HKU and Companies Jointly Establish Over $1 Billion Venture Capital Fund, University Contributes Less Than 10 Per Cent

University of Hong Kong President Zhang Xiang said HKU earlier joined with industry companies to establish a venture capital fund of over $1 billion, with industry contributing more than 80 per cent, HKU contributing less than 10 per cent, and additional government investment. He believes that in developing the Northern Metropolis University Town, there is great room for cooperation between institutions and companies, but university research mostly focuses on the long term while industry companies want to solve specific problems, and both sides will also face challenges.