Sino Group opened a new sandbox and exchange platform for local, mainland, and international startups in the Northern Metropolis.
This Sino Inno Lab, which is located at a Grade A office and retail complex in Yuen Long, adds to the original one in Kwun Tong, running since 2018. MTRC (0066) is also a tenant of the complex, where it set up an office to build the new railways there.
Not only does the Lab offer space to incubate startups, it also launched The Spark Platform for innovators to soft-land their solutions and hold events.
Andrew Young Meng-cheung, associate director (innovation) said some of the focuses would be PropTech, catering for the development of the Northern Metropolis, for instance, a virtual working platform for construction site; ArtTech, for which a social enterprise is given space to train young people in the district animation, and TourismTech.
In the past six years, the Lab has provided support for more than 100 technology solutions and has welcomed 1,200 organizations for ProTech in the Kwun Tong lab. Some of them showcased their innovations in the new lab yesterday in addition to the presence of the representatives of its community partners comprising universities and social enterprises.
Young explained the site was selected as it can facilitate mainland firms to explore Hong Kong and overseas markets. For instance, Shenzhen-based Liyu Semiconductor has a unique coating on chips and is interested in setting up a presence in Hong Kong. It has also invented an air disinfection and lighting dual-system that can be used in hospitals.
The Lab has been helping local firms for overseas expansion too. Lydia Leung, chief executive of Belun Technology, said Sino allowed her to first introduce sleeping health solutions to its staff as a corporate program, which was then applied to elderly centers. With Sino’s connection, the business was brought to Singapore and Malaysia.
Israeli-based Verobotics, which offers solutions for buildings’ exterior, has been doing well in mainland China, and wanted to use the Lab to expand to Hong Kong and Southeast Asia.
The other successful Hong Kong-nurtured companies include Ampd, which produces smart batteries for construction. The product has been used by various developers in Hong Kong and overseas. EcoBricks, which uses waste plastic to produce paving bricks, Young said the company will set up a second manufacturing plant in Yuen Long and the model can be replicated in mainland China.
Stressing the importance of helping startups to look for markets, he said the Lab invested HK$500,000 to even HK$2 million to companies.
