City University of Hong Kong (CityU) is committed to promoting innovative, inspirational and interactive education and research. In the latest World University Rankings 2024, announced by Times Higher Education (THE), CityU is ranked among the top 10% of universities worldwide for the fifth consecutive year. This year, CityU rose from 99th to 82nd in the global ranking. It is ranked No.1 in the “Industry” and No. 2 in “International Outlook” categories, top among local universities, and improved in the “Research Quality” category. CityU believes its rise in the rankings is related to capital investment and income driven by CityU’s flagship innovation and entrepreneurship programme, “HK Tech 300”, as well as the deployment of new ranking metrics.

In the just-announced THE World University Rankings 2024, more than 1,900 universities from 108 countries or regions were included, a record high. CityU has been ranked among the top 10% of universities worldwide for five years in a row, and has risen to 82nd in the global rankings, climbing 17th places on the list compared with last year. Under the five major pillars of the new “THE Rankings Methodology 3.0”, CityU improved in various metrics. It is ranked No.1 in the “industry” category, together with 27 other top universities in the world, which is believed to be related to the achievements of CityU’s HK Tech 300 programme.

“CityU will continue to promote innovative, inspirational and interactive education and research, leading CityU teachers and students to embrace global development trends and become true global citizens and world class researchers, contributing to society in Hong Kong, the country and the world,” said Professor Freddy Boey Yin Chiang, CityU President.

HK Tech 300 drives industry investment
CityU students inject new impetus into the start-up ecosystem

With a total allocation of HK$600 million, HK Tech 300 is a large-scale flagship innovation and entrepreneurship programme organised by CityU for aspiring entrepreneurs among CityU students, alumni, research staff and others to launch start-ups and ignite their entrepreneurship journey. It is the largest university-based entrepreneurship programme in Asia, given its scale and substantial funding. To date, over 130 start-up companies have been awarded up to HK$1 million in angel fund investment each and over 610 start-up teams have obtained HK$100,000 each in seed funding. The programme has received staunch support from over 90 strategic partners and supporting organisations, including the Innovation and Technology Commission of the HKSAR Government, InvestHK, four major Chambers of Commerce, the industrial and business communities, and the Innovation & Technology (I&T) industry. In addition, over 150 seasoned industrialists and entrepreneurs act as mentors to support the development of start-ups under the programme.

With the support of HK Tech 300, many start-ups founded by CityU students and alumni have been incubated to be influential enterprises that contribute to Hong Kong society and have received support from various external investors (please see the table below for details).

i2Cool Limited, a start-up established by Dr Martin Zhu, a PhD graduate from the School of Energy and Environment, received support from the HK Tech 300 Seed Fund and Angel Fund and developed a patented, passive radiative cooling paint. The technology offers cooling capability and energy-saving potential for buildings and can help reduce carbon emissions. It has been adopted in different types of buildings. In collaboration with NGOs, it has been extended to school buildings and subdivided flats, improving the environment for underprivileged groups in society. Within the past year or so, i2Cool has received about HK$30 million in external investment and is undergoing Pre-A+ financing. It also clinched awards in various I&T competitions in Hong Kong, the mainland and the Middle East, obtaining funding and business development opportunities.

Two biotech start-ups incubated by CityU, which are using research results developed at CityU, were selected in the “Forbes Asia 100 to Watch 2023”. This is an annual list published by Forbes Asia highlighting small companies and start-ups on the rise in the Asia Pacific region that are targeting underserved markets with new technologies.

Cellomics, one of the selected start-ups, was established by a CityU research team in 2017. It developed a ground-breaking liquid biopsy technology for cancer screening, precision diagnosis and disease monitoring. Cellomics currently offers a series of NMPA-approved and CE-marked products used in over 40 hospitals in mainland China. It received funding through the CityU Technology Start-up Support Scheme for Universities (TSSSU) and the CityU Angel Fund, and received investment from well-known listed companies and a family office. It recently received equity investment from the Taiping Hong Kong Insurance Innovation and Technology Venture Fund and established a strategic partnership with Taiping General Insurance to jointly develop health services products.

Jotbody, another selected start-up, was co-founded by Professor Shi Jiahai and his student Dr Wei Likun of the Department of Biomedical Sciences at CityU. Jotbody received seed funding and angel fund investment from HK Tech 300. It specialises in developing single-domain antibodies to diagnose and treat diseases like cancer and developed a unique platform technology for preparing high-affinity nanobodies, using the immunisation of a small shark species commonly found in Hong Kong.

“CityU actively promotes innovation and technology development through initiatives like HK Tech 300, nurturing more young start-ups and helping Hong Kong develop into an international innovation and technology hub with global influence,” said President Boey.