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Eric Ng

The Applied Science and Technology Research Institute (Astri) has appointed a new chief executive who will help industry convert scientific findings into commercially viable products.

Simon Wong Siu-weng has assumed the post in Hong Kong after 13 years as an electrical engineering professor at Stanford University in the United States.

Speaking after the Hong Kong Electronic Industries Association's annual general meeting yesterday, Mr Wong said Astri had been granted a HK$90 million operating budget from the Government this year.

The annual budget was expected to grow to HK$240 million in about three years. In addition, the Government had allocated HK$3 billion to fund research projects conducted by the institute.

Key areas for research include information, wireless and optical technology, biotechnology and Chinese medicine, as well as semiconductor design and Internet applications.

He said Astri planned to hire up to 60 staff in the first year of operation.

It would embark on a recruitment drive, mainly in the US, for workers with knowledge of the Hong Kong and mainland markets.

'The global technology industry downturn has given us an excellent opportunity to attract top-notch people to Hong Kong,' he said.

The institute provides research and development to help industry turn innovations into commercial products by licensing new technologies to businesses.

The Institute of Chinese Medicine (ICM) was incorporated last May as a subsidiary of Astri and was partly funded by a HK$500 million grant from the Hong Kong Jockey Club.

Chaired by retailer Yu Kwok-chun, chairman of Yue Hwa Chinese Products Emporium, ICM aims to help Hong Kong develop as a centre for health foods and pharmaceuticals based on Chinese medicines.

Mr Wong said Astri was looking for a temporary office, which would eventually be moved into the phase two development area of the Hong Kong Science Park in Pak Shek Kok near Tai Po in 2004 or 2005.



Science chief to push work towards commercial viability