Prof. Nancy IP, President of The Hong Kong University of Science and Technology (HKUST), warmly welcomes the 2026-27 Budget delivered today by the Financial Secretary of the Hong Kong Special Administrative Region. She said, "2026 marks the outset of the nation's '15th Five-Year Plan'. The Budget sets out important initiatives to enable Hong Kong to proactively align with national strategies, integrate into the country's overall development, and drive long-term, high quality development for both the nation and Hong Kong."
HKUST will actively support the implementation of the Budget, and work closely with sectors across society to help Hong Kong develop into an international innovation and technology (I&T) hub, accelerate I&T deployment in the Northern Metropolis and the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone (Hetao Hong Kong Park), while leveraging the city's unique role as a gateway connecting the Chinese Mainland and the world to build a magnet for global talent.
President Ip also welcomes the HKSAR Government's establishment of the "Committee on AI+ and Industry Development Strategy" to formulate strategies for AI-enabled industrial transformation and growth, in alignment with the national "Artificial Intelligence+" initiative. She noted, "In HKUST's Strategic Plan 2031, 'AI, Future Computing, and Electronics' is designated as a core research focus. We are committed to pushing forward cross-disciplinary innovation through AI, empowering advances across education, medicine, materials science, arts and technology, climate science, finance, transportation, and more. In biomedicine and health technology, for example, around 30% of HKUST's research output is related to these areas, alongside other high-impact applications such as new materials, new energy, and microelectronics."
AI development demands substantial computing power-an area where HKUST holds a distinctive edge. Anticipating the explosive growth of AI, the University made decisive investments to strengthen its computational capacity. HKUST's High Performance Computing Facility, now under construction, will be equipped with Hong Kong's largest H800-based supercomputing module and is expected to commence operation by mid-year-underscoring the University's foresight and determination.
Regarding the Government's plan to allocate HK$50 million to collaborate with technology enterprises and universities to enhance AI awareness and practical skills among students, youth, and the public, HKUST offers its full support and active collaboration. In the 2021-22 academic year, the University launched the innovative "Major+X" extended major curriculum, enabling students to acquire cross-disciplinary competencies-including AI-alongside their core majors. To date, the initiative has equipped more than 1,300 students to meet future challenges.
President Ip looks forward to the Innovation and Technology Industry-Oriented Fund (ITIF) commencing operation within the year, believing it will help advance the strategic agenda set out in the Hong Kong I&T Development Blueprint. She noted, "Ensuring the long term sustainability of research requires a diversified and resilient funding model, where public-private partnerships are particularly effective. In recent years, the Government matching schemes have fostered collaboration among the government, industry, academia, research, and investment communities, further strengthening the I&T ecosystem. The InnoHK initiative has also propelled collaborations between Hong Kong universities and top global institutions to establish world-class research laboratories, injecting strong momentum into Hong Kong's development as an international I&T hub."
Talent development is pivotal to I&T progress. Since 2022, HKUST has successfully recruited over 160 scholars from world-leading universities. Last year, the University launched the Targeted Hiring Scheme to recruit top-notch scholars in strategic areas, including brain science and brain-inspired research; gene and biotechnology; clinical medicine and health; AI and robotics; and the exploration of deep space, deep sea, deep earth, and the polar regions, attracting world-class faculty to lead major national research endeavors. Notable examples include the establishment-with the Government support under InnoHK-of the Hong Kong Space Robotics and Energy Center, which is spearheading an international research team to participate in the multi-functional lunar space operation robot for the national Chang'E 8 mission. In mid-2026, an HKUST-developed high-precision, point source greenhouse gas detection instrument is also slated to launch aboard Tianzhou 10 for deployment on the China Space Station to monitor greenhouse gas emissions.
Since 1999, HKUST has been actively shaping Hong Kong's I&T ecosystem. By bringing together government, investors, and industry, the University has set up joint laboratories in multiple strategic areas and fostered an environment that supports the translation of research excellence into startups with tangible societal impact. HKUST ranks 33rd globally and 1st in China in academic patent influence, with a patent utilization rate exceeding 30%, on par with the world's leading research institutions. As of January 2026, with support from the Redbird Innovation Fund and the HKUST Entrepreneurship Fund, the HKUST community has founded over 1,900 active startups, including 10 unicorns and 21 companies that have successfully exited via IPOs or M&As-continuing to drive innovation and entrepreneurship in Hong Kong, the region, and beyond.
Furthermore, President Ip hails the Budget's commitment to fast-track the Northern Metropolis, including an additional HK$10 billion investment to accelerate development in Hetao Hong Kong Park, fostering deep integration between technological innovation and industry. She expressed HKUST's deep gratitude to the Government for approving the establishment of its new School of Medicine, granting land at Ngau Tam Mei New Development Area in the Northern Metropolis for its permanent campus, and planning an integrated teaching and research hospital. HKUST is committed to working alongside the Government in accelerating the preparatory phase and contributing its expertise to the development and operation of the comprehensive medical complex, fostering the synergy between healthcare and innovative technology in Hong Kong.
A Steering Committee for the School of Medicine chaired by President Ip is providing strategic direction on curriculum design, faculty recruitment, clinical partnerships, and resource planning. In parallel, the University has commenced a global search for the Founding Dean. HKUST envisions the School working closely with hospitals and industry to create a "bed-lab-industry-bed" full-cycle medical innovation ecosystem, generating strong synergies with the San Tin Technopole and the University Town within the Northern Metropolis.
The Hetao Hong Kong Park's strategic priorities-life and health, AI and data science, and advanced manufacturing-are highly aligned with HKUST's research strengths. President Ip said the University plans to establish laboratories in Phase 1 of the Park. Once the School of Medicine is established in the Northern Metropolis, HKUST will fully integrate with the Hetao Co-operation Zone.
President Ip also affirmed that promoting the "Study in Hong Kong" brand will strengthen the city's status as an international education hub. HKUST actively supports the Government's efforts to promote this brand and remains committed to fostering a diverse and international campus. Among non-local students admitted each year, aside from those from the Chinese Mainland, nearly half come from over 80 countries and regions-including Germany, France, Egypt, Brazil, Mongolia, and Uzbekistan-representing the highest proportion among University Grants Committee-funded universities in Hong Kong. HKUST also attracts global talent through a range of scholarships and innovative academic programs, and is expanding partnerships across Belt and Road regions, including the Middle East and ASEAN, to attract more students to study at HKUST.
President Ip concluded, "HKUST remains steadfast in our guiding ethos of 'Teaching and Research as the Core, Innovation for Impact'. We will fully support the implementation of the Budget and Hong Kong's alignment with the nation's '15th Five-Year Plan'. We are confident that, by deepening internationalization in education and industrialization of innovation, Hong Kong will continue to lead globally in I&T and higher education, and contribute more significantly to the nation's high-quality development."
