Prof. Nancy IP, President of the Hong Kong University of Science and Technology (HKUST), warmly welcomes the wide range of initiatives presented by Chief Executive Mr. John LEE in his Policy Address today. She is particularly excited about his support for establishing a third medical school, increased funding and favorable policies in support of research and entrepreneurships, and a series of collaboration plans with the Greater Bay area, which shall further position Hong Kong as an international hub for health and medical innovation.
“We are encouraged by the Chief Executive’s support for establishing a third medical school and the formation of a task group to drive this initiative forward. The proposal to set up the campus in the Northern Metropolis Ngau Tam Mei, along with the construction of a new teaching and research hospital, will create synergy with the AI and life and health tech industries in the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone,” said Prof. Ip. “We look forward to learning more about the requirements of the proposal that the task group will invite universities to submit, and we are eager to contribute.”
Echoing the government’s vision to bring in more healthcare professionals for Hong Kong by increasing training places and establishing a third medical school, HKUST expressed its interest earlier this year in launching a new medical school. Since then, the University has formed different work groups to gather input from relevant stakeholders and prepared an initial proposal.
On the research and entrepreneurship area, Prof. Ip is thrilled about the government’s launch of a new HK$1.5 billion matching grant for collaborative research, an accelerator scheme with a HK$180 million matching fund to foster growth of start-ups, and an additional HK$10 billion fund-of-funds for investments in emerging areas like health technology, AI and robotics. She believes these measures will invigorate Hong Kong’s innovation and technology (I&T) ecosystem, and the new fund-of-funds aligns well with the goals of HKUST’s recently launched Redbird Innovation Fund, which sought collaboration and investment from market capital to supporting startups in strategic areas.
Prof. Ip is also delighted about the establishment of the third InnoHK cluster focusing on advanced manufacturing, materials, energy and sustainable development, which are all key research areas for HKUST. Many HKUST innovations are being used in both public and private sectors, including the generative AI document processing co-pilot application developed by the HKUST-led Hong Kong Generative AI R&D Center (HKGAI) that will be trialed in government departments. HKUST researchers will also lead the InnoHK R&D center for space robotics and energy research to support the Chang’E-8 mission, leveraging their expertise in areas spanning mechanics, thermodynamics, robotics, sensors, aerospace micro-instruments and thermal control technology.
On talent attraction and grooming, Prof. Ip strongly supports the various measures aimed at strengthening Hong Kong’s position as an international hub for talents. This includes the creation of the “Study in Hong Kong” brand to attract high-caliber students from ASEAN and the Belt and Road (B&R) countries. Notably, HKUST welcomed the city’s first three Emirati students following the University’s delegation led by Prof. Ip to the UAE in April. HKUST was also the first local university to sign an agreement with the Indonesian government in May, attracting top Indonesian undergraduate students to join the University with Indonesian scholarships. Prof. Ip noted that the government’s efforts to boost the supply of student hostels to accommodate new students are very beneficial.
Prof. Ip is also pleased to see the further promotion of STEAM education in primary and secondary school, and she praises the innovative “She inspires” mentorship program, which allows female university students to learn from successful women mentors. “As the first female to serve as president of eight publicly-funded universities in Hong Kong, I hope more successful women can serve as role models to inspire young women to reach their full potential based on their abilities and interests. This will help foster a diverse management culture and contribute positively to society,” she added.
About The Hong Kong University of Science and Technology
The Hong Kong University of Science and Technology (HKUST) (https://hkust.edu.hk/) is a world-class university that excels in driving innovative education, research excellence, and impactful knowledge transfer. With a holistic and interdisciplinary pedagogy approach, HKUST was ranked 3rd in the Times Higher Education’s Young University Rankings 2024, while 12 of its subjects were ranked among the world’s top 50 in the QS World University Rankings by Subject 2024, with “Data Science and Artificial Intelligence” being ranked first in Hong Kong and 10th in the world. Our graduates are highly competitive, consistently ranking among the world’s top 30 most sought-after employees. In terms of research and entrepreneurship, over 80% of our work was rated “Internationally excellent” or “world leading” in the latest Research Assessment Exercise 2020 of Hong Kong’s University Grants Committee. As of June 2024, HKUST members have founded 1,747 active start-ups, including 10 Unicorns and 14 exits (IPO or M&A).
