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First Public-Private Partnership for I&T in Hong Kong: HKSTP to Co-Invest in Tech Ventures and Drive Global Success
HKSTP celebrates the launch of the HKSTP Co-Acceleration Programme and revealing four partners who will be the first batch of strategic partners in this groundbreaking Partnership
HONG KONG SAR – Media OutReach Newswire – 8 April 2025 – Hong Kong Science and Technology Parks Corporation (HKSTP) officially launched the HKSTP Co-Acceleration Programme, Hong Kong’s first-ever Public-Private Partnership (PPP) in innovation and technology (I&T), a private fund (the ‘Fund’) that 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).
Focusing on three high-demand global sectors — Generative AI, Intelligent Connected Systems, and Sustainability—the Fund sets off on a mission to co-invest with visionary partners in high-potential acceleration-stage startups from Hong Kong, enabling them to scale into global leaders and unicorns. This milestone further cements HKSTP’s position as a leading I&T powerhouse, accelerating innovation and driving global impact.
Mr Paul Chan, Financial Secretary of HKSAR Government officiated the launch ceremony and said, “Innovation and technology are a key pillar of Hong Kong’s future prosperity. We recognise the unique value of public-private partnerships in driving innovation. The HKSTP’s Acceleration Fund aligns with our vision. By partnering with industry leaders to co-invest in high-potential start-ups, particularly in generative AI, intelligent connected systems and sustainability, the Fund amplifies our collective capacity to turn innovation into impact.”
Uniting Industry Leaders to Invest in Startups and Power Innovation
The first batch of four investing firms and enterprise partners were revealed at the partnership signing ceremony, including Cathay Technologies, Fook Man Development Company Limited, Hangzhou Industrial Investment Group, and Zhejiang Communication Investment Group. Representatives from these four parties signed the strategic partnership agreements with Mr Albert Wong, CEO of HKSTP. The signing ceremony was witnessed by Mr Paul Chan and Dr Sunny Chai, Chairman of HKSTP. These leaders will bring in industry insights, funding opportunities, and localisation expertise to bridge public missions with private-sector returns. In addition, over 100 startups from the mainland China will be referred to the HKSTP’s thriving ecosystem, providing them opportunities for global expansion and at the same time, enabling local startups to tap into the mainland market.
Dr Sunny Chai, Chairman of HKSTP, said: “The fund for the HKSTP Co-Acceleration Programme is a game-changing milestone in Hong Kong’s I&T landscape, and we are excited to welcome our new strategic partners. By bringing these significant partners into our ecosystem, HKSTP is expanding its influence by blending capital, business expertise, and global market access. This public-private fund will propel Hong Kong’s most promising innovators onto the global stage, driving breakthroughs across key industries and reinforcing our city’s status as an international leading I&T hub.”
Cathay Director Digital and IT Mr Lawrence Fong said: “We’re thrilled to collaborate with HKSTP on this landmark fund designed to empower budding start-ups in Hong Kong and the rest of the Greater Bay Area. I believe that this partnership will cultivate a vibrant innovation & technology ecosystem in the region, bringing leading technologists, entrepreneurs, and corporate partners together, further enhancing Cathay’s digital leadership. Our strategic partnership with HKSTP also underscores Cathay’s continued support for the Hong Kong SAR Government in advancing technological innovation to spur our city’s economic growth and development”
Mr Wencheng Tang, Executive Director, Fook Man Development Company Limited, said: “We are honoured to join the ‘HKSTP Co-Acceleration Programme’. Through this collaboration, we aim to forge a long-term partnership and jointly advance the growth of the I&T industry across the Greater Bay Area. As a subsidiary of Dongguan Communications Investment Group, Fook Man Development hopes to leverage this opportunity to strengthen exchanges between Dongguan and the HKSAR, provide more opportunities and resources for HKSAR partners seeking support for development in the mainland, and inject stronger momentum into our industrial upgrading.”
Mr Li Qiu, Investment and Operation Director, Hangzhou Innovation Incubation Center (Hong Kong) Limited, said: “Last year, the Hangzhou Innovation Incubation Center became the first mainland city-level technology incubation center to land in Hong Kong Science Park, providing venue support and resource-matching services for Hangzhou-based I&T companies expanding into Hong Kong and overseas projects setting up in the city. To date, we have connected with over 50 prospective enterprises and are actively building a government-academia-industry resource synergy network. We will proactively engage with Hong Kong’s diverse funding initiatives to empower I&T development and contribute to establishing a Hangzhou-Hong Kong collaborative I&T innovation hub.”
Mr Dehua Wang, General Manager, Zhejiang Communications Investment Group (HK) Company Limited, said: “The Group is committed to leveraging technological innovation as the core engine driving the upgrade and transformation of enterprises, utilising HKSTP’s globalised I&T resources and its integrated incubation and acceleration ecosystem. We focus on identifying high-growth tech companies with strong alignment to industries such as transportation infrastructure, smart construction, new energy, new materials and low-altitude economy. Through our ‘fund investment plus empowering industry’ model, we provide funding, application scenarios, and operational support to enable outstanding Hong Kong projects to establish a foothold in Zhejiang Province and expand nationwide”
Unveiling the “ARENA” to Drive Deals and Collaboration
On the sidelines of the event, HKSTP unveiled the new “ARENA”, a top-notch platform showcasing 23 cherry-picked startups. Designed as a permanent, high-visibility platform for startups, it provides direct access to over 1,000 investors and corporate partners within HKSTP’s ecosystem. The ARENA is segmented into five key zones: Artificial Intelligence, Digital Transformation, Sustainable Materials & Technology, Advanced Electronics & Robotics, and Life & Health. It is the place where pivotal collaborations and investment deals happen, empowering HKSTP startups to transform ideas into real business ventures and scale up.
Disclaimer
The Fund has not been authorized by the SFC under section 104 of the Securities and Futures Ordinance, Chapter 571 of the Laws of Hong Kong (the “SFO”). The information in this document is solely for informational and discussion purposes only. Nothing in this document shall constitute, or be construed as constituting, any of the following:
- Investment, legal, financial, accounting, tax or other advice;
- An advertisement, offer, solicitation, invitation or recommendation to sell or purchase any securities in Hong Kong or elsewhere;
- An arrangement of securities, stocks or any financial instruments in Hong Kong or elsewhere;
- An offer to provide any investment or financial services in Hong Kong or elsewhere; or
- A direct or indirect provision of investment management services to you by HKSTP Co Acceleration Management Limited.
Nothing in this document shall be construed as (i) Hong Kong Science and Technology Parks Corporation (or any of its subsidiaries except for HKSTP Co Acceleration Management Limited), or any of the event speakers mentioned in this document, having a license or being authorized to carry out any regulated activity(ies) or regulated function(s) in Hong Kong; or (ii) Hong Kong Science and Technology Parks Corporation (or any of its subsidiaries except for HKSTP Co Acceleration Management Limited), or any of the event speakers mentioned in this document, holding itself/himself out as being licensed or authorized to perform any regulated activity(ies) or regulated function(s).
Nothing in this document shall be construed as (i) HKSTP Co Acceleration Management Limited having a license or being authorized to carry out any regulated activity(ies) or regulated function(s) in Hong Kong that it is not licensed or authorized to perform under the SFO; or (ii) a HKSTP Co Acceleration Management Limited holding itself out as being licensed or authorized to perform any regulated activity(ies) or regulated function(s) for which it is not so licensed or authorized in Hong Kong to perform under the SFO.
Hashtag: #HKSTP
The issuer is solely responsible for the content of this announcement.
Media OutReach
PERSOL Unveils Unified Regional Outsourcing Brand to Drive Digital Transformation and Operational Excellence in Singapore
PERSOL Outsourcing will deliver tailored end-to-end solutions for today’s evolving business landscape
SINGAPORE – Media OutReach Newswire – 31 March 2026 – PERSOL, Asia Pacific’s leading HR solutions provider, today announced the official launch of PERSOL Outsourcing. This strategic rebranding brings together the collective strengths of P-Serv and EVO, creating a unified, future-ready outsourcing brand designed to help businesses navigate an increasingly complex and tech-driven market.
The rebranding of P-Serv and EVO as PERSOL Outsourcing marks a significant milestone in PERSOL APAC’s regional growth strategy. By combining three decades of operational stability with digital capabilities, PERSOL Outsourcing is positioned to deliver tailored end-to-end solutions that integrate People, Process, and Technology.
“The launch of PERSOL Outsourcing reflects our commitment to scaling smarter and innovating faster for our clients,” said Foo See Yang, Managing Director and Strategic Business Group Head, PERSOL APAC. “By unifying our business process design and technical expertise under one brand, we can deliver more comprehensive, scalable, and future-ready solutions to our clients in the region. The rebranding allows PERSOL APAC to better support clients’ evolving needs in areas such as digital transformation, workforce optimisation, and operational resilience.”
Tailored Solutions for an Increasingly Complex Landscape
PERSOL Outsourcing addresses the rising demand for agile delivery models in a regional Business Process Outsourcing (BPO) market that is expected to reach US$147.06 billion by 2032. As regional enterprises increasingly seek partners who can navigate this rapid growth through specialised domain expertise, PERSOL Outsourcing will focus on delivering solutions across three core pillars:
- Customer Experience: Supporting service delivery across all touchpoints, from customer service management to omnichannel contact centre operations and front-of-house operations.
- Corporate Services: Streamline complex shared service operations through a comprehensive suite of solutions including Human Resource Advisory, Finance, Marketing, and Compliance. Services include the management of intricate administrative, facility, and regulatory requirements based on organisational needs and growth trajectories.
- Technical: Driving digital transformation through engineering and IT infrastructure management. Capabilities span cloud operations, digital support, and platform management, leveraging AI implementation and automation to innovate and improve core business processes.
Effective immediately, P-Serv and EVO will operate under the PERSOL Outsourcing brand. The integration will allow clients to tap into an expanded suite of regional resources and digital innovations designed to drive greater operational efficiency.
For more information, please visit https://www.persoloutsourcing.com/.
Hashtag: #PERSOLOutsourcing
The issuer is solely responsible for the content of this announcement.
About PERSOL Outsourcing
PERSOL Outsourcing is a regional strategic partner delivering comprehensive outsourcing solutions that seamlessly integrates people, process, and technology. As a newly integrated brand following the rebranding of P-Serv and EVO, PERSOL Outsourcing unites three decades of operational excellence with deep domain expertise to drive agility and resilience for enterprises across Asia-Pacific.
About PERSOL APAC
PERSOL is Asia-Pacific’s leading Staffing and HR solutions partner, operating across 13 markets with deep local insight and regional scale. With more than 140 offices and decades of experience, we deliver integrated workforce solutions that are tailored, tech-enabled, and designed for the dynamic world of work.
We combine human expertise with smart technology to help organisations solve workforce challenges, unlock potential, and stay ahead of change. From recruitment and talent management to workforce strategy and advisory, our collaborative approach puts your goals at the centre.
In 2025, we came together under the PERSOL name – reflecting our bold vision for the future of work and our Group’s Vision: ‘Work and Smile’. Whether you’re building teams, growing careers, or transforming how work gets done, we’re here.
Media OutReach
PERSOL Introduces Unified Regional Outsourcing Brand to Boost Digital Transformation and Operational Excellence in Malaysia
PERSOL Outsourcing will deliver tailored end-to-end solutions for today’s evolving business landscape
KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 31 March 2026 – PERSOL, Asia Pacific’s leading HR solutions provider, today announced the official launch of PERSOL Outsourcing. This strategic rebranding brings together the collective strengths of P-Serv and EVO, creating a unified, future-ready outsourcing brand designed to help Malaysia businesses navigate an increasingly complex and tech-driven market.
The rebranding of P-Serv and EVO as PERSOL Outsourcing marks a significant milestone in PERSOL APAC’s regional growth strategy. By combining three decades of operational stability with digital capabilities, PERSOL Outsourcing is positioned to deliver tailored end-to-end solutions that integrate People, Process, and Technology.
“The transition to PERSOL Outsourcing is a natural evolution of our deep-rooted presence in Malaysia and the wider region,” said Brian Sim, Managing Director and Country Head of PERSOL Malaysia. “By unifying the specialised domain expertise of P-Serv and EVO, we are better positioned to help our clients navigate the evolving business and workforce landscape. Our clients will continue to work with the same expert teams they trust, but with the added benefit of unified regional scale and enhanced digital capabilities that drive long-term resilience and efficiency.”
Tailored Solutions for an Increasingly Complex Landscape
PERSOL Outsourcing addresses the rising demand for agile delivery models in a regional Business Process Outsourcing (BPO) market that is expected to reach US$147.06 billion by 2032. In Malaysia, Customer Experience BPO market generated US$1.43 billion in 2024 and is projected to grow at a CAGR of 12.5% by 2030. As local and regional enterprises increasingly seek partners who can navigate this rapid growth through specialised domain expertise, PERSOL Outsourcing will focus on delivering solutions across three core pillars:
- Customer Experience: Supporting service delivery across all touchpoints, from customer service management to omnichannel contact centre operations and front-of-house operations.
- Corporate Services: Streamline complex shared service operations through a comprehensive suite of solutions including Human Resource Advisory, Finance, Marketing, and Compliance. Services include the management of intricate administrative, facility, and regulatory requirements based on organisational needs and growth trajectories.
- Technical: Driving digital transformation through engineering and IT infrastructure management. Capabilities span cloud operations, digital support, and platform management, leveraging AI implementation and automation to innovate and improve core business processes.
Effective immediately, P-Serv and EVO will operate under the PERSOL Outsourcing brand. The integration will allow clients to tap into an expanded suite of regional resources and digital innovations designed to drive greater operational efficiency.
For more information, please visit https://www.persoloutsourcing.com/.
Hashtag: #PERSOLOutsourcing
The issuer is solely responsible for the content of this announcement.
About PERSOL Outsourcing
PERSOL Outsourcing is a regional strategic partner delivering comprehensive outsourcing solutions that seamlessly integrates people, process, and technology. As a newly integrated brand following the rebranding of P-Serv and EVO, PERSOL Outsourcing unites three decades of operational excellence with deep domain expertise to drive agility and resilience for enterprises across Asia-Pacific.
About PERSOL APAC
PERSOL is Asia-Pacific’s leading Staffing and HR solutions partner, operating across 13 markets with deep local insight and regional scale. With more than 140 offices and decades of experience, we deliver integrated workforce solutions that are tailored, tech-enabled, and designed for the dynamic world of work.
We combine human expertise with smart technology to help organisations solve workforce challenges, unlock potential, and stay ahead of change. From recruitment and talent management to workforce strategy and advisory, our collaborative approach puts your goals at the centre.
In 2025, we came together under the PERSOL name – reflecting our bold vision for the future of work and our Group’s Vision: ‘Work and Smile’. Whether you’re building teams, growing careers, or transforming how work gets done, we’re here.
Media OutReach
Maharlika Consortium Breaks Ground for PHP 2 Billlion Microgrid Investment Powering 12,000 Philippine Homes
Right Image:
Maharlika Consortium is a recognized leader in microgrid innovation, deploying best-in-class technology that includes advanced solar PV power, high-performance battery storage systems (BESS), intelligent hybrid generation, smart meters, and sophisticated distribution grids to deliver 24/7 clean, affordable, and reliable electricity to residential and commercial consumers.
Awarded following a competitive selection process by the Philippine government under the Qualified Third Party Programme (QTP) and the new Microgrid Service Provider (MGSP) Act, the approved microgrids will deploy a smart, clean, and modern utility-grade power infrastructure. The portfolio will initially deploy 7 MWp Solar PV, BESS totaling 8.0 MWh, efficient diesel capacity of 3.5 MW and a smart power distribution network of 225 km across the three provinces. This ambitious undertaking is expected to generate approximately 300 full-time jobs during the 10-12 month construction period, with 30 permanent positions for operations and maintenance (O&M) and additional part-time sub-contractors for ongoing maintenance works.
This significant milestone underscores the Philippine government’s intensified efforts to fast-track rural electrification projects. These initiatives are propelled through pathways such as the Certified Energy Project of National Significance (CEPNS) designation and inter-agency streamlining, consistent with the respective mandates and authorities of the concerned government agencies, a push acknowledged by President Ferdinand R. Marcos Jr., Energy Secretary Sharon S. Garin and ERC Chairperson Atty. Francis Saturnino C. Juan. Now facing a global oil crisis, more than ever, decentralized and hybrid power infrastructure is the country’s best strategy to increase its energy security. Such hybrid powered microgrids will reduce the burden on fuel subsidies by the government while ensuring business continuity in entire communities, because over 50-60 percent of the power is generated from locally available sunlight.
In Palawan, a province celebrated for its environmental efforts and home to the world-class pioneering Sabang microgrid, the news was warmly received by local leadership. “This program is about creating opportunities, improving lives, and building a brighter future for every San Vicentenian. As we lay the foundation today, we are not only building infrastructure—we are building hope.” said San Vicente Mayor Ramir R. Pablico.
Community leaders and indigenous representatives also expressed strong support for the project, highlighting its long-awaited impact on education, livelihoods, and cultural continuity. “We have been waiting a long time for this project because our community truly wants access to electricity. While I know some of our residents may face challenges in getting connected due to financial constraints, I am confident they will find ways, because they want their children to study well. Reliable lighting will help ensure better education for our community,” said Barangay Captain Alvin J. Marsi of Taburi. “We are grateful to our elders and the Indigenous Political Structure for their support through the entire approval process. Their consent reflects a shared aspiration to advance and develop their community,” said Dina C. Pascual, Municipal Indigenous Peoples Mandatory Representative (IPMR). “This project is very meaningful for us. I believe this is not only for our generation, but especially for the children. We hope that access to electricity will encourage our youth to stay, so they can continue to protect and uphold the rights of our indigenous community,” shared Ebredy Orok, an Indigenous community elder, who affirmed that the project has been granted a Free Prior Informed Consent (FPIC) through the National Commission on Indigenos Peoples (NCIP).
Her Excellency Ambassador Constance See of Singapore, who led key dignitaries during the ceremony, underscored the broader significance of the project, highlighting both its development impact and the strength of bilateral cooperation. “This is not just an energy project—it is a development project. Projects like this microgrid strengthen livelihoods, improve access to essential services, and demonstrate how Singapore and the Philippines can work together to deliver practical, lasting benefits for communities.”
Atem S. Ramsundersingh, CEO of WEnergy Global, the pioneering company in hybrid power systems and offgrid microgrids over past 14 years, highlighted the significant opportunity for financiers. “We invite financing institutions to join this movement as lenders, claim real, measurable SDG impact, and gain early access to an approximately US$7 billion off-grid infrastructure market in the Philippines. Our 24-site portfolio is diversified, de-risked, and shovel-ready, now also open for financing of 8 additional sites. We expect to apply for more offgrid microgrid sites in 2026 and beyond and invite national and international investors to join this mission.”
“These approvals and the subsequent groundbreaking validate our approach: building bankable, scaleable microgrids to empower the over 2 million Filipino households that remain unenergized,” added Quintin V. Pastrana, President of Maharlika Clean Power Holdings. “We are grateful to our partners who have sustained their patience and determination to secure the necessary approvals under this new regulatory framework and believe with this experience and more streamlined processes, we can bring in more private sector investment to support the government reach its 100% household energization target within the decade.”
With the groundbreaking successfully completed, construction is now officially underway. While development will proceed in phases, ensuring all DENR clearances, final local government unit permits, and compliance with remaining ERC requirements are meticulously secured, the Maharlika Consortium remains steadfast in its aim to have every community energized by Christmas 2026, bringing 24/7 power to households, schools, barangay health stations, and micro, small, and medium enterprises. These decentralized power infrastructure systems are also opening up opportunities for owners and operators of micro and containerized data centers to co-locate with this decentralized set up and the use of clean energy sources.
Backed by the ERC, DOE and DENR, and with vital support from governors, mayors and barangays clearing rights-of-way and permits, this program marks a decisive shift in how rural electrification gets done in the Philippines: faster, accountable and designed for impact. The Maharlika Consortium is matching that public resolve with WEnergy Global driving disciplined execution, engineering with suppliers and local contractors to deliver fit-for-island components and climate-resilient power networks that withstand typhoons, floods and earthquakes. The objective is specific and measurable: close the energy-poverty gap in our host communities, unlock local jobs and services, and deliver lifetime reliability and value for money.
Hashtag: #MaharlikaConsortium #WEnergy
The issuer is solely responsible for the content of this announcement.
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