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HKPC and HP Launch Joint Technology Centre in Hong Kong on Advanced 3D Printing
HONG KONG, May 7, 2024 /PRNewswire/ — Hong Kong Productivity Council (HKPC) and HP signed a collaboration agreement (agreement) today to establish the HKPC-HP 3D Printing Technology Centre (Centre) in Hong Kong for application research development on additive manufacturing, also known as 3D printing. The Centre aims to become a pilot transformation base, applying advanced 3D printing technologies to empower various industries, sharpen their competitive edge, and foster the development of high-value strategic industrial chains. It will also accelerate Hong Kong’s pioneering effort in micro-factory and new industrialisation development, offering important references and inspiration worldwide in the pursuit of innovative and sustainable development.
The Centre will be located in the HKPC Building, being the first in Asia to be equipped with both HP’s research version of “Metal Jet” and “Multi Jet Fusion” industrial 3D printers. HP will bring advanced equipment and talent to support the operations of the Centre, and HKPC will contribute expertise in raw material development, process development, and smartification. Market research data estimate that the value of the 3D printing industry will reach US$186.4 billion by 2033, a significant increase from US$27.7 billion in 2023, indicating the immense market potential.
Clean, digitally powered 3D printing generates minimal waste and a minimal carbon footprint. This aligns with global goals of achieving green and sustainable development, while also promoting long-term economic growth through sustainable industries. At the same time, advanced 3D printing provides significant opportunities in strategic industries, such as healthtech, critical components, electronics, and more. In the future, the Centre, with its focus on customisation and precision, can be a game-changer in meeting the demand for hard-to-source parts, complex structures, patient-specific implants, and other tools. This will enable enterprises, especially small and medium enterprises (SMEs), to leverage advanced 3D printing technology and produce high-value, customised goods that can respond to market-specific demands in real-time, offering new levels of flexibility and efficiency that conventional factories are unable to meet.
In the ceremony, Professor Dong SUN, JP, Secretary for Innovation, Technology and Industry, HKSAR Government, said, “3D printing enables the development of more micro-factories in Hong Kong. Compared to the traditional one, micro-factories require less land and materials, generate higher efficiency but less waste. This best suits Hong Kong’s condition, where land resources are limited and labour costs are relatively high. The establishment of this 3D printing technology centre is undoubtedly a good answer to show how we make use of state-of-the-art technology to promote advanced manufacturing and new industrialisation in Hong Kong. I am confident that Hong Kong’s manufacturing industry will reach new heights, and ‘Made in Hong Kong‘ will continue to be a reputable and brilliant international brand. I look forward to more representative technology companies from all around the globe, such as HP to team up with our I&T quangoes, such as HKPC, bringing talents, technologies and machinery to Hong Kong to redefine Hong Kong’s manufacturing industry and drive high-quality economic growth.”
Hon Sunny TAN, Chairman of HKPC, said, “We’re very pleased to form this research collaboration with HP, underscoring the confidence that global technology firms have in Hong Kong’s strengths in innovation. As an international innovation and technology centre, Hong Kong can be a paragon of the micro-factory city of the future that provides Hong Kong’s answer to develop new productive forces and set a fine example in Asia and across the globe to pursue innovation-driven, sustainable development. Hong Kong’s unique conditions make it particularly suitable for the development of micro-factories. The vibrant ecosystem in Hong Kong, combined with the robust supply chains in the Guangdong-Hong Kong-Macao Greater Bay Area, will provide an excellent pilot transformation base for the development of micro-factories, with significant implications for economies in Asia and worldwide.”
Mr Ramon PASTOR, Global Head of 3D Metals at HP Personalisation & 3D Printing, said, “It’s truly exciting to witness the launch of this collaborative effort between HKPC and HP, which aligns perfectly with our vision of leveraging Additive Manufacturing to drive industrialisation. This initiative not only showcases our dedication to technological advancement but also our shared vision for propelling industry innovation forward. HP believes in the immense potential of Hong Kong’s technology sector. We are also glad to bring in Pro-Technic Machinery Ltd. (Pro-Technic) to provide local support for our collaboration with HKPC.”
The Centre is planned to open in September, serving as a networking hub to promote closer collaboration among academia, research institutions and industries, empowering diverse sectors to grasp market trends. In addition to application development, the Centre will also provide consultancy and training services, driving advancements and propelling the 3D printing industry, as well as other industries utilising 3D printing technologies, forward.
About Hong Kong Productivity Council
The Hong Kong Productivity Council (HKPC) is a multi-disciplinary organisation established by statute in 1967, to promote productivity excellence through relentless drive of world-class advanced technologies and innovative service offerings to support Hong Kong enterprises. Being a key enabler of Industry 4.0 and Enterprise 4.0, HKPC strives to facilitate new industrialisation in Hong Kong, as well as bolstering Hong Kong to be an international innovation and technology centre and a smart city. The Council offers comprehensive innovative solutions for Hong Kong industries and enterprises, enabling them to achieve resources and productivity utilisation, effectiveness and cost reduction, and enhance competitiveness in both local and overseas marketplace. The Council partners and collaborates with local industries and enterprises and world-class R&D institutes to develop applied technology solutions for value creation. It also benefits a variety of sectors through product innovation, technology transfer, and commercialisation, bringing enormous business opportunities ahead. HKPC’s world-class R&D achievements have been widely recognised over the years, winning an array of local and overseas accolades.
In addition, HKPC offers SMEs and startups immediate and timely assistance in coping with the ever-changing business environment, and strengthens talent nurturing and Hong Kong’s competitiveness with FutureSkills training for enterprises and academia to enhance digital capabilities and TechEd competencies.
For more information, please visit HKPC’s website: www.hkpc.org/en.
About HP
HP Inc. (NYSE: HPQ) is a global technology leader and creator of solutions that enable people to bring their ideas to life and connect to the things that matter most. Operating in more than 170 countries, HP delivers a wide range of innovative and sustainable devices, services and subscriptions for personal computing, printing, 3D printing, hybrid work, gaming, and more. For more information, please visit: http://www.hp.com.
View original content:https://www.prnewswire.co.uk/news-releases/hkpc-and-hp-launch-joint-technology-centre-in-hong-kong-on-advanced-3d-printing-302138081.html
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eWTP Arabia Capital’s Technology Fund I Recognized as Top Performing VC Fund in the Preqin League Tables
RIYADH, Saudi Arabia, May 19, 2024 /PRNewswire/ — eWTP Arabia Capital Technology Fund I (“Techology Fund I”), managed by eWTP Arabia Capital (“eWTPA”), one of the leading private equity firms in the Middle East, was listed in the Preqin League Tables as the the fifth top-performing VC funds in the US$250 Million to US$499 Million category by net Internal Rate of Return (IRR) for vintages between 2015-2020.
“We’re delighted by the recognition of our Technology Fund I as a top-performing VC fund in our sector,” expressed Jessica Wong, Founder and Managing Partner of eWTPA. “This milestone underscores the commitment of our team and the robustness of our investment strategy. It also underscores the significant growth potential of the Middle East and North Africa market, particularly in Saudi Arabia, warranting attention. As a pivotal driver of technological advancement in the region, we’re steadfast in our mission to empower entrepreneurs and deliver value to our investors.”
“Being recognized by Preqin validates our hard work and dedication to supporting and actively contributing towards building the Saudi digital ecosystem,” said Jerry Li, Founder and Managing Partner of eWTPA. “As eWTPA continues to grow and expand its investment portfolio, it remains committed to fostering innovation and driving positive change in Saudi, the GCC and the global emerging markets ecosystem.”
eWTPA has demonstrated exceptional performance, solidifying its position among industry leaders. This recognition underscores eWTPA’s commitment to identifying high-potential market opportunities and generating returns for its investors.
The Preqin League Tables are regarded as a comprehensive and authoritative ranking system for private equity and venture capital performance. Preqin, a leading data provider in the alternative assets industry, compiles these league tables based on various performance metrics, including net Internal Rate of Return (IRR) and other key indicators.
eWTPA’s success reflects its strategic approach to investing high-growth sectors in the MENA region. The firm’s portfolio includes a diverse range of companies poised to make a significant impact on their respective industries.
Acting as a bridge between Asia and the Middle East, eWTPA’s Technology Fund I has achieved significant success since its inception in 2019. The Fund has invested in over 18 companies, several of which have successfully established themselves in KSA, like J&T Express, Raha, Sahm and COFE.
About eWTPA:
Founded in 2019, eWTP Arabia Capital is an investment firm based in Saudi Arabia and China. Backed by marquee regional and international Sovereign Wealth Funds, Institutional investors, and family offices, eWTPA helps create robust local digital ecosystems in the MENA region by partnering with market-leading international businesses and providing a gateway for these companies to establish a strong and sustainable presence in the region. To date, eWTPA has invested in over 18 companies, 13 of which have already established themselves successfully in KSA.
Media contact:
Haile Liao
+966 0530868568
[email protected]
Photo – https://mma.prnewswire.com/media/2416426/eWTP_Preqin.jpg
View original content:https://www.prnewswire.co.uk/news-releases/ewtp-arabia-capitals-technology-fund-i-recognized-as-top-performing-vc-fund-in-the-preqin-league-tables-302149554.html
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