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HKSTP Aligns Strategy with Five-Year Plans, Secures Merck Partnership to Boost Innovation

The Hong Kong Science and Technology Parks Corporation (HKSTP) is intensifying its efforts to incorporate global expertise, exemplified by a partnership with Merck, as it aligns its strategy with the national 15th Five-Year Plan and Hong Kong’s first Five-Year Plan.

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According to the South China Morning Post, the Hong Kong Science and Technology Parks Corporation (HKSTP) is adopting a more proactive stance to incorporate worldwide capabilities as Hong Kong moves toward its first Five-Year Plan objective of increasing R&D spending to 3% of GDP. Under the direction of CEO Terry Wong, HKSTP is aligning its strategy with the national 15th Five-Year Plan and Hong Kong’s first Five-Year Plan to speed up the development of "new quality productive forces." The corporation is actively enhancing its ecosystem by proactively seeking out the specific global expertise and partners required, rather than waiting for companies to approach it.

A notable example of this is the partnership established with Merck on October 26. This agreement places a Merck Hong Kong Centre within the Hong Kong Science Park, providing local startups with immediate access to the global corporation's scientific products, expert consultation, and live demonstrations. Furthermore, both parties plan to jointly host technical training, clinical advisory sessions, and an annual Merck Innovation Day. Rogier Janssens, president of Merck China, stated that this represented a "first strategic move" aimed at identifying and supporting promising concepts at an early stage.

Wong indicated that establishing these connections early is beneficial, as startups can obtain technical and commercial feedback before dedicating several years to a development trajectory, while Merck can monitor emerging technologies while they remain adaptable. The South China Morning Post noted that Hong Kong provides a gateway within the Greater Bay Area for foreign companies and a familiar pathway to international regulatory acceptance and global distribution for mainland companies.

HKSTP's definition of success is stated to go beyond financial metrics. Wong commented that the focus is not solely on sales or achieving unicorn status, but rather on the impact of the product, which contributes to enhancing Hong Kong's influence and bolstering the nation's technological self-reliance.

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