HKSTP confident of Hong Kong innovation and technology ecosystem’s potential as home-grown SenseTime joins “unicorn” league
(Hong Kong, August 10, 2017) Hong Kong Science and Technology Parks Corporation (HKSTP) is very proud that a home-grown Hong Kong company that has made great strides in groundbreaking artificial intelligence technologies has become the very first "unicorn" in Hong Kong Science Park. SenseTime Group Ltd, which boasts market valuation exceeding HK$10 billion following the completion of its US$410 million B-round funding in July, underscores the potential of Hong Kong's innovation and technology ecosystem for tech companies to grow into internationally successful enterprises of significant market value.
SenseTime was jointly founded by Hong Kong bred academics including a group of researchers and students from research lab led by Prof. Xiaoou Tang, who is the Outstanding Fellow of the Faculty of Engineering of The Chinese University of Hong Kong (CUHK). Co-founder and founding CEO Dr. Xu Li, also received his Ph.D. degree from CUHK in 2010. They founded the company in Science Park in 2014 to leverage the diverse support services offered by HKSTP and the top-notch talent pool in the ecosystem to refine its artificial intelligence technologies that are now widely adopted by blue-chip companies in Hong Kong and China. Having its technologies certified in Hong Kong also helps to enhance global recognition and facilitate international propagation.
HKSTP Chief Executive Officer Albert Wong hails SenseTime's achievements as exemplary. "Hong Kong is blessed with a number of world-class universities nurturing top technology minds in the world. The open and multicultural environment of our ecosystem is drawing in rich talent, as they see the value of Science Park as an ideal base for spearheading cutting-edge work and gaining international recognition. The success of SenseTime's co-founders in turning their Science Park-based company into a unicorn is very encouraging. They inspire other self-starters in our technology ecosystem to aim high.”