HKSTP Launches Hong Kong's First Public-Private Partnership in I&T Ushering in a New Era for Technology Sector

In a landmark move set to transform Hong Kong's innovation and technology (I&T) landscape, the Hong Kong Science and Technology Parks Corporation (HKSTP) officially launched HKSTP Co-Acceleration Programme, the city's first-ever Public-Private Partnership (PPP) in I&T, also a private fund to co-invest in acceleration-stage startups focusing on Generative AI, Intelligent Connected Systems, and Sustainability, providing them with financial backing, strategic guidance, and access to a world-class innovation platform.

A Strategic Alliance: Four Industry Giants Join Forces with HKSTP

The launch ceremony featured the signing of strategic partnership agreements with the first batch of partners: Cathay Technologies, Fook Man Development Company Limited, Hangzhou Industrial Investment Group, and Zhejiang Communications Investment Group. The partnerships were formalised in the presence of Financial Secretary Mr. Paul Chan, emphasizing I&T are a key pillar of Hong Kong’s future prosperity and reinforcing the government’s support for I&T development.

"By bringing these significant partners into our ecosystem, HKSTP is expanding its influence by blending capital, business expertise, and global market access," Said Dr. Sunny Chai, Chairman of HKSTP in the ceremony.

Cathay Technologies: Fueling Innovation in the Travel Industry

At the heart of the fund is a strategic ethos — with partners like Cathay Technologies taking an active role in shaping startup growth. Navin Chellaram, CEO of Cathay Technologies, sees the initiative as a chance to "match startup capabilities with Cathay's own goals — improving operations, enhancing customer experiences, and driving sustainability and digital leadership."

"This is a new venture we've set up to promote tech innovations for the travel industry,” said Chellaram. “Through Cathay Technologies, we are aiming to drive innovations that enhance the way aviation users and customers experience our services, ultimately benefiting the whole of the aviation industry.”

The company aims to bring fresh ideas into the ecosystem by providing startups with proof-of-concept opportunities within Cathay’s operations. Startups working on solutions aligned with the Fund’s focus sectors—generative AI, intelligent connected systems, and sustainability—will have opportunities to test and scale their products in real-world aviation scenarios.

"What makes this fund different is that it strongly encourages strategic investors like ourselves to actively participate—not just by providing financial investment but also by offering strategic advice, industry insights, and resources to ensure the success of startups.” Chellaram said.
The fund is managed by a Hong Kong statutory body, a HKSTP subsidiary which is licensed with the Securities and Futures Commission (SFC) to act as an Investment Manager of a Hong Kong Limited Partnership Fund (HKLPF).

Inside the ARENA: Where Innovation Goes Live

Adding to the momentum, HKSTP unveiled “ARENA” — a brand-new, high-profile platform that showcases 23 handpicked startups ready for primetime. Divided into five zones — AI, digital transformation, sustainable materials, advanced electronics, and life & health — the ARENA is built to be a deal-making hotspot, linking over 1,000 investors and corporate partners directly with visionary founders.

Among the standout innovators is TG0, whose unique material design and AI algorithms enable touch detection, force sensing, and pattern recognition on any 3D surface material—from car interiors to their Riffmate smart guitar that replaces strings with touch-sensitive surfaces. Alan Leung, China Tech Lead of TG0 expressed their excitement over the launch of the Fund and ARENA, believing the initiative would accelerate innovation by creating more investment opportunities and bringing more industrial support.

Other notable startups include FCC Analytics, which provides AI-driven automation to combat global financial crime, and Janaenergy Technology, a leader in sodium-ion battery materials focused on developing high-safety, long-life, and cost-effective energy storage solutions.