Hong Kong finance chief launches CUHK's inaugural LEAP event, stresses research-to-market link
At CUHK's first LEAP event, Hong Kong's financial secretary highlighted the need to bridge research and commercial application, citing university breakthroughs in AI surgery and energy storage, and outlined government support for startups, including increased R&D spending and talent initiatives.
Hong Kong's Financial Secretary, Paul Chan, on Friday opened the Chinese University of Hong Kong's (CUHK) inaugural LEAP (科博薈) event, which merges the university's innovation and entrepreneurship days to showcase the full journey from laboratory research to market application.
Speaking at the event, Chan highlighted the importance of connecting frontier research with commercial use, noting that the theme of this year's event, 'Innovation to Impact', underscores the critical role of intellectual property protection and transformation. He cited CUHK's achievements, including the non-invasive prenatal test developed by Professor Dennis Lo and his team, an AI-powered surgical robot by Professors Au Kwok-wai and Chiu Wai-yan, and a sulphur-based flow battery by Professor Lu Yijun's team, which is being demonstrated at electric vehicle charging stations.
Chan noted that these examples share a common structure: scientists make breakthroughs, engineers and doctors turn them into reliable technologies, startups bring them to market, and investors and industry partners help realize the vision. He said this reflects Hong Kong's unique value in the country's innovation drive, particularly as the national 15th Five-Year Plan emphasizes building a modern industrial system and advancing high-level self-reliance in science and technology.
The Financial Secretary highlighted emerging fields such as brain-computer interfaces and embodied intelligence, where robots could enter factories, hospitals, and homes. He said Hong Kong, with its strong basic research and international connections, is well-positioned to connect research strengths with the Greater Bay Area's industrial capabilities and global innovation resources.
Chan outlined government efforts to support startups, including increasing local innovation activity spending to 3 per cent of GDP by around 2030, promoting the Hetao Shenzhen-Hong Kong science park, building a university town in the Northern Metropolis, guiding patient capital to support early-stage projects, and optimizing listing rules to facilitate fundraising.
He encouraged students to start with small problems and emphasized that AI can write reports but cannot replace human judgment. "Finding answers and understanding answers are two different things," he said, adding that the ability to ask the right questions is something no tool can replace.
