With the Middle East presenting fresh opportunities for Hong Kong’s I&T sector, Cyberport joined an influential I&T delegation to Saudi Arabia and the United Arab Emirates, led by Professor Sun Dong, Secretary for Innovation, Technology and Industry. This mission sought to strengthen connections and promote collaboration between Hong Kong’s I&T sector and its Middle Eastern counterparts.
Cyberport also participated in LEAP 2024 in Saudi Arabia, where it showcased eight of its community start-ups and their innovative solutions in AI, FinTech, Smart Living, Digital Entertainment, and Web3 to a massive audience at the iconic international tech conference. The participation enabled invaluable exchanges with local institutions and paved the way for expansion of the Cyberport’s community start-ups into the Middle Eastern market.
In addition, Cyberport signed an MoU with the King Abdulaziz City for Science and Technology (KACST), a renowned national laboratory in Saudi Arabia, to mutually bolster their start-up ecosystems. Cyberport also witnessed the signing of another MoU between Animoca Brands and KACST to promote synergies in Web3.
In his speech at LEAP, Professor Sun highlighted the delegation’s role in fostering interactions with global tech leaders, potential partners and investors, as well as demonstrating Hong Kong’s I&T capabilities. He expressed confidence that the strategic partnerships between KACST and Cyberport, as well as Hong Kong Science Park, will deepen the Hong Kong-Saudi I&T exchange, accelerate the growth and development of start-ups, and nurture more global I&T talent.
Under Cyberport’s MoU with KACST, the two organisations will help start-ups make a soft landing and establish a foothold in their respective markets. This includes tapping into networks of investors, mentors, partners, and market connections, as well as exploring joint initiatives in infrastructure and technology to improve operational efficiency, management practices, and service quality.
The MoU between Animoca Brands and KACST will see the two parties forming a strategic partnership to help companies and institutions enter the Web3 system and advance Web3 applications in Saudi Arabia. They will also collaborate on joint R&D projects in blockchain applications, gaming, AI, and metaverse development, including the creation of a laboratory to showcase cutting-edge games and innovative technologies.
Commenting on the success of the trip, Peter Yan, CEO of Cyberport, said: “Our participation in LEAP 2024 and the strategic alliance with KACST are crucial steps towards expanding our community’s network in the Middle East, which has already welcomed more than 20 of our companies. Our initiatives will also attract Middle Eastern companies and investors to Hong Kong, encouraging them to pursue opportunities and form comprehensive I&T collaborations. These efforts are in line with Hong Kong’s goals of strengthening regional ties with Belt and Road countries and creating new avenues for mutual growth.”
