Launch of Walter Kwok Technology Start-up Fund for HKUST TSSSU Awardees

On 11 September 2017 the President of the HKUST, Professor Tony F Chan, hosted a gathering at HKUST celebrating the launch of the new Walter Kwok Technology Start-up Fund by Dr Walter Kwok Ping-sheung for HKUST TSSSU Awardees.

The gathering included the signing of the Memorandum of Understanding between HKUST and Walter Kwok Foundation.  The new Walter Kwok Technology Start-up Fund will dedicate an annual funding of HK$4 million to support the HKUST TSSSU Awardees by providing interest-free bridging facilities to each successful start-up, with an option to convert into equity of the start-ups.  In addition, mentorship and business network will be provided.

Dr Walter Kwok said, ‘As local youth are becoming more innovative and entrepreneurial, the local start-up ecosystem is getting attention and recognition by the public.’  He added, ‘To help the younger generation in Hong Kong, the Walter Kwok Technology Start-up Fund is established to provide additional and supplemental resources for nurturing the technopreneurs as a program of supporting the youth and technology development policies introduced by the Hong Kong government.’

For more information, please contact Technology Transfer Center of HKUST by email at tsssu@ust.hk.

*The HKUST

Since its official opening in October 1991, the Hong Kong University of Science and Technology (HKUST) has established itself as an intellectual powerhouse, energizing the community’s transformation into a knowledge-based society, and securing a place on the academic world map in record-breaking time.

HKUST is ranked Number 1 Young University in Asia.  Its Engineering is ranked Number 1 in the Greater China region.  Its Executive Master of Business Administration is ranked Number 1 globally for 7 times in the past 10 years. 

For more information, go to http://www.ust.hk/

*TSSSU and technology development under HKUST

Under the Technology Start-up Support Scheme for Universities (TSSSU) by the Innovation and Technology Commission (ITC), an annual funding of HK$4 million is provided to each of the six universities in Hong Kong.  Since TSSSU’s inception in 2014, 29 technology start-ups have benefited from TSSSU under the HKUST. 

With the support of the HKUST, more technology start-ups have been able to carry out researches and commercialise their technology.  Some of them have even able to recruit further funding and/ or start their business operations.    

For more information, go to http://ttc.ust.hk/

*Walter Kwok Foundation

The Walter Kwok Foundation was founded by Dr Walter Kwok Ping-sheung in April 2011.  The objectives of the Foundation include helping young people of Hong Kong for advancement of education, environment conservation, promotion of start-up technology, innovation and entrepreneurship programs, promotion of Chinese art, culture and historical heritage.  Since its inception, the Foundation has made donations to charities for the underprivileged in Hong Kong, namely Ashoka, the Crossroads Foundation, the Foodlink Foundation, the Hong Kong Polytechnic University and the Suicide Prevention Services.