Amazon Web Services teams up with Hong Kong Science Park to inaugurate the “Idea Launcher” initiative, aiming to accelerate innovation and technology development within the city’s startup ecosystem.
Hong Kong’s innovation and technology sector has shown great potential over the last few years, proving to be a thriving platform for modern tech businesses across Asia. To foster technological growth in the city, Amazon Web Services (AWS) has announced its partnership with Hong Kong Science and Technology Parks Corporation (HKSTP), setting in motion its “Idea Launcher,” an initiative to assist early-stage startups.
The latest initiative intends on fostering support, mentoring, and coaching, along with facilitating the growth of early-stage startups, by helping nurture and scale innovative ideas and research projects. Idea Launcher functions as a strategic extension of HKTSP’s co-incubation undertakings with key industry leaders, such as its IDEATION Programme, which was launched in 2019.
HKSTP and AWS’s recent collaborative efforts mark the public establishment’s integral role as a corporate leader in driving innovation and new-tech development in the region.
Working closely together, the two corporates are set to sustain and transform the development of next-generation seeding ideas from emerging startups, along with young and dynamic entrepreneurs.
Idea Launcher’s six-month-long initiative is set to cover the four key pillars of early-stage innovation- research and development (R&D), technology simulation, co-incubation, as well as talent and culture cultivation. It will further train early-stage startups and entrepreneurs on the fundamentals and technicalities of launching an idea through business consulting, and capabilities assessment. It ensures and tests project feasibility under various circumstances, to assist participating parties with optimising their solutions and visions for better implementation of the concepts.
In addition, HKSTP will grant HK$100,000 in seed funding and incubation practicum for selected startups, while AWS will conduct best-suited and purpose-driven innovation culture workshops to build up the startup’s inventiveness and visionary capabilities.
Chris So, Head of Business Development, Hong Kong and Macau, AWS, commented, “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.”
In light of the recent partnership, HKSTP and AWS are committed to transforming the space, bringing a viable platform for Hong Kong’s rising startups and adept entrepreneurs to expand their ideas beyond the local ecosystem, and onto the global stage.
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