Brinc Announces the launch of the HKSTP InnoExpress program in collaboration with Hong Kong Science and Technology Park (HKSTP). The goal of the HKSTP InnoExpress program is to help international technology companies expand their businesses within the Greater Bay Area (GBA) through a comprehensive 10-day curriculum focused on setting up, raising capital, and scaling in the region.
The vision of HKSTP is to create a vibrant innovation and technology ecosystem to deliver social and economic benefits to Hong Kong and the region, and to build a future that is abundant with innovation opportunities for younger generations. InnoExpress will play an important role in realizing this vision by attracting international entrepreneurs interested in expanding their business in the GBA.
Brinc, Hong Kong’s longest running and most active venture accelerator, will operate the program in collaboration with HKSTP. Brinc has a portfolio of over 150 global startups, and in December of 2020, Brinc announced their commitment to invest in over 1,000 climate-conscious startups over the next 5 years. HKSTP’s partnership with Brinc will increase the value that is created for selected startups through the integration of both their networks, expertise and on-going support during the 10-day program.
“We are excited to collaborate with HKSTP on the InnoExpress Program which will provide a unique opportunity for international startups to gain a deeper understanding of opportunities in the GBA, scale their business, raise capital, and position themselves well for long-term success, all within just 10 days.” said Manav Gupta, Brinc CEO.
This program will provide tailored support and guidance on how startups can scale their business in the GBA including but not limited to: visas and immigration, taxation, government grants and support, fundraising, talent recruitment, go-to-market strategies, policies and regulations, and supply chains for selected industries.
For accepted startups joining the program on-site, InnoExpress will be hosted at InnoCell, a smart living and co-creation space designed for innovation and technology enthusiasts to spark collaboration within Hong Kong Science Park.
At InnoCell, participating startups will experience a new way of living, focused on a genuine sense of community, where the use of shared spaces and smart living technologies helps to build greater personal interaction and collaboration resulting in a network of like-minded and talented individuals who inspire one another and drive positive impact. If participants are unable to join on-site, sessions will be held virtually and the InnoExpress team will help coordinate an appropriate time to visit the GBA in the near future.
Upon completion of the program, startups will have the necessary knowledge and relationships to successfully setup and scale in the GBA. Startups may leave the program with joint R&D projects with local universities, access to government grants, acceptance into HKSTP Programs, funding local investors, or commercial opportunities with local corporate partners.
The first InnoExpress Cohort will welcome international startups focusing on FoodTech and AgriTech with solutions that are shaping the future of these industries. Brinc has an extensive network of industry experts and a wealth of experience in these spaces, with 50+ companies in their FoodTech & AgriTech portfolio.
This theme is particularly important as China remains the world’s biggest consumer of meat and demand for plant-based proteins is on the rise. According to Euromonitor, China consumes around $170 billion worth of meat annually, meaning that the country is responsible for around one-third of the world’s meat consumption. However with the onset of the global pandemic, Chinese citizens have recently begun to pay special attention to their diet and their health. This move towards a healthier, greener, and meat-free diet in China is part of a wider trend that has been unfolding over the past decade. Last year, it was predicted that China’s free-from-meat market had grown by 33.5% since 2014. By 2023, it is estimated that it will be worth $12 billion.
Even Pat Brown, the CEO of Impossible Foods, described the meat-free market in China as a ‘perfect opportunity’ for his company. With more than 50 million vegetarians and counting, China’s growing number of meat-free consumers presents a tempting opportunity for investors looking to capitalize on a growing trend in the region.
Dr. Claudia Xu, the Chief Commercial Officer of HKSTP remarked, “In Chinese, it is popularly said that ‘To the people, food is heaven. (民以食為天 mín yǐ shí wéi tiān) ’. Hong Kong has long been named the ‘Food Paradise’ by worldwide foodies and travellers with a perfect balance of East and West cuisines. Chinese consumers nowadays are more conscious of food safety and nutrition as well as the sustainability of the entire food system. To match our global ‘Food Paradise’ status as well as the international innovation and technology hub of the Greater Bay Area, we are launching the 1st HKSTP InnoExpress program, with the theme of FoodTech, to invite quality food technology companies and startups from around the world to participate. The HKSTP InnoExpress program aims to help food technology companies gain all-rounded skills and the necessary resources to capture tremendous business opportunities brought by Hong Kong and the Greater Bay Area.”
Brinc & HKSTP are looking forward to supporting the startups in these industries and working together to drive positive change for a sustainable world.
Brinc is a different breed of venture capital and accelerator platform. Core to their business is the belief that some of the world’s biggest challenges can be solved by entrepreneurs, who they like to call GAME CHANGERS. Brinc believes that deep technology-focused startups can fundamentally change how we move, what we eat, how we feel and where we live for the better if they are given the right backing. That’s what Brinc believes they are here for. To support and mentor founders and their teams from across the world and provide investment to help them grow. Brinc currently operates twelve multi-disciplinary accelerator programs across six countries and has made 150+ investments. Learn more at www.brinc.io
Comprising Science Park, InnoCentre and Industrial Estates, Hong Kong Science & Technology Parks Corporation (HKSTP) is a statutory body dedicated to building a vibrant innovation and technology ecosystem to connect stakeholders, nurture technology talents, facilitate collaboration, and catalyse innovations to deliver social and economic benefits to Hong Kong and the region.
Established in May 2001, HKSTP has been driving the development of Hong Kong into a regional hub for innovation and growth in several focused clusters including Electronics, Information Communications Technology, Green Technology, Biomedical Technology, Materials and Precision Engineering. We enable science and technology companies to nurture ideas, innovate and grow, supported by our R&D facilities, infrastructure, and market-led laboratories and technical centres with professional support services. We also offer value added services and comprehensive incubation programs for technology start-ups to accelerate their growth.
Technology businesses benefit from our specialised services and infrastructure at Science Park for applied research and product development; enterprises can find creative design support at InnoCentre; while skill-intensive businesses are served by our three industrial estates at Tai Po, Tseung Kwan O and Yuen Long. Learn more at https://www.hkstp.org/