Amazon Web Services (AWS) and Hong Kong Science and Technology Parks Corporation (HKSTP) today jointly launched the “Idea Launcher” co-ideation initiative to foster and accelerate innovation and technology (I&T) development in Hong Kong through extensive support, mentoring and coaching to help early-stage startups nurture innovative ideas and research projects.
This is another strategic addition to HKTSP’s co-incubation mission with sector leaders, with the HKSTP-AWS Idea Launcher being the first partnership with a corporate leader under HKSTP’s IDEATION Programme. AWS will work hand-in-hand with HKSTP to specifically support the development of early-stage ideas from emerging startups and next-generation entrepreneurs.
This latest initiative continues the strategic collaboration that AWS and HKSTP began earlier this year, covering the four key pillars of: Research & Development, Technology Simulation, Co-incubation, and Talent and Culture Cultivation. The Idea Launcher is a six-month co-ideation initiative that provides early-stage startups and entrepreneurs with technical training, business consulting, capabilities’ assessment as well as project feasibility in order to optimise startup solutions and concepts.
HKSTP will offer HK$100,000 in seed funding and incubation training to selected startups, while AWS will provide tailor-made AWS innovation culture workshops to help startups build up their innovation capacity. Programme participants will also receive up to US$25,000 in AWS cloud resources, as well as technical support and training through the “AWS Activate” Program, set up especially to help startups optimise their business models and fuel future development.
“Hong Kong’s thriving startup ecosystem is emerging as a driving force for the city’s economy,” said Chris So, Head of Business Development, Hong Kong and Macau, AWS. “Building upon Amazon’s and AWS’ experience and years of serving startup companies, we hope to provide the critical support and resources requited by startup ventures across all stages of growth. With our established startup ecosystems and investment development teams in Hong Kong and beyond, we gather talent with investment institution backgrounds and entrepreneurial experience that is geared to supporting startups throughout their growth cycle. We look forward to deepening our partnership with HKSTP to advance local startups and propel Hong Kong on its journey to international I&T hub status.”
Eugene Hsia, Chief Corporate Development Officer, HKSTP, said: “Hong Kong is a land of opportunities. The seeds of entrepreneurship have always been deeply rooted in the minds of its people. We are thrilled to see the city’s appetite for entrepreneurship reach a record level and our vibrant I&T ecosystem growing at full speed. New ideas shoot up every day at our Park, and we are humbled to drive Hong Kong’s transformation by building its largest innovation ecosystem. By partnering with AWS, one of the world’s largest and most iconic startups, we are ready to elevate Hong Kong’s talented entrepreneurs onto the global stage.”
HKSTP launched the IDEATION programme in 2019, furthering its support for early-stage research and development projects and innovative ideas. Well received in the startup community, the number of participating members and teams in the programme has more than tripled from 60 to over 230.