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Friday, July 13, 2018, 20:55
HKSTP launches blockchain accelerator to drive innovation
By He Weiyi
Friday, July 13, 2018, 20:55 By He Weiyi

An egg-shaped auditorium looms over the new Hong Kong Science and Technology Park Phase 2, on Sept 14, in Hong Kong. (JEROME FAVRE / BLOOMBERG)

Hong Kong Science and Technology Parks on Friday launched a blockchain focused startup accelerator program, hoping to fast-track the innovative distributed-ledger technology’s application in a wide range of industries.

“The Guangdong-Hong Kong-Macao Greater Bay Area has the potential to apply blockchain technology in logistics, insurance, healthcare and regulatory science and technology,” said George Tee, HKSTP chief technology officer.

The Guangdong-Hong Kong-Macao Greater Bay Area has the potential to apply blockchain technology in logistics, insurance, healthcare and regulatory science and technology

  George Tee, HKSTP chief technology officer

HKSTP partnered with Hong Kong Applied Science and Technology Research Institute (ASTRI) and mHub Blockchain to launch the accelerator program under its Global Acceleration Academy (GAA).

The program focuses on blockchain technology development and applications such as smart-city solutions. The program cooperates with industry leaders, offers start-ups guidance and will support participating start-ups through training and development, as well as supplying research and development facilities at the Smart City Innovation Centre. 

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Tee also said: “Blockchain technology has enormous potential for use and can be applied into various industries and in many various ways, from compliance to finance and operations.”

Steven Lau, the founder of Eagles Fund, divides blockchain applications into five specific sectors: mining, technique, application, social community and business trade. 

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Reacting to concerns that Hong Kong’s blockchain development is falling behind that on the Chinese mainland, Mei-kei Leong, chief technology officer of ASTRI, said: “We have faith in Hong Kong’s technology development and we don’t think it’s falling behind the mainland.” She pointed that ASTRI has a strong track record of commercializing innovative and solutions in Smart City, Fintech, artificial intelligence and robotics as well as health technologies. ASTRI believes this partnership will support startups.

Leong also emphasized that the accelerator is not only for Hong Kong’s market, but was set up to help Hong Kong’s technology companies explore and play a role in the Bay Area.

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