Unicorns Spotlight Hi-Tech Entrepreneurship
In the inaugural “Unicorns HK 2021” shortlist, announced by the Hong Kong X Foundation, six out of 18 companies were founded or co-founded by faculty or alumni from the School of Engineering.
As unicorns, the 18 unlisted start-ups each have a market value of more than US$1 billion. All the companies were also founded, or incubated/headquartered in Hong Kong, or the founders were Hong Kong residents. Those related to HKUST (see table) focus on AI, robotics, high-end manufacturing, sensors, and autonomous driving.
The unicorns’ shortlist was released at the Inno Bay 2021 program, organized by the Foundation and China Global Television Network in November 2021. The event gathered policymakers, entrepreneurs, and technology experts to discuss the further development of innovation and technology in the Greater Bay Area. Prominent speakers included Mrs. Carrie LAM, Chief Executive of the HKSAR Government, and Mr. LEUNG Chun-Ying, Vice-Chairman of the National Committee of the Chinese People’s Political Consultative Conference.
The Hong Kong X Foundation was established by Sequoia Capital China, a venture capital fund, in 2016 to foster entrepreneurial culture and support young entrepreneurs in Hong Kong.
Related link:
- News of Entrepreneurship Center (Dec 21, 2021): HK Unicorns 2021
- CGTN news (Nov 23, 2021): ‘InnoBay 2021’ special program focuses on Greater Bay Area’s innovation dynamism
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Start-up*
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HKUST Member(s)
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Position in Unicorn
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4Paradigm Platform-centric solutions for enterprise-class AI products |
DAI Wenyuan Alumnus Computer Science and Engineering (PhD)
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Founder and CEO
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Prof. YANG Qiang Faculty Computer Science and Engineering
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Co-founder
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CiDi Smart automotive driving for commercial vehicles and logistics modeling
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Prof. LI Zexiang Faculty Electronic and Computer Engineering
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Co-founder
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DJI Global consumer drones and aerial imaging technology
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Frank WANG Tao Alumnus Electronic and Computer Engineering (MPhil & BEng)
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Founder, CEO, and CTO
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Googol Technology Innovative motion controls for manufacturing automation
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Prof. LI Zexiang Faculty Electronic and Computer Engineering
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Co-founder and Chairman
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SmartMore Computer vision technology for intelligent manufacturing and video-enhancement services
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JIA Jiaya Alumnus Computer Science and Engineering (PhD)
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Founder and Chairman
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SmartSens Technology High-performance CMOS image sensor chip design
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XU Chen Alumnus Electronic and Computer Engineering (PhD & MPhil)
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Founder and CEO
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* The other companies on the Unicorns HK 2021 shortlist were: AfterShip, Airwallex, EcoFlow, Geek+, GeneHarbor, GOGOX, Hai Robotics, Insilico Medicine, KLOOK, Lalamove, SenseTime, and WeLab Bank.
This story was originally published in the SENG In Focus magazine (Spring 2022 edition, issue 34, P.8).