HKSTP strives to establish a vibrant, diverse and thriving I&T ecosystem in Hong Kong

The board of Hong Kong Science and Technology Parks Corporation (HKSTP) and two of its directors, Ms Cordelia Chung and Mr Dennis Ho, have garnered four awards from the Directors Of The Year Awards 2022. Both Chung and Ho express gratitude in receiving the honour and look forward to making even greater contributions to Hong Kong’s innovation and technology industry.

Serving Hong Kong with dedication

Dr Sunny Chai, Chairman of HKSTP, said, “I am delighted that HKSTP has won the Directors Of The Year Awards again since 2012. This milestone represents the recognition of HKSTP’s corporate governance from all walks of life. I sincerely thank the board, especially the two award-winning senior directors, for their sustained commitment and dedication. We will continue to provide appropriate support to the local I&T sector and accelerate the development of Hong Kong into an international I&T hub.”

Established in 2002, Hong Kong Science and Technology Parks Corporation (HKSTP) manages facilities and provides value-added services for the technology, research and development sector in Hong Kong. Its vision is to create an innovation-driven future for Hong Kong, and its facilities include Hong Kong Science Park for technology companies, InnoCentre for fintech and e-commerce companies and startups, and three INNOPARKs at Tai Po, Yuen Long and Tseung Kwan O for industrialists and innofacturers.

Over the past 20 years, HKSTP has built the largest I&T ecosystem in Hong Kong. The number of technology companies in the Hong Kong Science Park has grown to over 1,100, while the current size of the innovation and technology (I&T) community exceeds 18,000. HKSTP has also successfully nurtured several homegrown (e.g. Sensetime, Smartmore, Lalamove) and attracted overseas unicorns (e.g. Geek+, Nium, Jaguar Microsystems).

“We are very honoured to receive the award,” says Cordelia Chung. “As a public corporation set up by the Hong Kong government, HKSTP’s goal is to create a vibrant I&T ecosystem to deliver social and economic benefits to Hong Kong and the region, and to build a future abundant with innovation opportunities for the younger generation.”

Dennis Ho emphasizes that the board members share the same philosophy of propelling success for local and global I&T entrepreneurs today and tomorrow. “We provide more than just a space but also full support to the startup ventures at all stages of development through our Incubation and Acceleration Programmes,” he adds.

A diversified board that sets the roadmap

Chai explains that the HKSTP board of directors comprises a group of highly accomplished professionals coming from a wide range of fields, which allows the board to make thorough decisions. “As an industrialist, I understand the importance of “research to industry” within the whole I&T ecosystem. HKSTP re-positioned the three industrial estates into INNOPARKs last year, and this has been proven to be a right move, as the market demand for our purpose-built facilities is strong.”

“I am an accountant, while Cordelia is a lawyer,” Ho elaborates. “We have board members from the legal, banking, finance, accounting and investment industry, as well as from academia and the Legislative council. Combining our knowledge, expertise and skills, HKSTP is able to formulate its strategic direction in a comprehensive approach and allocate the resources efficiently and effectively.”

Chung describes the role of the board as a Global Positioning System (GPS) for the company. “The mission of the board is to set direction for HKSTP’s overall development,” she notes. “If the management is the driver finding its path in an unfamiliar place, then the board is the vehicle’s navigation system responsible for managing risks and watching out for potential risks lying ahead.”

“In fact, most of our board members also sit on several committees and participate in their setting up and regular meetings,” she adds. “Over the years, the board and the management have built great transparency and trust, allowing HKSTP to thrive for excellence.”

“Work, Live, Play, Learn” culture

Both Chung and Ho find the process of overseeing the construction of InnoCell the most unforgettable experience by far during their time of service. Located in Hong Kong Science Park, InnoCell is a smart living and co-creation space designed to provide accommodation for I&T talents and incubatees from the park. It is the first multi-storey residential building in Hong Kong that has adopted modular integrated construction (MiC) technology. It has also won a Grand Award as well as Special Citation on UN Sustainable Development Goals (UN SDGs) in the biennial Green Building Award (GBA) 2021.

Chung recalls that throughout the construction of the InnoCentre, the board had carefully monitored and scrutinized every proposal to make sure the project aligns with HKSTP’s values, and had carefully considered its impact from the ESG (environment, social and governance) points of view.

“From the building material to the interior design of each room, we pay attention to every detail to ensure it truly reflects our ‘Work, Live, Play, Learn’ corporate culture and matches our strategic goal of sustainability,” Chung stresses. “In the process, the board had no qualms about rejecting any proposal until we get it right.”

A bright I&T future

Chung points out that during President Xi Jinping’s presence at the celebratory activities of the 25th anniversary of Hong Kong’s return to the Motherland, he made a special point of visiting the Science Park. “In my humble opinion, this is truly a recognition of the success and encouragement for Hong Kong in building its I&T ecosystem,” she enthuses. “We will spare no effort to make I&T an indispensable pillar of Hong Kong’s economy.”

Ho underscores HKSTP’s determination to seize opportunities under the 14th Five-Year-plan and the Greater Bay Area to deepen the integration between Hong Kong and Shenzhen, citing the very encouraging developments of the Northern Metropolis, San Tin Technopole and the ‘Twin Cities, Three Circles’ initiatives. “We are dedicated to expanding our I&T ecosystem and talent pool to the Greater Bay Area,” he concludes.

Chai expresses his appreciation towards the dedication and effort of the whole HKSTP board and leaves some advice for other organisations: “Each organisation shall maintain high professional and ethical standards and clearly identify its clients, which is crucial for resource utilisation and guideline formulation. Each and every board member of HKSTP has taken time out of their busy schedule to contribute to I&T. I am extremely honored to continue to lead the team’s effort in promoting the I&T development of Hong Kong.”