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HKSTPC Incu-Tech Graduate Enjoys Sweet Tune of Success at the 2012 NBIA Incubation Awards(June 19, 2012)
Incubatees are nominated by their respective incubators from all over the world to compete for the annual NBIA Incubation Awards. In honouring iMusicTech's achievement in product innovation and business development, the Award also represents international acknowledgment of HKSTPC's Incu-TechTM Incubation Programme - a perfect example of the Corporation's commitment to assisting technology start-ups realise their goals.
Resonating with the Corporation's mission of fostering innovation and technological growth in Hong Kong, the incubation programmes have been an integral part of HKSTPC's makeup. It offers a full breadth of support services to start-ups from the general technology (Incu-TechTM), mobile/web application development (Incu-AppTM) and biotechnology (Incu-BioTM) industries. In addition to offering financial aid packages ranging from HK$639,000 to HK$851,000, other key support areas include technical support, marketing and promotion, training and talent development along with investment matching. Both incubatees and graduates have benefitted from investments totalling over HK$774 million via venture capital and angel funds since the programme inception. Just as impressiveis the number of intellectual properties obtained and the number of technical or design awards received by incubatees and graduates, which now totals 543 and 250 respectively.
With the latest success by iMusicTech, yet another important milestone has been achieved by the incubation programmes. iMusicTech is one of the very few companies in Hong Kong which focuses on music technology and is best known for developing the first iPhone karaoke docking device in the world - iMusic Station. Having joined the Incu-Tech Programme in 2009, the company has since obtained valuable advice and business support, which includes product innovation, financial management and marketing skills. iMusicTech has grown from a start-up with only two directorsto an award-winning company with 15 staff members.
Mr Allen Yeung, Vice President of Business Development and Technology Support, HKSTPC, remarked, "I wish to certainly congratulate iMusicTech on their tremendous achievement. As an incubator, weare always proud to see our incubatees enjoy success, thus reaffirm the value of a programme that has helped numerous incubatees and graduates in the past. From this latest accomplishment, I trust that other innovative minds in Hong Kong will be motivated to realise similar levels of success."
While honoured to receive such prominent recognition, Mr Kenneth Chau, Managing Director and Founder of iMusicTech, noted, "When I was in the US for the presentation ceremony in May, I realised that fewforeign IT companies were aware of Hong Kong's innovation and technology sector, let alone its achievements. Thanks to HKSTPC's Incu-Tech, we have gained much from the mentorship programme in areas including business operation and management. We have also benefitted from collaboration with universities. I reckon these have helped us win the Award. Hopefully,our company can contribute to improving the status of local innovations and technologies in the international arena."
Moving forward, iMusicTech plans to further expand operations by introducing innovative solutions on home automation and entertainment, namely a new Intelligent Home Automation Solution and a Digital Rights Management (DRM) solution. The Home Automation technology allows users to integrate and monitor their home appliances, entertainment and security systems via an iPhone/iPad application. The solution possesses immense potential and is presently being promoted amongst several property developers. On the other hand, as the first total DRM solution provider in Hong Kong, iMusicTech is developing a platform where the public is able to access licensed music, videos and multimedia items via a mobile application installed in any smart device. In launching one unique product after another, HKSTPC is proud to see the company continue to grow and head to an increasingly bright future.
Hong Kong Science and Technology Parks Corporation (HKSTPC) is a statutory body set up by the Government of the Hong Kong Special Administrative Region.
HKSTPC provides innovative and technology driven infrastructure and support facilities which include market focused clustered laboratory services enabling Hong Kong industries and services to be more competitive; it provides a full-service incubation programme for technology start-ups, and fosters partnerships and collaboration between industry and universities/applied research institutes through consulting, training and research programmes. HKSTPC offers advanced facilities and support services for high technology companies that include an IC Design Centre, an IC Development Support Centre, a Materials Analysis Laboratory, a Wireless Communications Test Laboratory, an Intellectual Property Servicing Centre, a Solar Energy Technology Support Centre and a Biotech Centre.
More information about HKSTPC is available at www.hkstp.org.
Incubation Programmes of Hong Kong Science and Technology Parks Corporation
Hong Kong Science and Technology Parks Corporation (HKSTPC) offers full-service incubation programmes to assist start-ups in their vulnerable inception stages. Ranging from the 1.5-year Incu-App Programme for mobile/web application, to 3-year Incu-Tech Programme for technology and 4-year Incu-Bio Programme for biotechnology start-ups, the programmes incorporate industry-focused support services that address the needs of new companies during key stages of development. These include marketing and promotions, training and talent development, mentoring programme, consultancy services, investment matching events to connect angel investors and venture capitalists, subsidised R&D fitted office space and financial aid packages to facilitate research and development. Technology start-ups can also benefit from the advanced laboratories and test centres backed up by a team of professional engineers to support research and development in the five focused technology areas: Electronics, Information Technology and Telecommunications, Precision Engineering, Biotechnology and Green Technology.
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