HKUST Annual Report 2022-2023

6 HKUST-Affiliated Start-Ups Named Forbes Asia 100 to Watch 2022 List 91 DeepTech Start-Ups Utilizing Licensed HKUST Technologies 1,747 Active Start-Ups 9 Unicorns * as of June 2023 Including 11 Successful Exits (9 IPOs and 2 Acquisitions) 28 29 DimOrder Point Fit Technology Gense Technologies Magnum Research Atom Semiconductor Technologies Opharmic Technology Such achievement was made possible by the University’s efforts to support entrepreneurship on all fronts. In the year 2022-23, a total of 43 HKUST-related start-ups were recommended for funding under the HKSAR Government’s Technology Start-Up Support Scheme for Universities (TSSSU). They included both applications for an original version of the scheme which had been in place since 2014, and a newly enhanced measure that provides dollar-for-dollar matching funds to encourage technology start-ups to raise fund from the private sector alongside. The HKUST Entrepreneurship Fund (E-Fund) continued to foster emerging businesses as well as raise investor awareness. There are currently 34 Co-Investment Partners (20 in 2021-22) managing an investment pool of more than US$32 billion and investing approximately HK$25 million in E-Fund portfolio companies. Following E-Fund initial investment in December 2019, portfolio companies have successfully raised over HK$191.5 million in subsequent funding rounds. Bridging Industry and Breakthroughs Financial support aside, we also provided start-ups with the avenues to foster relationships with stakeholders and potential beneficiaries. The year 2022-23 saw a myriad of flagship HKUST events including the Industry Engagement Day series, attended by over one thousand industry players, potential investors, academics, government officials and entrepreneurs, and the HKUST Unicorn Day, which drew nearly 100 alumni- entrepreneurs back to their alma mater.