MTR Corporation today (21 June 2022) signed a Memorandum of Understanding (“MoU”) with Hong Kong Cyberport Management Company Limited (“Cyberport”) to set up a two-year collaboration framework for joint investment in digital technology start-ups. The collaboration marks a major step that the MTR Corporation has taken to expedite the innovative technology development with the establishment of the alliance between the Corporation and the innovation and technology (I&T) sector. The collaboration aims to bring smarter services for customers through the strategic alliance with start-ups and contribute to the development of Hong Kong into a smart city.
MTR Lab under MTR Corporation and 'Cyberport Macro Fund' under Cyberport will select start-ups from Cyberport’s ecosystem that have potential and suit MTR’s rail and property business needs as investment parties in the following six areas, namely: (1) railway technology, (2) smart city, (3) financial and data services, (4) Mobility-as-a-Service, (5) new mobility modes, and (6) new retail.
Witnessed by Dr Rex Auyeung, Chairman of MTR Corporation and Mr Simon Chan, Chairman of Cyberport, Dr Tony Lee, Operations Director of MTR Corporation and Mr Peter Yan, Chief Executive Officer of Cyberport signed the MoU.
'MTR Corporation actively adopts technology and digitalisation in all of its services under our corporate strategy `Transforming the Future’. As a home-grown enterprise, the Corporation fully supports the vision of Hong Kong’s technological development and endeavours towards developing Hong Kong into a smart city. We also envisage that it will offer more opportunities for the young generation to unleash their creativity and innovative power,' said Dr Rex Auyeung, Chairman of MTR Corporation.
'In Hong Kong’s journey to pursue innovation and technology development, Cyberport has played a pivotal role by providing one-stop support services for start-ups. The collaboration of MTR with Cyberport is aimed at supporting Hong Kong’s I&T companies and promoting the development of the I&T ecosystem, while leveraging on the technologies of the selected start-ups to reinforce MTR’s core businesses and bring our customers a better travelling and shopping experience,' said Dr Jacob Kam, CEO of MTR Corporation.
'Smart mobility plays an indispensable part as Hong Kong charges ahead in its smart city development, and railway networks are key to driving socio-economic growth. Cyberport, as Hong Kong’s digital technology flagship and key incubator of entrepreneurship, has endeavoured to nurture the innovative community with Smart Living and Smart Mobility solutions, enhancing the development of Hong Kong's railway services and smart facilities at residential properties and shopping malls along the railway lines. I am confident that this collaboration, in which Cyberport and MTR join hands to invest into Cyberport’s high-potential start-ups, will pave the way to new milestones for start-ups with groundbreaking ideas, steering Hong Kong towards a sustainable future with technology,” said Mr Simon Chan, Chairman of Cyberport.
