nurture talents to create economic value and societal impact. To date, ASTRI has transferred more than 750 technologies to the industry and owns more than 850 patents in the Mainland, the US and other countries. For further information, please visit www.astri.org.
Media Enquiries: Jeanette Kwok Head of Public Affairs and Corporate Communications Tel: +852 3406 0375 Mobile: +852 9103 0633 Email: [email protected]
ASTRI CEO Hugh Chow welcomes students and teachers of International Mathematical Modelling Challenge visiting ASTRI to learn about our latest technologies 2019
ASTRI explains how mathematical modelling is applied in our technological innovations solving problems of today 2018
ASTRI introduces Graduate Programme 2020, one of our talent nurturing initiatives
[Hong Kong, 21 July 2020] The Hong Kong Applied Science and Technology Research Institute (ASTRI) has launched its first Graduate Programme 2020 (the Programme). It offers university graduates (2019-20) a unique opportunity to begin a career in technology research environment. The initiative serves as a timely response to the city’s soaring unemployment.
The Programme offers one-time, two-year full-time job positions with potential job rotation. It opens doors for Hong Kong’s new graduates from universities and higher education institutes. ASTRI is Hong Kong’s largest applied technology R&D Centre and nearly one in four of our technologists and engineers has a PhD. Successful candidates of the Program will work across a wide range of disciplines in technology research and corporate developments. They will work with world-class professionals in a multi-cultural environment.
“At ASTRI, we seek to address pain points in society, and we want to support the Hong Kong community at this challenging time which has left many out of work, including young people who are the most vulnerable to rising unemployment,” said Mr Hugh Chow, ASTRI Chief Executive Officer. “Offering the new graduates an opportunity to kickstart their careers in the prevailing difficult climate, is a way we make positive impact on our society,” he added.
ASTRI Chief Operating Officer, Dr Martin Szeto said: “Talent is key to a thriving innovation and technology (I&T) ecosystem, and over the years ASTRI has nurtured a quality pool of talents in applied research and I&T. It is through collaborative partnerships with government, academia, financial and industry institutions.”
ASTRI Chief Technology Officer, Dr Lucas Hui said, “Young adults are the backbone of every society contributing to the success of our future economy. ASTRI not only makes an impact on society through applied research, we can also add value to our economy by nurturing the next generation. Over the years ASTRI has had many talent exchanges and internships.”
This Programme adds to ASTRI’s numerous talent development initiatives. Since 2016, ASTRI and the Hong Kong Monetary Authority (HKMA) have jointly provided the FinTech Career Accelerator Scheme. It cultivates future leaders necessary to sustain Hong Kong’s banking, finance and business services. It adds to preserve Hong Kong’s competitiveness as an international finance hub. Over 500 interns have participated in the last four years. In 2020 the HKMA received more than 1,400 applications, nearly double the joiners a year before.
ASTRI also offers a three-month blockchain accelerator programme, in partnership with the Hong Kong Science and Technology Park and Molecular Hub. In 2020, ASTRI Summer Internships received 43 university students from Hong Kong and abroad.
Interested applicants for the Graduate Programme 2020 can visit the ASTRI website (https://www.astri.org/career/astri-graduate-program-2020-2-years-contract/) and submit their CV to [email protected] (quoting Ref: ASTRI/GP2020) between Monday 13 July and Friday 31 July 2020, indicating their academic background, work experience and the top five functions they are interested in joining.
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About ASTRI
The Hong Kong Applied Science and Technology Research Institute (ASTRI) was founded by the Government of the Hong Kong Special Administrative Region in 2000 with the mission of enhancing Hong Kong’s competitiveness in technology-based industries through applied research.
ASTRI’s research and development strategic focus covers five areas of applications: Smart City; Financial Technologies; Intelligent Manufacturing; Health Technologies; and Application Specific Integrated Circuits through its mandate as the Hong Kong branch of the Chinese National Engineering Research Centre. Our core competence in various areas is grouped under five technology divisions, namely Artificial Intelligence and Big Data Analytics; Communications Technologies; Cybersecurity, Cryptography and Trusted Technologies; Integrated Circuits and Systems, and IoT and Sensors.
ASTRI seeks to develop technologies that address the needs of industries, institutions and communities in Hong Kong; as well as nurture talents to create economic value and societal impact. To date, ASTRI has transferred more than 750 technologies to the industry and owns nearly 850 patents in the Mainland, the US and other countries. For further information, please visit www.astri.org.
Media Enquiries: Jeanette Kwok Head of Public Affairs Tel: +852 3406 0375 Mobile: +852 9103 0633 Email: [email protected]
ASTRI sets up joint innovation lab with railway operator for smarter railway
[Hong Kong, 7 April 2020] The Hong Kong Applied Science and Technology Research Institute (ASTRI) has kicked off a significant initiative that will see the railway system in Hong Kong become smarter and safer.
ASTRI will explore innovations that will apply its award-winning technology solutions in a collaboration with MTR Corporation. The two parties last Friday signed a Memorandum of Understanding (MOU) to establish the MTR ASTRI Joint Railway Innovation Laboratory.
ASTRI Chief Executive Officer Mr Hugh Chow said: “ASTRI pursues innovation that enhances Hong Kong’s technology-based industries and improves the lives of its residents – and that includes how they get to work or go about for leisure. The MOU will set in motion far-reaching opportunities as ASTRI’s award-winning research and innovation will be put to real-life use cases to help the city’s railway operator enhance efficiency and productivity.”
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About ASTRI
Hong Kong Applied Science and Technology Research Institute (ASTRI) was founded by the Government of the Hong Kong Special Administrative Region in 2000 with the mission of enhancing Hong Kong’s competitiveness in technology-based industries through applied research. ASTRI’s core R&D competence in various areas is grouped under five Technology Divisions, namely Artificial Intelligence and Big Data Analytics, Communications, Cybersecurity, Cryptography and Trusted Technologies, Integrated Circuits and Systems, and IoT and Sensors. Five areas of applications including Smart City, Financial Technologies, Intelligent Manufacturing, Health Technologies, and Application Specific Integrated Circuits.
For further information, please visit www.astri.org.
Media Enquiries: Mr Terry Lee Head of Public Affairs Tel: +852 3406 2517 Mobile: +852 9179 1919 Email: [email protected]
[Hong Kong, 27 February 2020] The Hong Kong Applied Science and Technology Research Institute (ASTRI) today announced the appointment of four new Directors to the ASTRI Board for the period from 1 March 2020 to 20 October 2021. The new appointees are:
Prof Chan Chun-kwong
Programme Director, MSc in Financial Technology, Faculty of Engineering
Professor of Practice in FinTech, Department of Systems Engineering and Engineering Management
The Chinese University of Hong Kong
Mr Peter Ng Hon-yu
Vice President, Technology, Enabling Technology Group
ASM Pacific Technology Limited
Ir Prof Joseph Ng Kee-yin
Professor, Department of Computer Science
Hong Kong Baptist University
Three serving Directors of ASTRI, namely Mr Ha Yung-kuen, Mr Stephen Ho Wai-chung and Mr Andy Liu An-ting, have also been re-appointed for the period from 1 March 2020 to 20 October 2021.
And commencing 1 March 2020, Prof Liew Soung-chang and Dr Archie Yeh Tsuei-chi will retire from the ASTRI Board.
Chairman of ASTRI’s Board of Directors Ir Sunny Lee Wai-kwong welcomed the new members to the Board and thanked the retiring members. He said, “ASTRI has over the past 20 years come a long way in applying technology to bring positive impact on industries, putting Hong Kong on the global map of innovation. This is only possible through the selfless giving of top minds from businesses and universities. I want to thank Prof Liew and Dr Yeh for their contributions in years past, and very much look forward to working with Prof Chan, Mr Chau, Mr Ng and Ir Prof Ng to take ASTRI to the next level.”
As from 1 March 2020, the composition of ASTRI’s Board of Directors is as follows:
Chairman
Ir Sunny Lee Wai-kwong, JP
Members
Prof Chan Chun-kwong
Ms Cally Chan Shan-shan
Mr Stephen Chau Kam-kun
Mr Duncan Chiu
Mr Charles Chow Sai-keung
Mr Steve Chuang Tzu-hsiung
Mr Ha Yung-kuen, BBS
Mr Stephen Ho Wai-chung
Mr Kwong Chi-keung, JP
Ir Dr Alan Lam Hiu-fung
Prof Lam Tak-wah
Prof Sabrina Lin Man-yee
Mr Andy Liu An-ting
Dr Davy Lo Kwok-wai
Mr Peter Ng Hon-yu
Ir Prof Joseph Ng Kee-yin
Ms Ada Wong Yin-man
(In alphabetical order according to surname)
Official Members
Ms Annie Choi Suk-han, JP, Permanent Secretary for Innovation and Technology
Ms Rebecca Pun Ting-ting, JP, Commissioner for Innovation and Technology
About ASTRI
Hong Kong Applied Science and Technology Research Institute (ASTRI) was founded by the Government of the Hong Kong Special Administrative Region in 2000 with the mission of enhancing Hong Kong’s competitiveness in technology-based industries through applied research. ASTRI’s core R&D competence in various areas is grouped under five Technology Divisions, namely Artificial Intelligence and Big Data Analytics, Communications, Cybersecurity, Cryptography and Trusted Technologies, Integrated Circuits and Systems, and IoT and Sensors. Five areas of applications including Smart City, Financial Technologies, Intelligent Manufacturing, Health Technologies, and Application Specific Integrated Circuits.
For further information about ASTRI, please visit www.astri.org
Media Enquiries: Mr Terry Lee Head of Public Affairs Tel: +852 3406 2517 Email: [email protected]
