HKUST Annual Report 2024-2025

32 HKUST ANNUAL REPORT 2024-25 INVESTING IN THE DEEPTECH FUTURE On the DeepTech front, the University’s HK$500 million Redbird Innovation Fund (RIF) announced its first partnership in March 2025. The RIF was launched in 2024 to create venture investment funds worth HK$2 billion in collaboration with experienced partners. The new Hong Kong Biotechnology Fund, managed by SIIC Capital, will support HKUST medical start-ups and innovation in life sciences. Plans also advanced for the HKUST InnoBay@Innovation Building incubator, which is designed to accelerate early-stage DeepTech start-ups by providing critical resources such as mentorship, funding, and infrastructure. Over 2024–25, we added 27 new DeepTech start-ups, achieving a record total of 143 active DeepTech companies that have utilized or are currently utilizing university technologies through licensing agreements. Invention Disclosures 324 523 I P Filed 109 New IP Licenses Executed HK$ 12.9M in IP Income