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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.
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Skyro Rolls Out Reusable Digital Credit Across the Philippines, Explores Opportunities in Southeast Asian Markets
SkyroCredit is a reusable, revolving digital credit line that provides access to a fixed credit limit without a plastic and without relying on the Visa or Mastercard networks. Once approved, a customer’s credit is available within the Skyro app and can be used instantly by scanning any QR Ph code, the Philippine QR payment standard accepted at more than 90% of merchant outlets nationwide. Leading merchants include SM, Mercury Drug, Watsons, Jollibee, McDonald’s, and DALI Supermarket. Customers can borrow, repay the amount they have used, and reuse the same credit limit without reapplying.
NasimAliev, Skyro co-founder, said:
“Our goal is to provide access to affordable credit for underserved communities across Southeast Asia at a time when everyday expenses continue to rise and consumers’ financial priorities are evolving.
“Today’s consumers need financial solutions built around real-life spending needs and changing financial priorities. With SkyroCredit, we bring flexible financial solutions to our customers’ fingertips. The credit line offers all the benefits of flexibility, including an interest-free grace period. This provides customers with maximum convenience for everyday use while even allowing them to save money through cashback.
“By expanding our portfolio of point-of-sale loans, cash loans, and Buy Now, Pay Later (BNPL) products to include flexible credit lines, we are building long-term customer relationships based on everyday use, responsible borrowing, and trust.”
Eligible customers receive initial credit limits of PHP 1,000 to PHP 10,000 (approximately USD 17 to USD 170), with the opportunity to increase their limit to as much as PHP 100,000 through regular, responsible use. Purchases carry 0% interest for up to 45 days. Every purchase also earns 1% cashback, which customers can redeem on future purchases through the app.
Skyro’s expansion into reusable digital credit addresses one of Southeast Asia’s largest financial inclusion opportunities by enabling sustained customer engagement. According to the Bangko Sentral ng Pilipinas, the central bank of the Philippines, only half of Filipino adults have a formal financial account. As QR-based payment networks continue to expand across the region, Skyro can leverage this infrastructure to deliver accessible digital credit products that meet growing consumer demand.
Hashtag: #Skyro #SkyroCredit #DigitalCredit
The issuer is solely responsible for the content of this announcement.
About Skyro
Skyro is a high-growth, digital-first fintech group delivering scalable, responsible access to financial services across high-potential emerging markets. Powered by proprietary data science, AI-driven credit decisioning and alternative data scoring, the company combines a mobile-native experience with modular fintech architecture to serve underserved customer segments at scale.
In just three years, Skyro has grown to serve over one million active customers in the Philippines, underpinned by a robust credit portfolio exceeding $200 million. The company’s strategic ambition is to establish itself as the preeminent full-spectrum financial services group across dozens of emerging markets worldwide.
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Peach Garden Celebrates Mid-Autumn Festival with Singapore Flyer-Inspired Mooncake Keepsake Gift Set
The Singapore Flyer design roots the collection in a recognisably local identity, with the launch timed to the National Day period as the city moves into the traditional Mid-Autumn Festival gifting and reunion season. Pre-orders open from 13 July to 10 August at $61 nett inclusive of GST (usual price: $91.11).
A Keepsake Built Around the Singapore Skyline
Designed around a circular silhouette that echoes the Singapore Flyer’s iconic form, the Graceful Showstopper is crafted to hold its place in a home well beyond the festival.
Rooted in a recognisably Singaporean aesthetic, it functions as a decorative display piece as much as a festive gift, whether set out for a family gathering, presented to a business client, or kept as a personal memento of the season. Logo customisations are available on corporate orders of 50 boxes or more.
Handmade Daily, in a Range Built for Modern Palates
Returning alongside the centrepiece is Peach Garden’s low-sugar mooncake range, available in baked and snowskin varieties. The Deluxe Combination of Four spans four flavours across eight miniature pieces:
- Mini Lemon Yuzu Snowskin
- Mini Pandan Lotus Snowskin with Melon Seed
- Mini Low Sugar White Lotus Snowskin with Macadamia
- Mini Lychee Snowskin with Lychee Martini Truffle
Every mooncake in the range is handmade fresh daily across Peach Garden’s six outlets, a practice the group has maintained amidst an industry where production has shifted increasingly toward automation.
The collection will be available at more than 20 festive kiosks across Singapore for the first time, including Takashimaya from 20 August and VivoCity from 25 August, both through 25 September. Collection is available from 11 August to 25 September at all six Peach Garden outlets, from 11am to 3pm and 6pm to 10pm.
Hashtag: #PeachGarden #GracefulShowstopper #MoonCakeFestival #MidAutumnFestival
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The issuer is solely responsible for the content of this announcement.
About Peach Garden
Peach Garden is one of Singapore’s leading Chinese restaurant brands, renowned for its contemporary Chinese cuisine, exceptional hospitality, and award-winning festive creations. With six outlets across Singapore, the brand continues to bring families, friends, and businesses together through meaningful dining and gifting experiences.
For much of the past century, urban development followed a relatively straightforward equation: build housing, expand infrastructure and accommodate population growth. This formula is now showing its limitations. As climate risk intensifies, biodiversity declines and cities compete not only for investment but also for talent, developers around the world are now forced to redefine the very nature and purpose of what they build.
From the Gulf to Singapore, and from Scandinavia to Southeast Asia, large-scale urban projects are evolving into integrated ecosystems where mobility, green infrastructure, education, healthcare, digital services and environmental restoration are planned together. The industry paradigm has shifted from constructing buildings to designing places capable of sustaining both economic growth and quality of life over generations.
Vinhomes has initiated a comprehensive repositioning to navigate this global transition.
Known as Vietnam’s largest residential developer, the company is increasingly recognized not merely as a builder of housing projects, but as a creator of large-scale lifestyle ecosystems, communities where urban planning, technology, ecology and public services are conceived as parts of the same system.
When Nature Becomes Urban Infrastructure
For decades, environmental considerations were often introduced after a city’s masterplan had already been completed.
The emerging model reverses that sequence. Across many of its recent developments, Vinhomes operates on the principle that natural systems should become the starting point of planning. Hydrology, coastal conditions, biodiversity and existing vegetation are treated as design inputs that shape the urban layout from the earliest stages.
This philosophy marks a notable departure from conventional large-scale development, particularly in rapidly urbanising markets where natural landscapes have frequently given way to intensive construction.
With more than 30 developments across Vietnam and a land bank equivalent to roughly two-thirds the size of Singapore, Vinhomes has the unusual opportunity to test this planning approach at a metropolitan scale.
Rather than replicating identical urban formulas, each project is designed around the ecological characteristics of its location.
The company maintains that the long-term success of a city should ultimately be measured not by how much has been built, but by whether natural ecosystems continue to thrive decades after residents have moved in. That perspective aligns with an increasingly influential school of urban planning in which green infrastructure is viewed as essential public infrastructure.
Factors Compelling Cities Toward Regeneration
Environmental, Social and Governance (ESG) frameworks have become standard across global investment. Urban planners, however, are beginning to question whether sustainability alone is sufficient.
Maintaining today’s environmental conditions may no longer be enough if tomorrow’s cities must also respond to rising temperatures, sea-level change and growing demographic pressures.
Vinhomes’ strategic response is crystallized in its ESG++, a framework that extends beyond conventional ESG principles by introducing two additional objectives: Regeneration and resilience.
The distinction is subtle but important.
Regeneration implies restoring ecological systems rather than simply reducing environmental impact. Resilience focuses on designing cities capable of adapting to changing climatic, technological and social conditions over many decades.
Projects such as Vinhomes Green Paradise Can Gio and Vinhomes Global Gates Ha Long are intended to demonstrate how these concepts can be incorporated into large-scale urban planning, combining renewable energy, smart infrastructure and ecological restoration within a single development model.
This shift highlights a growing global consensus: the success of next-generation cities will ultimately be measured by their ability to adapt to increasingly complex environmental challenges.
Vietnam’s Urban Story Is Becoming Part of a Global Conversation
For many international audiences, Vietnam remains associated primarily with its cultural heritage and natural landscapes. Urban development may become an equally important part of that story.
Rapid urbanisation, expanding infrastructure investment and a national commitment to achieve net-zero emissions by 2050 have created conditions in which entirely new urban models can be planned without many of the legacy constraints facing older cities.
This developmental opportunity is capturing increasing global interest.
Commenting on Vinhomes Green Paradise’s participation in the global 7 Wonders of Future Cities initiative, Jean-Paul de la Fuente, Director of the New7Wonders Organisation, described Vietnam as undergoing a “transformative step change” in its national identity and global positioning. He pointed to the country’s progress in reducing the carbon footprint of urban mobility as an example of coordinated action between government and the private sector that offers valuable insights extending beyond Southeast Asia.
For Vinhomes, participation in international platforms such as 7 Wonders of Future Cities is therefore less about showcasing a single project than about contributing to a broader discussion on how rapidly developing economies might approach urban growth differently. The company’s evolution mirrors a wider shift taking place across the global property sector.
Increasingly, the core value proposition for developers is no longer anchored in how many buildings they can deliver. Instead, it centers on whether they can create cities that remain economically competitive, environmentally resilient and socially relevant long after construction has ended.
Hashtag: #Vinhomes
https://vinhomes.vn/enThe issuer is solely responsible for the content of this announcement.
