Hong Kong, 16 December 2021 – New World Development Company Limited (“NWD” or the “Group”) announced today that Eureka Nova, a NWD company, will partner with Microsoft Hong Kong as a premier technology sponsor of the first cohort of the Greater Bay Area (“GBA” or the “Area”) Accelerator programme.
The Eureka Nova GBA Accelerator is a business integration programme targeted at startups looking to scale their business across the Area. This first cohort will focus on Robotics and AI with nine startups across six countries or regions. The selected startups will have the opportunity to pilot and commercialise their solutions, expand their network, and gain exposure in the Area.
As a problem statement driven business integration programme, the GBA Accelerator collected multiple pain points from New World’s residential, retail and construction business units. Increasing customer engagement within the Group’s properties as well as automating services in construction and property management were key problems this programme aimed to address. Providing a pilot location for startups to launch and iterate is invaluable for them to find their optimal product market fit. In addition to this launchpad, earlier stage startups are also given an intensive curriculum to prepare them for their go-to-market strategy in the GBA; individual mentors are allocated to these startups to challenge and provide feedback on their products and service model.
As the sole technology sponsor, Microsoft Hong Kong will support these startups to bring their innovations and solutions to life by enabling them to build, run and manage applications on Microsoft Azure, the company’s enterprise-grade cloud computing platform. The startups can utilize Azure’s wide range of products, such as Artificial Intelligence (AI), Internet of Things (IoT), Machine Learning, Mixed Reality (MR) and more.
Paul Sin, Director of Technology & Transformation at New World Development, said “New World Development is committed in the Greater Bay Area. We believe that the GBA will be Asia’s premier hub of innovation and creativity. Eureka Nova and Microsoft Hong Kong will get behind startups in the Area and give impetus to the Area’s technological development and commercialise.”
Startups will have the opportunity to work closely with NWD’s businesses and Microsoft Hong Kong in the Area to pilot and scale up their technology solutions. Microsoft Hong Kong will provide technical advisory to the startups, elevating the commercial values of their solutions to enterprise grade level. This includes supporting the startups to fulfil cybersecurity requirements and building internal infrastructure standards to ensure scalability. In addition to showcasing their technology in an emerging innovation hub, the startups will also learn and understand what business requirements are necessary to win over large B2B clients.
Breaking into a market as large as the GBA can be difficult and Eureka Nova will act as a bridge between these startups and the NWD businesses needed to help them succeed. They are also able to network with like-minded entrepreneurs and mentors to develop their go-to-market strategy.
One of Microsoft’s key focuses within the GBA is to foster the flow of technology talent and resources exchange by leveraging its extensive research and innovation capabilities to transform the Area into a global innovation and technology hub. The company aims to develop a holistic partner ecosystem in the Area and is committed to leverage its leading expertise in Artificial Intelligence (AI), Internet of Things (IoT), cloud computing and big data to accelerate the digital transformation of the GBA.
Cally Chan, General Manager, Microsoft Hong Kong and Macau, said, “Startups’ success is key to enable Hong Kong’s business community to achieve more together. For innovative companies seeking to go beyond Hong Kong, a robust, trusted and secure cloud infrastructure is essential. We are excited to be the technology sponsor of Eureka Nova’s first cohort of the GBA Accelerator programme, enabling innovators to bring their ambitions to life and continue grooming more talents in today’s digital economy.”
GBA Accelerator welcomes nine shortlisted start-ups from around the world
Eureka Nova, an open innovation platform powered by NWD, launched this September the inaugural cohort of the GBA Accelerator programme targeted at Robotics and AI startups looking to scale their business across the GBA. The programme attracted applications from around the world to develop solutions that solve real-world business problems for New World China Land, K11 MUSEA, 11 SKIES, Property Management, and Hip Seng. Nine have been selected for their AI and Robotics solutions – four from the Chinese Mainland, four from overseas, and one from Hong Kong. The nine start-ups will receive development support and training by Eureka Nova, while seizing the opportunity to work closely with NWD’s business units.
About New World Development
New World Development Company Limited (“the Group”, Hong Kong stock code: 00017), a premium brand infused with a unique personality defined by The Artisanal Movement, was founded in 1970 and publicly listed in Hong Kong in 1972. It is a constituent stock of the Hang Seng Index, with a total asset value of approximately HKD 627 billion as at 30 June 2021. Our core business areas include investment in property and property development, and investment in and/or operation of roads, commercial aircraft leasing, construction, insurance, hotels and other strategic businesses, boasting operations in Greater China, with a particular focus on the Greater Bay Area. The Group has an effective interest of approximately 61% in NWS Holdings Limited (Hong Kong stock code: 0659), approximately 75% in New World Department Store China Limited (Hong Kong stock code: 0825). New World China Land Limited is wholly owned by the Group.
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