Vancouver-based Chrysalix Energy Venture Capital has partnered with the Hong Kong Science and Technology Parks Corporation (HKSTP), the largest technology incubator in Hong Kong, with the aim of connecting SMEs with global venture capital funds.
The Hong Kong Science Park Venture Capital Partnership Program is a platform run by the HKSTP.
The aim of the partnership with Chrysalix is to create an Asia-Pacific gateway focused on developing new energy innovation and cleantech.
Hong Kong has a booming cleantech sector, according to Chrysalix President and CEO Wal van Lierop.
“The opportunities for creating business advantages through innovation are accelerating exponentially. In my recent travels to Asia, I am personally totally intrigued by the eagerness of many large companies and entrepreneurs there to build the cleaner future we all aspire while at the same time developing new industries and stronger economies,” said van Lierop. “We are delighted to announce this new partnership with the HKSTP and look forward to working together to help identify and commercialize much needed breakthrough innovations for the new energy economy.”
There are over 500 R&D companies stationed in the Hong Kong Science Park. HKSTP’s job is to find an appropriate fit between research ideas that are ready to be capitalized and prospective venture capitalists willing to fund those ideas.
“Bridging technology entrepreneurs in the Science Park with international investors is one of our prime missions,” said HKSTP Chief Executive Officer Allen Ma. “Through our unique capital-raising platform, local technology companies gain access to domain knowledge and guidance, which are all crucial during the vulnerable early stage of their business. With Chrysalix joining our incubation ecosystem, we believe that more global investors will divert their focus to Hong Kong’s innovation and technology ecosystem.”
To date the HKSTP’s Venture Capital Partnership Program has connected 30 venture capital partners, amounting to over $142 million US in investments, over 172 successful match-ups between investors and entrepreneurs.
Founded in Vancouver in 2001 and backed by more than 20 industrial and financial investors, Chrysalix has been named the most active venture capital player in the sustainable energy space by Bloomberg New Energy Finance.