HKUST Annual Report 2024-2025

33 L A B T O M A R K E T KEEPING BUSINESS AT FOREFRONT OF TECHNOLOGY TRANSFORMATION HKUST deepened its engagement with the business community and government to share financial and technological expertise amid rapid economic shifts. The signing of a Memorandum of Understanding (MoU) with the Hong Kong Monetary Authority will strengthen collaboration in applied cybersecurity research for the financial sector, while separate MoUs with EY and Taiping Reinsurance Co. Ltd will drive tax tech and address challenges in the insurance sector. In Fall 2024, the University launched the InvestLM Generative AI Platform to support small and medium-sized financial enterprises in harnessing GenAI technology. Another significant development is HKUST’s participation in the Government of the HKSAR’s launch of regulatory sandbox pilot projects, designed to spur the low-altitude economy. WIDENING COLLABORATION NATIONALLY TO FUEL OPPORTUNITIES In addition to the HKUST(GZ) campus, HKUST has long-established research bases in Shenzhen, Nansha, and Foshan, advancing our vision to serve as an innovation engine for the Greater Bay Area. To further this contribution, the HKUST Council and the Nanhai District Government agreed to upgrade and rename the HKUST LED-FPD Technology R&D Center in Foshan to the HKUST Foshan Research Institute. This change expands its operational scope and elevates cooperation with the Foshan area. In January 2025, the HKUST Shanghai Center opened in the Shanghai AI Tower. Established in collaboration with the Xuhui District Government and Caohejing Hi-Tech Park Development Corporation, this marks our first industry-academia-research base in the Yangtze River Delta. Leveraging HKUST’s strengths in chips, AI, and biomedicine, the Center will collaborate with universities and enterprises in Shanghai and the wider region to drive innovation and commercialization.