The Hong Kong University of Science and Technology (HKUST) recently inaugurated its Blue Bay Qianhai Innovation Center (the Center), marking a significant strategic step in strengthening the University's presence in Qianhai, deepening Shenzhen-Hong Kong collaboration, and expanding its global innovation footprint.
The launch of the Center represents the latest milestone in the development of HKUST's Blue Bay innovation and entrepreneurship ecosystem in Shenzhen. Since establishing the HKUST Blue Bay Incubator and its first base in Nanshan in 2016, HKUST has steadily expanded its innovation footprint in the city, adding a second base in the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone in 2020 and now a third strategic base in Qianhai. Together, the three bases form an integrated platform that supports technology transfer, startup incubation, entrepreneurship, and cross-border innovation collaboration between Hong Kong and Shenzhen.
The HKUST Blue Bay Incubator is the first incubator in Shenzhen independently operated by a Hong Kong higher education institution. It specializes in frontier technology sectors, including next-generation information technology, artificial intelligence (AI), and embodied intelligence.
Dedicated to early-stage deep-tech incubation, the commercialization of research outcomes, and the integration of international innovation resources, the Center aims to foster closer synergy between HKUST's research excellence and the industrial ecosystem of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). Through this platform, HKUST seeks to accelerate the commercialization of deep technologies and cultivate the next generation of technology leaders.
The inauguration ceremony was officiated by Prof. Harry SHUM, HKUST Council Chairman; Ms. WEN Ping, Deputy Director-general of the Qianhai Authority; Ms. LAI Sui-King, Director of the Shenzhen Liaison Unit of the HKSAR Government; Prof. Tim CHENG Kwang-Ting, HKUST Vice-President for Research and Development; and Prof. Ricky LEE Shi-Wei, Vice-President (Research) of HKUST (Guangzhou). More than 200 representatives from government, academia, industry, and venture capital in Hong Kong and Shenzhen attended the event to celebrate this milestone.
In his remarks, Prof. Harry Shum likened the journey from laboratory research to market adoption to an "innovation adoption curve," highlighting the greatest challenge lies in crossing the "valley of death" between what is technically possible and what can be scaled commercially. He emphasized that Qianhai is uniquely positioned to bridge scientific research and technology translation by integrating research, capital, and industry. The inauguration of the Center, he said, reflects HKUST's strategic alignment with national priorities and the opportunities arising from Shenzhen-Hong Kong collaboration. It also marks a pivotal shift from incubation to full-spectrum empowerment within the regional innovation ecosystem.
Prof. Shum added that the Center will continue to strengthen the integration of HKUST's research and innovation capabilities with Qianhai's industrial ecosystem, contributing to the development of the GBA as a globally competitive innovation and technology hub.
As HKUST's latest strategic initiative in Shenzhen, the Center is designed to further strengthen the University's innovation and entrepreneurship ecosystem by providing an open platform with an international outlook and robust Hong Kong-Shenzhen connectivity. The inaugural cohort comprises ten promising, early-stage ventures spanning AI, robotics, life sciences, and health technology. These startups, founded by HKUST faculty members, researchers, and alumni, demonstrate the University's strong culture of innovation capabilities and entrepreneurial excellence.
Prof. YANG Jinglei, General Director of the HKUST Shenzhen-Hong Kong Collaborative Innovation Research Institute, emphasized the Center's commitment to addressing industry needs and tackling challenges faced by early-stage startups. Through the implementation of a systematic framework to support early-stage hard-tech projects, the initiative aims to foster innovation, accelerate growth, and pave the way for global expansion.
The event also marked the launch of the Blue Bay Global Launchpad, a platform designed to support the international growth of technology and innovation enterprises. By integrating high-quality resources, such as overseas distribution channels and global business networks, the platform will provide one-stop support services for GBA technology companies seeking international expansion, while also attracting overseas innovation teams to the region.
At the same event, HKUST officially launched the 2026 HKUST One Million Dollar International Entrepreneurship Competition (Shenzhen) in Qianhai. The competition features both a dedicated "GBA Track" and an "Overseas Track." Since its inception in 2016, this flagship innovation and entrepreneurship competition in the GBA has incubated a total of 1,806 projects. It has facilitated the commercialization of 376 university research projects, with 96 projects in securing post-competition funding, and helped 57 companies achieving valuations exceeding RMB100 million.
Prof. Tim Cheng underscored the central role of innovation and entrepreneurship in HKUST's development strategy. He noted that the University is committed to encouraging faculty members and students to translate cutting-edge research into innovative solutions with strong market potential and meaningful social impact. By leveraging HKUST's research strengths and Blue Bay's extensive experience in early-stage venture incubation, the Center is set to become a key platform for connecting HKUST's innovation with the broader innovation ecosystem in Shenzhen and the GBA, thereby accelerating the growth of deep tech enterprises.
Prior to the inauguration ceremony, representatives from the Shenzhen and HKSAR governments, together with HKUST leadership, toured the Center to learn more about the incubated startups and the University's latest research commercialization achievements. They also exchanged views on strengthening the Shenzhen-Hong Kong collaborative innovation ecosystem and discussed the Center's future development plans.
Looking ahead, the Center will continue to leverage Qianhai's rich innovation resources and strategic advantages to accelerate the commercialization of university research outcomes, injecting new momentum into the development of the GBA as a leading international innovation and technology center.
