Hong Kong Baptist University (HKBU) and the Hong Kong Applied Science and Technology Research Institute (ASTRI) signed a Memorandum of Understanding (MoU) on “Fostering University Cooperation in Technology Transfer” on 22 September to jointly create a new era of smart living and cross-disciplinary technological development. The extended cooperation covers the areas of smart traditional Chinese medicine (TCM) service system, pharmaceutical research and development (R&D), art tech, fintech, as well as interdisciplinary research and its application, so as to promote technology innovation and transfer.
Witnessed by Professor Alexander Wai, President and Vice-Chancellor of HKBU, and Ir Sunny Lee, Chairman of the ASTRI Board of Directors, the MoU was signed by Professor Terence Lau, Interim Chief Innovation Officer of HKBU, and Dr Denis Yip, Chief Executive Officer of ASTRI on behalf of both parties on the campus of HKBU. Under the agreement, HKBU and ASTRI will enhance collaborative research and promote the transfer and commercialisation of technology results, stipulate their respective intellectual property rights and ownership of R&D results. In addition, the partnership aims to reduce the R&D time, improve the utilisation of resources and accelerate the application of R&D results.
According to Professor Wai, the collaboration between HKBU and ASTRI provides ample opportunities for knowledge transfer of the University’s research excellence, and hope that both parties can continue to cooperate in different areas, such as art tech, smart traditional Chinese medicine and smart society.