The Hong Kong University of Science and Technology said it will commit more than HK$7 billion ($898.7 million) to establishing the city’s third medical school on Wednesday, a day after it received official approval for the project.

The university’s management said a recruitment campaign will shortly be launched to attract teaching staff, adding that the core team is already taking shape, with six clinical professors having been hired and dozens others expressing an interest in joining.

The Hong Kong Special Administrative Region government on Tuesday announced its decision to approve HKUST in setting up the SAR’s third medical school. The first batch of 50 students is expected to graduate in 2032.

ALSO READ: HKUST to run city’s third medical school

Nancy Ip Yuk-yu, president of HKUST, and other senior management detailed the university’s strategy for developing its medical school during a media briefing on Wednesday.

Harry Shum Heung-yeung, chairman of the HKUST Council, underscored the university’s strong financial condition, and said that it will invest over HK$7 billion over the next 25 years into comprehensively supporting the medical school’s development.

The disclosed investment amount includes HK$2 billion to be allocated to establishing a new medical complex on the Clearwater Bay campus, with completion targeted for 2028.

Ip said she is confident about being able to hire a team of global talents for the school, noting that its founding dean has experience in hospital management and medical education, as well as a sound understanding of both the country and Hong Kong.

So far, six clinical professors are already on board, and 36 clinicians and accomplished academics have formally expressed their desire to join, Ip said.

READ MORE: Task group meets with proponents of third HK medical school

Over the next two weeks, the university will hold discussions with the SAR government to determine which hospital will serve as the third medical school’s teaching hospital.

Additionally, HKUST is establishing partnerships with about 40 leading medical institutions and hospitals, both locally and overseas, including the Hospital Authority, the Hong Kong Sanatorium and Hospital, the Hong Kong Adventist Hospital, and the Tung Wah Group of Hospitals, to ensure the school’s training courses are in alignment with cutting-edge standards.

Ip added that, through HKUST’s collaborative network, future students will not only have opportunities to undertake internships at Chinese mainland hospitals, but will also be able to participate in exchange programs at international medical institutions.

Upcoming priorities include preparing a memorandum of understanding to sign with the HKSAR government, formally establishing the School of Medicine, and preparing the curriculum for accreditation, she said.

Instead of launching first-degree programs, the HKUST medical school plans to focus on offering second-degree programs and training for tech-savvy doctors, with the aim of complementing the strengths of the two existing medical schools in the HKSAR — run by the University of Hong Kong and the Chinese University of Hong Kong.

The new school will initially recruit students with backgrounds in biological sciences. In the long run, Ip hopes that enrollment will be extended to students from other disciplines, such as the humanities and artificial intelligence.

Ip said there will be no mandatory requirement for graduates stay in the HKSAR to practice. If the SAR can provide attractive opportunities, then graduates will naturally be inclined to stay, the president added.