Hong Kong to sign deal with tech unicorn to invest in talent training, R&D: Paul Chan
- Finance chief stops short of naming unicorn, as AI firm SmartMore sends out invites for signing event with government-owned investment agency
A Hong Kong investment agency will sign a strategic deal with a local tech unicorn to channel funds into talent training, and research and development to boost digitalisation efforts, the city’s finance chief has said.
The Post has learned it will be the first such deal between the city’s investment operation and a local tech enterprise.
SmartMore, an artificial intelligence (AI) and smart manufacturing firm based at the Hong Kong Science Park, sent out press invitations for a signing event on Wednesday with the HKIC.
Chan said in the blog: “After research and careful consideration, the HKIC will on Wednesday sign a strategic cooperation agreement with a Hong Kong unicorn, which means it has a market valuation of more than US$1 billion, a technology enterprise that specialises in industrial AI large-scale models and smart manufacturing.
“The agreement will cover the expansion of research and development investment and training of talent, as well as the promotion of the use of AI large-scale models in the Greater Bay Area, so as to speed up the digital transformation in the region.”