PolyU and FHKI sign a memorandum of understanding to inject new impetus into Hong Kong's "re-industrialization" through innovation and technology

HONG KONG – Media OutReach - 13 June 2022 – The Hong Kong Polytechnic University (PolyU) and the Federation of Hong Kong Industries (FHKI) have signed a Memorandum of Understanding to deepen their collaboration in the coming year. The two sides will further strengthen exchanges between academia and industry, share industry information and demand for innovation and technology (I&T), jointly cultivate innovative talents and invest in start-ups, and utilize PolyU’s latest technologies and scientific inventions to actively promote the development of I&T and related industries in Hong Kong, in the hope of contributing to Hong Kong’s future industrial development.

Witnessed by PolyU President Professor Teng Jin-guang (first left) and FHKI Chairman Dr Cha Yi-chiu (first right), PolyU Executive Vice-President Dr Lo Lai-wah (second left) and FHKI Executive Vice-President Mr Chan Wai-chung (second right) signed a Memorandum of Understanding.

PolyU and FHKI will strengthen cooperation, encourage industrialists and scientific research teams to exchange and cooperate, and share resources and networks, and support the combination of start-ups and the industrial sector through various start-up support programs. In addition, FHKI members and PolyU Venture Capital Fund plan to jointly invest in technology start-ups related to PolyU, providing systematic support to accelerate their growth.

Both parties hope that through this cooperation, PolyU students and the new generation of start-ups will be able to better understand the needs of the industry, as well as the difficulties and challenges they face, thereby injecting new impetus into the industry and deepening mutual cooperation. PolyU is committed to promoting knowledge transfer and promoting innovative entrepreneurship education, bringing the needs of the industry to campus. With the rich experience of the industry and the development of PolyU in scientific research and academics, it will surely produce greater synergy and lay the foundation for the long-term development of Hong Kong's "re-industrialization".

Professor Teng Jin-guang, President of PolyU, said: “PolyU has always been committed to responding to the needs of society through high-quality education and research projects that keep pace with the times. PolyU has maintained close ties with the business community for many years, aiming to combine PolyU’s innovation and technology with FHKI’s in-depth understanding of the market and its extensive network to effectively promote win-win cooperation and common development between research and industry. Our collaboration will further promote the application of PolyU’s research results in different industries, and will also inject new impetus into the cultivation of talents in Hong Kong’s innovation and technology industry.”

Dr. Cha Ngai-chiu, Chairman of the Federation of Hong Kong Industries, said that the cooperation between the Federation of Hong Kong Industries and the PolyU reflects the firm determination of industry-university cooperation to promote the development of advanced manufacturing, re-industrialization and innovation and technology in Hong Kong. He said: "The close cooperation and exchanges between the two sides will help promote the transformation of scientific research results of universities and create more sustainable social and economic value. Talent is an important cornerstone for Hong Kong to become an international advanced manufacturing and innovation and technology center. We hope that this cooperation will give students and university research teams more opportunities to give full play to their strengths, attract more young people to join advanced industries and innovation and technology, and inject vitality and creativity into the industry."

In addition, PolyU and FHKI will jointly explore more partner activities for PolyU students and research teams to participate in, including the Future Innovation Challenge, Mentorship Program, Translational Research Grant, Talent Exchange and Cultivation Program, etc. The scope of cooperation is wide, including electric vehicles, biotechnology, real estate technology, environmental society and governance, and other fields related to science and technology innovation, applying scientific research results to society and accelerating the commercialization of start-ups.