Press Release

[22 February 2024, Hong Kong] – The Hong Kong Applied Science and Technology Research Institute (ASTRI) has inaugurated a “FinTech and ESG Alliance” today to foster a dynamic platform for exchange and knowledge-sharing. This alliance aims to enhance engagement with regulators, policymakers, incubators and accelerators, FinTech start-ups and enterprises, as well as other stakeholders to promote technological collaboration and commercialisation, bolstering Hong Kong’s role as a world-leading green FinTech hub.

ASTRI was honoured to have the Hon Jeffrey Lam, Member, Executive Council and Legislative Council, HKSAR Government, as our Guest-of-Honour, together with over 400 experts and leaders from the academia, FinTech and the green sectors witness this special occasion. Distinguished representatives from the Hong Kong Monetary Authority, Invest Hong Kong and several financial institutions were invited to address the seminar. The discussion covered various topics such as the digital transformation of banking and insurance industries, digital asset, sustainable finance and related policy, heralding a new era of digital innovation in financial industry.

In the Policy Address 2023, the HKSAR Chief Executive highlighted the government’s commitment to driving green and sustainable finance in Hong Kong. In addition, Financial Secretary said earlier that building Hong Kong as an international green tech and green finance hub is one of the main goals in the coming year, as sustainability is a global agenda. “Alongside promoting the development of technological solutions and providing early-stage funding support for pre-commercialised green FinTech, we’re dedicated to expanding the green FinTech ecosystem and developing Hong Kong into a green FinTech hub,” said the Hon Jeffrey Lam, who also commended ASTRI for its significant contribution in this initiative.

“Our expertise in the financial sector spans a broad spectrum, providing diversified financial products and services in banking, investment, insurance and others, which exemplifies our role as Asia’s green FinTech hub,” he added.

Technology transforms financial services
The financial sector has long been a vital pillar of Hong Kong economy, contributing to over 20% of the city’s GDP. As Hong Kong continues to evolve into an international innovation and technology hub, there is an explosive expansion in the FinTech community.

Ir Sunny Lee, Chairman, ASTRI stressed that national policy supports Hong Kong’s journey to become a global innovation and technology (I&T) hub, with FinTech playing a crucial role in smart city development. “The Alliance serves as an effective communication platform for the industry to explore the utilisation of emerging technologies such as AI and blockchain to revolutionise financial services, enhance operational efficiency, and expedite the I&T adoption to benefit businesses and the public, cementing Hong Kong’s leading role as a financial hub,” he said.

Promote FinTech adoption for ESG
To foster the development of a knowledge-based economy and enhance accessibility to financial services for both the public and businesses, the HKSAR Government actively supports the growth of financial technology. This includes promoting more FinTech services and products to undergo proof-of-concept trials, alongside the enhancement of innovative FinTech infrastructure.

Mr Joseph Chan, Under Secretary for Financial Services and the Treasury, HKSAR Government said:”To better integrate Fintech with green finance and actively expand the green Fintech ecosystem, we will launch a dedicated proof-of-concept subsidy scheme for green Fintech in the first half of this year. This pioneering scheme is designed to stimulate the development of innovative technological solutions in the green sector and to offer early-stage funding support for pre-commercial green Fintech initiatives.”

Aligned with the HKSAR Government’s initiatives, ASTRI has commercialised several self-developed technologies in FinTech & ESG fields. Key projects include: (1) collaborating with Bank for International Settlements (BIS) and Hong Kong Monetary Authority to establish a proof-of-concept CBDC system focusing on safety, flexibility and privacy; (2) creating a privacy-preserving Federated Learning model to enable banks to utilise alternative data for developing new credit models and aiding SMEs in obtaining financing; (3) establishing a sandbox environment to offer private, controlled and quorum-based runtimes for assessing the performance and security of smart contracts.

With the escalation of global climate change, there is a growing demand for environmental, social and governance (ESG) information disclosure from listed companies worldwide. ASTRI’s “Artificial Intelligence ESG Report Analysis” technology leverages artificial intelligence (AI) and deep learning technologies to assist financial institutions in enhancing the efficiency of processing ESG report data. This innovative solution aids in meeting regulatory compliance requirements and information disclosure standard, while minimising compliance cost.

Encourage I&T collaboration
The “FinTech and ESG Alliance” marks ASTRI’s third alliance formation. Dr Denis Yip, Chief Executive Officer of ASTRI said: “Building on our previous achievements, our goal is to engage with all stakeholders to develop a holistic ecosystem that paves the way for an innovative era of financial services and sustainability. ASTRI remains committed in advancing knowledge transfer and technological innovation, fostering collaboration among Alliance members and the global industry through a range of networking and matchmaking initiatives.”

ASTRI is dedicated to promoting collaboration among government, industry, universities and research sectors. This commitment aims to enhance cooperation across the I&T industry’s upstream, midstream, and downstream segments, while also nurturing Hong Kong’s financial talent pool. Over the past two years, ASTRI has entered into Memorandum of Understanding (MoUs) with six local universities (HKU, CUHK, HKUST, City U, PolyU and BU) and formed two industry alliances: the “Microelectronics Technology Consortium” (November 2022) and “Smart Mobility Technology (C-V2X) Alliance” (April 2023).

The newly established “FinTech and ESG Alliance” is backed by banks, financial institutions and businesses. It aims to foster the convergence of emerging FinTech solutions and drive the digital transformation of conventional financial and insurance services to enhance operational efficiency. The Alliance is set to host a series of events for its members including talks, seminars, technology showcases, overseas missions, to facilitate collaboration among stakeholders and tap into fresh opportunities in the Mainland China and overseas, injecting new impetus into Hong Kong’s economy.

The FinTech and ESG Alliance is officially launched today (22 February) in the presence of the Hon Jeffrey Lam, Member, Executive Council and Legislative Council, HKSAR Government (centre), Ir Sunny Lee, Chairman of ASTRI (right), and Dr Denis Yip, Chief Executive Officer of ASTRI (left)

Over 400 technology experts and leaders from the financial and green sectors gathers at HKCEC to celebrate the establishment of ASTRI’s FinTech and ESG Alliance

Officiating guest the Hon Jeffrey Lam speaks at the launch ceremony of the FinTech and ESG Alliance

Ir Sunny Lee, Chairman of ASTRI

Dr Denis Yip, Chief Executive Officer of ASTRI

Mr Damien Green, Chairman of Manulife Financial Asia Limited delivers a keynote speech on “Insurance Redefined: Embracing Digital Innovations for a New Era”

Mr Edward Au, Southern Region Managing Partner of Deloitte China explores the factors for driving sustainable finance development

Mr Michael Law, Senior FinTech Director of Hong Kong Monetary Authority examines the opportunities and challenges involved in building a robust FinTech ecosystem in Hong Kong

(From left to right) Mr Simon Lee, ASTRI’s Director of FinTech, Prop-Tech and Art-Tech, The Hon Duncan Chiu, Legislative Council Member, Mr Albert Lo, Chief Architect, Nova Credit, Ms Michelle Mak, Leader, Head of ESG and Enterprise Learning, Dun & Bradstreet HK and Mr Ronald Young, Head of Sustainable Finance Asia, Societe Generale participate in a panel discussion on “ESG Factors in Sustainable Finance: Navigating the Evolving Landscape”

Mr Dominic Maffei, Digital Asset and FinTech Strategy Lead at Standard Chartered Bank discusses on unleashing banking transformation through FinTech and Digital Assets

Ms Teresa Lin, Advisor, BIS Innovation Hub presents a keynote address titled “Innovation, Collaboration, and Sustainable Finance: The Role of Central Banks in Driving Positive Change”

Mr King Leung, Head of Financial Services and FinTech, Invest Hong Kong discusses on leveraging FinTech to promote sustainable development

Mr Joseph Chan, Under Secretary for Financial Services and the Treasury, HKSAR Government delivers a closing remarks at the event

[Hong Kong, 31 January 2024] Standard Chartered Bank (Hong Kong) Limited and FreightAmigo have joined forces to utilize a privacy-preserving technology-“Federated Learning”, developed by the Hong Kong Applied Science and Technology Research Institute (ASTRI) to empower small and medium-sized enterprises (SMEs) in Hong Kong with enhanced access to financial products and services, simplifying the financing and credit application and approval procedures for SMEs.
In line with the 2023 Policy Address objectives to unlock potential of SMEs, “Federated Learning” technology-powered financial solutions are poised to tackle the financing and cash flow needs of SMEs, especially those in the quickly growing e-commerce and cross-border trade sectors. SMEs can enhance their business development and market expansion plans by addressing challenges related to financing, cash flow and information fragmentation.
FreightAmigo is a full-service, one-stop international supply chain finance platform that aims to innovate and redefine the logistics experience for individual and corporate clients. FreightAmigo platform provides a seamless search and comparison process for instant freight quotes, empowering businesses to access comprehensive shipment data, track cargo status, and facilitate secure payment and financing. By providing real-time visibility across the entire supply chain, all stakeholders gain invaluable insights, FreightAmigo’s SME clients experience rapid turnaround times and the flexibility to draw down on their facility, effectively meeting the demands of their evolving business landscape. FreightAmigo’s accolades include winning the Digitizing Trade Finance track at the Bank of International Settlements Innovation Hub (BISIH) and the Hong Kong Monetary Authority (HKMA)’s TechChallenge in 2020.

By leveraging on Federated Learning technology developed by ASTRI, which enables collaborative machine learning while keeping all the training data on device to safeguard data privacy, Standard Chartered Bank worked with FreightAmigo to harnesses the vast data sets available on FreightAmigo’s platform with their diverse user base, which includes SMEs, eCommerce businesses, and cross-border traders to generate predictive machine learning models in an encrypted way, ensuring customers’ privacy and data security could be safeguarded throughout the process.

These trained models could then be effectively utilized to generate lists of prospects that are best suited for Standard Chartered Bank’s financial products and services based on clients’ behavioural patterns on FreightAmigo’s platform. This would help to solve SMEs’ long-standing pain point of information overload in finding suitable financial products and services. This ultimately enhances SMEs’ access to financial solutions that are the best matches for them.

ASTRI’s Federated Learning technology has received notable recognition, including the “Asia FinTech Award 2023 – Data Initiative of the Year” and the “BUSINESS GOVirtual Tech Awards 2023 – Tech Company of the Year (Excellence Award in FinTech)”. The successful collaboration between Standard Chartered Bank and FreightAmigo serves as a testament to the vast potential of open shared data in the FinTech sector. “Federated Learning” facilitates pre-screening of suitable financial services and products for SMEs, enabling financial institutions to evaluate and approve loans effectively. With consent from authorised financing merchants, the data partner employs established models and alternative data to assess borrowers’ creditworthiness, evaluate their competitiveness within the industry, and provide valuable insights for the financial institutions. This platform benefits a diverse range of users, including financial regulatory authorities, organisations utilising AI technology, research communities, and the general public.

In addition to harnessing advanced FinTech solutions, SMEs can take advantage of FreightAmigo’s unprecedented promotion offers, which provide discounts exceeding HK$20,000. This exclusive discount offer encompasses FreightAmigo’s full range of door-to-door logistics solutions, spanning air freight, sea freight, rail freight, express services and cross-border trucking, while covering over 250+ countries and regions. FreightAmigo offers access to a vast network of over 1,000 partners, facilitating seamless connections and augmenting supply chain efficiency.

Dr Denis Yip, Chief Executive Officer of ASTRI said “Federated Learning” technology eliminates the need to transmit data to a centralised database, reducing security risks significantly. “This innovative financial solution revolutionises cash flow, point-of-sale transactions, utility bill receipts and other data into alternative data that can be utilised for credit scoring. Not only does this safeguard privacy, but also simplifies the loan process, expedites approval, and provides banks with more comprehensive data for reference. Moreover, this collaboration would encourage more SMEs to incorporate advanced technologies into their daily operations while attracting other industries, such as insurance, to leverage the potential of ‘Federated Learning’ technology,” he added.

Ms Ivy Tse, Co-CEO and Co-Founder, FreightAmigo Services Limited, said: “As a key player in the TradeTech ecosystem and a 1-stop international supply chain finance platform, FreightAmigo’s core mission is to ‘Make Trade Easier’, we are revolutionizing the trade industry by providing cutting-edge technology solutions that combine Federated Learning and FreightTech AI technologies. This integration optimizes supply chain operations and streamlines trade financing. We can now offer our valued partners, such as Standard Chartered Bank, access to valuable insights derived from our dynamic logistics data while ensuring the utmost privacy and security of our clients’ information. We always enhance this collaborative approach allows us to streamline the trade financing process, better target financial products and services for SMEs, and ultimately enhance the overall customer experience. Together, we are shaping the future of global trade.”

Ms Winnie Tung, Head of Business Banking, Standard Chartered Bank Hong Kong, said, “Customer’s experience is of utmost priority in Standard Chartered Bank. Meanwhile, we have always been actively searching for digital and innovative ways to better serve our Business Banking clients. The collaboration with ASTRI and FreightAmigo facilitated us to better target our products and services at suitable SMEs while ensuring our clients’ data privacy is well secured. Not only this could provide better client experience by saving our Business Banking clients’ efforts on going through loads of information to identify suitable financial products, but for our bank, we could also streamline our prospecting process and ensure that we are providing the right products to clients with the right needs.”

(From left) Ms Winnie Tung, Head of Business Banking, Standard Chartered Bank Hong Kong; Dr Denis Yip, Chief Executive Officer of ASTRI; Ms Ivy Tse, Co-CEO and Co-Founder, FreightAmigo Services Limited

[Hong Kong, 8 December 2023] The Hong Kong Applied Science and Technology Research Institute (ASTRI) won 10 awards at the Asia Exhibition of Innovations & Inventions Hong Kong, including “Gold Medals with Congratulations of Jury”, “1st Prize of Inventions Geneva Awards” along with two Gold and six Silver medals.

According to Ir Sunny Lee, Chairman of ASTRI, competing with over 110 ground-breaking inventions from Hong Kong and neighbouring countries and cities is no easy feat, making their outstanding achievements more remarkable. “We are honoured to have jury’s affirmation on our Research and Development (R&D) capabilities as well as the market potential of our inventions. Moving forward, ASTRI will continue to work closely with our stakeholders and partners to promote innovation and technology (I&T) commercialisation, playing a pivotal role in helping Hong Kong develop into an international I&T,” Ir Lee said.

Dr Denis Yip, Chief Executive Officer of ASTRI expressed his delight in the global recognition of ASTRI’s inventions and extended his congratulations to the R&D team. “With their unfailing efforts, ASTRI is able to excel in high-quality research and technological innovation. As the largest R&D centre in Hong Kong, ASTRI is dedicated to enhancing the city’s I&T ecosystem. Our goal is to foster collaboration among government, industry, academia and research institutes in this field.” Dr Yip also emphasised ASTRI’s commitment to supporting research talents in turning innovative ideas into smart technologies that benefit society through knowledge and technology transfer.

The award-winning inventions span across six categories, including Smart City, Smart Home, Smart Finance, Health Technologies and Medicine, Smart Transportation and Smart Industry. Dr Chun-kit Cheung and Mr Samuel Tak-lok Shum were awarded the “Gold Medal with the Congratulations of Jury” and “1st Prize of Inventions Geneva Award” for their innovative Smart Contactless Robot Charging (SCRC) technology. The invention could be implemented in smart production to optimise productivity and reduce labour costs. Below is a complete list of ASTRI’s award-winning inventions:

The annual exhibition-cum-competition is jointly organised by the Hong Kong Exporters’ Association and Palexpo, the organiser of the International Exhibition of Inventions Geneva. Aiming to present Asia’s cutting-edge technologies, versatile inventions and solutions to the world, the event features an international jury consisting of some 30 industry specialists, choosing winners for more than 40 prizes, including Grand Award, Inventions Geneva Award, Venture Capital Award, IFIA Award as well as Gold Medal, Silver Medal and Bronze Medal.

ASTRI wins 10 awards at the Asia Exhibition of Innovations and Inventions Hong Kong

Dr Denis Yip, Chief Executive Officer of ASTRI expressed his delight in the global recognition of ASTRI’s inventions and extended his congratulations to the R&D team

ASTRI was awarded the “Gold Medal with the Congratulations of Jury” and “1st Prize of Inventions Geneva Award” for their innovative Smart Contactless Robot Charging (SCRC) technology. The invention could be implemented in smart production to optimise productivity and reduce labour costs.

[Hong Kong, 10 November 2023] The Hong Kong Applied Science and Technology Research Institute (ASTRI) held the “Microelectronics Technology Consortium Symposium cum Luncheon” at the Cordis Hotel today. Attended by Mr Ivan Lee, Commissioner for Innovation and Technology, Mr Philip Yung, the Director-General of the Office for Attracting Strategic Enterprise (OASES), and more than 200 industry stakeholders, the event celebrated the achievements of Microelectronics Technology Consortium (METC) in the past year and how it continues to promote the sustainable development of the city’s microelectronics ecosystem.

The Hong Kong SAR Government has been fervently promoting the development of the microelectronics industry in recent years and will establish the “Hong Kong Microelectronics Research & Development Institute” next year. Semiconductor industry is also one of the most important hi-tech industries in the Mainland.

During the Forum, speakers from various industries, academia, and tech sectors shared their inspiring insights on the development of the microelectronics industry. They also highlighted Hong Kong’s pivotal role as a microelectronics research centre, and the potential for industrial application of discoveries made by Hong Kong microelectronics researchers.

The METC promotes collaboration and exchanges among Government, industry, academia and research sectors through organising thematic seminars, large-scale exhibitions and missions to the Greater Bay Area (GBA). The METC serves as a platform for cultivating closer ties between local and mainland industries, as well as fostering potential collaborations and partnerships.

Ir Sunny Lee, Chairman of ASTRI, commented: “Microelectronics technology is closely linked to the societal progress. With the growing demand for industrial transformation and local supply chain, Hong Kong must accelerate research and development (R&D) for next-generation microelectronics. The industry’s support for the METC over the past year has highlighted ASTRI’s crucial role in facilitating technological advancement and industrial chain restructuring. By fostering a thriving microelectronics ecosystem, we believe that we can attract more global research talents and investment to Hong Kong, driving the city’s economic growth.”

Dr Denis Yip, CEO of ASTRI, said: “The METC has had a productive and fruitful year, reaching out to more than 1,500 industry stakeholders and expanding its corporate members to 70. The METC launched six related R&D projects in collaboration with universities. Given Hong Kong’s geographic advantages, robust legal system, excellent research environment, and remarkable talent pool, I am confident that the microelectronics industry in Hong Kong will witness significant growth. ASTRI will continue to foster cooperations with the GBA cities and beyond, accelerating the integration of microelectronics technological development and industrial applications, while enhancing our global competitiveness and tapping new business opportunities.”

ASTRI has more than 10 years of experience in promoting the microelectronics industry in Hong Kong, focusing on R&D, training researchers, and technology transfer in the fields of third-generation semiconductors, 3D integrated chips, electronic design automation (EDA) technology, and power-conversion and energy-saving systems. In line with the Government’s policy on consolidating resources for next-generation semiconductor R&D, ASTRI will continue to work closely with the METC members to promote the development of the microelectronics industrial chain in Hong Kong, consolidating the city’s position as an international centre of microelectronics innovation and excellence.

Welcoming Speech by Ir Sunny Lee, Chairman of ASTRI

Speech by Mr Ivan Lee, Commissioner for Innovation and Technology

Dr Denis Yip, CEO of ASTRI shared the achievements of METC in the past year

(From Left) Ir Sunny Lee, Chairman of ASTRI, Mr Ivan Lee, Commissioner for Innovation and Technology, Dr Denis Yip, CEO of ASTRI officiated the opening ceremony of “Microelectronics Technology Consortium Symposium cum Luncheon”

More than 200 industry stakeholders attended the Symposium, jointly promoting the sustainable development of the city’s microelectronics ecosystem

Plenary Session – Landscape of Development of Microelectronics Sector in Asia and Europe
Prof. Martin Wong, Provost and Chair Professor of Computer Science, Hong Kong Baptist University

Plenary Session – Landscape of Development of Microelectronics Sector in Asia and Europe
Ir. Dr. H.L. Yiu, Chief Corporate Development Officer, Hong Kong Science and Technology Parks Corporation

Breakout 1 – Hong Kong as the Research Hub for Microelectronics
(From left) Ir. Dr. Joseph Ng, Chief Technology Officer, ASTRI; Prof. King-Ning Tu, Chair Professor, Materials and Electrical Engineering, City University of Hong Kong; Prof. David Srolovitz, Dean of Engineering, The University of Hong Kong

Breakout 2 – Applications of Advancement in Microelectronics Studies
(From left) Mr. Falcon Chan, Partner, Strategy, Analytics and M&A, Deloitte China; Dr. Ming Li, Developer Relationship Director, NVIDIA; Mr. Arthur Chung, Vice President, Avnet Asia

Speech by Mr Philip Yung, the Director-General of the OASES

[Hong Kong, 14 November 2023] The Hong Kong Applied Science and Technology Research Institute (ASTRI) and the Housing Bureau (HB) signed a Memorandum of Understanding (MOU) today (November 14) to establish a strategic partnership, aiming at exploring innovative technology solutions for enhancing construction efficiency and safety, as well as optimising property management processes.

Witnessed by the Secretary for Housing, Ms Winnie Ho; the Secretary for Innovation, Technology and Industry, Professor Sun Dong; the Under Secretary for Housing, Mr Victor Tai; and the Board Chairman of the ASTRI, Ir Sunny Lee, the Permanent Secretary for Housing/ Director of Housing, Miss Rosanna Law, signed the MOU with the Chief Executive Officer of the ASTRI, Dr Denis Yip. The MOU signifies the collaboration between ASTRI and the HB to join hands to develop solutions and optimisations for construction and property management through innovative technologies.

Ms Winnie Ho, Secretary for Housing, said, “The HB has been actively adopting advanced technologies and innovative thinking to enhance construction safety and efficiency and to optimise property management. With ASTRI’s rich experience in research and development and application, through joint technical studies with the HB as well as conjoint efforts from various sectors, I believe that the quality and efficiency in areas such as construction, estate management, customer services will be significantly enhanced.”

Professor Sun Dong, Secretary for Innovation, Technology and Industry, said, “The Innovation and Technology Bureau welcomes that the HB actively utilises and integrates innovation and technology (I&T) solutions into aspects of construction and property management, aiming to make Hong Kong a more liveable city. Leveraging ASTRI’s rich experience in the transfer of research and development (R&D) deliverables in Hong Kong and the Mainland, combined with the diversified application scenarios provided by the HB, will help facilitate cross-sectoral collaboration to accelerate the transfer of R&D, and bring about new opportunities and perspectives for the I&T development of Hong Kong’s housing.”

Ir Sunny Lee, Chairman of ASTRI, said, “The partnership between ASTRI and the HB marks a new chapter in the development of construction and property management in Hong Kong. It also promotes the adoption of cutting-edge technologies such as 5G communication, Internet of Things (IoT), artificial intelligence (AI), and optical sensing, resulting in improved construction efficiency and quality, worker and site safety, and energy and resource conservation. These new technologies also help reducing environmental impact and injecting new impetus into the synergistic development of smart cities in Hong Kong and the Mainland.”

Dr Denis Yip, CEO of ASTRI, said, “We are delighted to collaborate with the HB in leveraging innovative technologies and mindsets to create a more liveable environment for citizens and optimise property management services. The adoption of construction and property management technologies can simplify complex tasks, reduce manpower, and ensure completion of tasks in a more precise and secure way. Addressing future housing needs, I believe this collaboration holds immense potential. With the application scenarios provided by the HB, we are able to promote our technologies to the Mainland and global markets.”

The 2023 Policy Address set out the vision of a liveable, innovative and green Hong Kong. Next year, the Housing Authority will launch a pilot scheme in selected Smart Estates for the adoption of innovative technologies, improving daily estate management and smart estate implementation. The signing of the MOU between ASTRI and the Housing Department will promote the development of such innovative technologies. The first batch of technologies under study includes:

Smart Optical Sensing for High Precision Modular Integrated Construction (MiC) Positioning – Through Smart Optical Sensing, positioning tracking, edge AI and other technologies, and using the data provided by dynamic visual sensors for real-time data analysis to calculate the precise location of the MiC modules for installation. This technology can perform under extreme environments, minimises human physically demanding tasks and enhances site safety.

Enhanced 5G Coverage for Remote Crane Control – Deploying a low-latency and reliable 5G private network solution with advanced Internet of Things (IoT) technology on-site, supporting massive number of device connections and enabling remote control of cranes. The implementation of real-time safety and progress monitoring will help lower safety risks of workers and improve the accuracy of crane tasks.

Universal AI Predictive Maintenance System for Lifts – Leveraging IoT data to analyse and develop an AI system capable of predicting lift breakdown patterns, this AI Predictive Maintenance System is compatible with lifts from various manufacturers. The lift downtime is reduced by enabling more efficient on-site maintenance checks through remote, real-time monitoring and accurate breakdown prediction, enhancing the quality of property management services.

ASTRI and the Housing Bureau signed a Memorandum of Understanding (MOU) today (November 14) to establish a strategic partnership, aiming at exploring innovative technology solution. Witnessed by the Secretary for Housing, Ms Winnie Ho (2nd left in back row), the Secretary for Innovation, Technology and Industry Professor Sun Dong (2nd right in back row); the Under Secretary for Housing Mr Victor Tai (left in back row), and the Board Chairman of the ASTRI, Ir Sunny Lee (right in back row), the Permanent Secretary for Housing/Director of Housing, Miss Rosanna Law (left in front row), signed the MOU with the Chief Executive Officer of the ASTRI, Dr Denis Yip (right in front row)

Welcoming speech by ASTRI Chairman Ir Sunny Lee

Speech by Ms Winnie Ho, the Secretary for Housing

Speech by Professor Sun Dong, the Secretary for Innovation, Technology and Industry

Dr Denis Yip, Chief Executive Officer of ASTRI introduced the collaboration in architecture and real estate technology

Supporting Organisations attended the MOU Signing Ceremony

[Hong Kong, 17 August, 2023] The Hong Kong Applied Science and Technology Research Institute (ASTRI) will conclude its “Summer Internship Programme” and “Fintech Future Leader Academy (Internship)” tomorrow (18 August). Nearly 100 students from renowned universities in Hong Kong, mainland China, and overseas emerged from 3,000 applicants and completed the 8-week internship.

Summer Internship Programmes is one of ASTRI’s key talent development initiatives, aiming to give students an insight into the development of Hong Kong’s I&T ecosystem and foster their interest in pursuing a career in the I&T industry, providing an endless supply of research talents. This year’s interns were assigned to various departments to participate in R&D under the guidance of experienced researchers. They also attended several ‘Tech Talk’ and networking events to connect with industry experts from large enterprises and organisations. In addition, interns from the “Future FinTech Leaders Academy” visited several world-renowned financial and technology institutions, including Bank of China Hong Kong, Cyberport, Hewlett Packard Enterprise (HPE), Hong Kong Monetary Authority, IBM, Microsoft Hong Kong, and Hong Kong Science Park Corporation to gain a more comprehensive understanding of FinTech development in Hong Kong.

During their internship in ASTRI, interns had the opportunity to experience a diverse working environment and interact with students from different backgrounds and professions. Some foreign students, visiting Hong Kong for the first time, expressed their interest in understanding the opportunities for I&T development in Hong Kong. At the Graduates’ sharing session, numerous interns shared that they will consider developing their careers in Hong Kong after graduation as they are captivated by Hong Kong’s distinctive role as a facilitator for technology transfer between mainland China and overseas, as well as the R&D environment and living quality. Students studying in mainland China, recognising the golden opportunity for development in the Greater Bay Area, are eager to learn more about Hong Kong’s R&D advancement, particularly in the fields of FinTech and ESG, so as to contribute to the integration of technology between the two regions in the future.

Dr. Denis Yip, Chief Executive Officer of ASTRI, said: “ASTRI attaches great importance to talent development, which should start as early as possible. Our Summer Internship Programme helps students explore their future career development through hands-on experience and provides our researchers with valuable cross-cultural exchange experiences. This year, ASTRI’s internship opportunities were highly competitive, with an acceptance rate of only 3%. Among the interns, 20% came from local and mainland universities, over 40% from the UK, nearly 30% from the US, and others from the Asia-Pacific region, proving that Hong Kong remains the city of choice for students considering long-term career development. We are thrilled that some interns decided to continue their R&D careers and pursue further studies in Hong Kong after completing the internship. By encouraging more young talents to discover the potential for I&T development in Hong Kong through our Summer Internship Programmes each year, we can support the expansion of the I&T talent pool, transforming Hong Kong into a better smart city.

About ASTRI’s Summer Internship Programmes

To cope with the thriving development of the I&T industry in the future, ASTRI’s “Summer Internship Programme” and “FinTech Future Leaders Academy (Internship)” received nearly 3,000 applications this year. The number of interns was doubled as a result of recruitment efforts at universities in Hong Kong, mainland China, and overseas. ASTRI. Interviews were conducted to select 90 candidates for up to 8-week internship at ASTRI from June to August, including students from world-renowned universities such as the National University of Singapore, Australian National University, Durham University, Imperial College London, the University of Oxford, University College London, University of Chicago, Columbia University and University of California in the UK and the US, as well as universities in the Greater Bay Area(“GBA”) including four local universities (The Chinese University of Hong Kong (CUHK), The Hong Kong Polytechnic University, Hong Kong University of Science and Technology (HKUST), The University of Hong Kong), CUHK-Shenzhen, Beijing Normal University & Hong Kong Baptist University United International College and HKUST-Guangzhou in Mainland China. The interns are primarily engaged in STEM disciplines, though some non-STEM students are hoping to understand emerging industries such as ecosystem development and technology transfer through working at research institutions. The majority of interns focus on STEM disciplines, though there are also non-STEM students who work in other corporate functions.

Dr. Denis Yip, Chief Executive Officer of ASTRI (sixth right), Ms. Jennie Wong, Director of Staff (sixth left) and ten representatives of summer interns met with the media at the Graduates’ Sharing event.

[Hong Kong, 26 June, 2023] Hong Kong Applied Science and Technology Research Institute (ASTRI) “Summer Internship Programme” and “FinTech Future Leaders Academy (Internship)” came back and received the highest number of applications ever from local, Mainland China and overseas students. Nearly 3,000 applications were received, an increase of over 20% compared to last year. About 100 outstanding applicants have been selected to participate in the 8-week internship programmes starting today. The programmes are funded by the STEM Internship Scheme under the Innovation and Technology Fund of the Innovation and Technology Commission to encourage STEM undergraduates and postgraduates to enrich innovation and technology (I & T) related work experience and to foster their interest in pursuing a career in I&T after graduation.

Gain Hands-on R&D experience and learn about Hong Kong I&T ecosystem
To cope with the thriving development of the I&T industry in the future, ASTRI has doubled the number of interns this year, including students from world-renowned universities such as the National University of Singapore, Australian National University, Durham University, Imperial College London, the University of Oxford, University College London, University of Chicago, Columbia University and University of California in the UK and the US, as well as universities in the Greater Bay Area(“GBA”) including four local universities (The Chinese University of Hong Kong (CUHK), The Hong Kong Polytechnic University, Hong Kong University of Science and Technology (HKUST), The University of Hong Kong), CUHK-Shenzhen, Beijing Normal University & Hong Kong Baptist University United International College and HKUST-Guangzhou in Mainland China. The interns are primarily engaged in STEM disciplines, though some non-STEM students are hoping to understand emerging industries such as ecosystem development and technology transfer through working at research institutions.

Under the guidance of experienced researchers, interns will involve in applied research and development (R&D) projects in ASTRI’s six core areas: Smart City, FinTech, New Industrialisation and Intelligent Manufacturing, Digital Health, Application Specific Integrated Circuits and Metaverse. In this unique environment, they will learn invaluable hands-on R&D experience in every step from project development, technology research and client communication to knowledge transfer, further exploring the possibility of pursuing a career in research institutions.

In addition to daily duties in R&D departments, interns can attend “Tech Talk” technology seminars and networking events to connect with industry experts from large enterprises and organisations, gaining insight into company operations and the actual situation of Hong Kong I&T industry. Interns of “FinTech Future Leaders Academy (Internship)” will undertake two-week field visits to a variety of prestigious financial and technology institutions including Bank of China (Hong Kong), Cyberport, Hewlett Packard Enterprise (HPE), Hong Kong Monetary Authority, IBM, Microsoft Hong Kong and Hong Kong Science and Technology Parks Corporation to gain a more comprehensive understanding of the development of FinTech in Hong Kong.

Nurturing young talent to enhance a sustainable I&T ecosystem
Enlarging the talent pool is critical in enhancing the I&T ecosystem. As Hong Kong has actively integrated into the national I&T development in recent years, more talents with an international perspective and familiarity with the R&D environment in mainland China are needed. ASTRI is committed to building learning and exchange platforms for the new generation, allowing students to experience the working environment of the I&T industry as early as possible, equipping them with the necessary R&D knowledge and innovative mindset, in order to provide sustainable personnel, research capabilities and long-term development momentum for the ecosystem.

Dr. Denis Yip, Chief Executive Officer of ASTRI, said: “ASTRI’s Summer Internship Programmes receive very positive feedback and reputation every year. More students are interested in studying STEM-related disciplines as it is foreseeable the golden age of the I&T industry in the next five to ten years. Through our “Summer Internship Programme” and “FinTech Future Leaders Academy (Internship)”, we hope students can discover the appeal of the I&T industry through their participation in promoting the implementation of R&D results, allowing them to witness how technology improves the world and enriches life. In the next 8 weeks of the internship, I am eagerly anticipating having close interactions with our interns. I have high hope that our interns will be the inspiration for both themselves and the researchers at ASTRI, by presenting fresh and innovative ideas for our R&D projects.”

A Hundred interns from ASTRI’s “Summer Internship Programme” and “FinTech Future Leaders Academy (Internship”’ stand out from 3,000 applicants and officially commence their 8-week internship.

Dr. Denis Yip, Chief Executive Officer of ASTRI welcomed summer interns on the orientation day.