Invest Hong Kong (InvestHK) and the Institute of Innovation and Entrepreneurship, Zhejiang University (the Institute) signed a Memorandum of Understanding (MOU) today (June 25) in a hybrid format (online and offline), joining forces to support innovative Zhejiang enterprises in leveraging Hong Kong as a springboard for global expansion. This collaboration was initiated after the delegation led by the Chief Executive, Mr John Lee, visited Zhejiang in April, marking a significant step in driving the internationalisation of enterprises in both Zhejiang and Hong Kong.
As a key driver of the Mainland's innovation development, Zhejiang has demonstrated excellence in technological innovation. With its heritage and rapid development, Zhejiang University has become one of the Mainland's most comprehensive and largest universities, nurturing numerous scientists and entrepreneurs. Zhejiang University's alumni have founded or effectively control over 300 listed companies. Among Hangzhou's "Six Little Dragons" innovation and technology enterprises, DeepSeek, Yunshenchu Technology, and Manycore Tech were all established by Zhejiang University alumni, demonstrating the school's global influence in technological innovation. The Institute serves as a vital platform for the university to leverage its academic, talent, and technological strengths, uniting global alumni to actively drive the transformation and commercialisation of technological outcomes. Zhejiang University is an eligible Mainland institution under the Top Talent Pass Scheme, with over 4,000 graduates being approved to work in Hong Kong through the scheme.
The Director-General of Investment Promotion at InvestHK, Ms Alpha Lau, said, "Hong Kong and Zhejiang have always maintained close ties and are important partners in economic as well as innovation and technology sectors. Hong Kong is the largest source of foreign investment for Zhejiang and serves as a key platform for Zhejiang enterprises to explore overseas markets. As a vital bridge between the Mainland and international markets, Hong Kong is committed to providing comprehensive support to Mainland innovative enterprises. We are delighted to collaborate with the Institute. By combining our complementary strengths, we will support high-quality enterprises in the Institute to expand globally through Hong Kong, fostering new opportunities for innovation and co-operation."
The Dean of the Institute, Ms Wang Lingling, said, "Hong Kong's international platform and professional service ecosystem will provide crucial support for the innovative development of enterprises in our Institute. We look forward to this collaboration strengthening Zhejiang University's industrial ties with Hong Kong and help more outstanding enterprises to go global."
According to the MOU, InvestHK will provide comprehensive consultation services for enterprises in the Institute. These services include company registration and licensing, office location selection, talent recruitment and training, initial public offering and financing support, and government funding schemes. Both parties will establish a comprehensive collaboration mechanism, combining Hong Kong's unique advantages as an international financial centre with the Institute's strengths in innovation and entrepreneurship. This will help enterprises swiftly access global resources, turn research outcomes into market-ready solutions and seize early opportunities in international markets.
Looking ahead, InvestHK and the Institute will continue to deepen their co-operation, promoting synergistic development in innovation and entrepreneurship, business incubation, and international expansion between Zhejiang and Hong Kong. Together, they aim to support enterprises in "going global" and build a bridge for innovation and technology resource connectivity between the Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Delta, jointly creating a globally influential hub for enterprise internationalisation.
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