TusPark — The International Business Incubator

In conversation with Sam Wong, General Manager at TusPark

Tuspark, standing for Tsinghua University Science Park, is an international business incubator. With over 120 incubation spaces covering more than 20 cities in China and overseas, Tuspark builds a global and industrial network for technology innovators, including partners, professional institutions, investors and industrial chains, bridging the gap between innovation and commercialization.

TusPark is currently the largest single university science park in the world, with a total area of 770,000 square meters, and more than 1500 enterprises having been settled in the park.

Tuspark Hong Kong has a mission to facilitate the growth of the startup ecosystem and to cultivate technology entrepreneurial cultures in Hong Kong.

We sat down with Sam Wong, the General Manager at TusPark Hong Kong to discuss more about TusPark and TusStar, their incubation acceleration programme. Watch the interview below or read the transcript:

What is TusPark?

TusPark stands for TsingHua University Science Park, (owned by Tsinghua University). It is “a Science park that’s much more technology focused, more in different angle of incubation and acceleration.” — Sam Wong, General Manager, TusPark Hong Kong.

When did TusPark Hong Kong open?

In November 2018

What is TusStar?

TusStar is actually the brand name for the incubation acceleration program. The Star means that they are trying to dig out, explore and help startups to become stars in the incubation area and startup ecosystem over there. It is actually to help those startups to link up with talent, corporate opportunities and also investment opportunities to help them grow in the TusStar ecosystem.

One element of TusPark is called TusStar, could you tell us a little bit about what TusStar focuses on?

TusStar is our brand name for the incubation acceleration program. The Star means that we are trying to dig out, explore and help to startups become stars in the incubation area and startup ecosystem in the area.

It is actually to help those startups to link up with talent, corporates opportunities and also investment opportunities to help them grow in the TusStar ecosystem.

When a company joins the group in Hong Kong, does it have access to programmes in different cities?

Yes, we actually have a presence in many cities, with industry focused competitive edge in the specific country.

So coming to Hong Kong is not just for Hong Kong but opens up opportunities across China for Hong Kong people. Also not just China focused, but our presence is also in South East Asia, Europe, America, all those centres would welcome Hong Kong startups.

Right, so really providing market access in key regions and countries!

So again, talking a little bit about the ecosystem here in the GBA, what are the opportunities that you see from TusPark perspective of GBA and how are you involved?

Greater Bay Area is a new thing for China and also for Hong Kong. The opportunity over there is much more talent people in Shenzhen especially, It is industrial, there are many manufacturers there. Moreover, many patents are ready [around 50% of patents in China] and the innovation there is much more than the other Chinese cities.

The startups focused on a manufacturing angle can go to different cities to request for more space and to expand their businesses.

We talked about this, the GBA does not only attract international startups into this region but also all over China. One role for Hong Kong that you think Hong Kong and Hong Kong’s ecosystem play and contribute to that overall GBA concept.

Hong Kong is actually a more international city, it has involved many different international countries to come over and do their research and their business. Its actually an internationalised city and the research quality over here in Hong kong is in very top level of Indiegogo

We can have some in Greater Bay Area, that actually Hong Kong can serve as an input of those international angles and all those research that has been, many high quality research, they can have more technology transfer, more industry opportunity over there in GBA and then to do their expansion over there and business over there.

Tuspark is also an active investor, throughout the various stages, you want to tell us a little bit more about your amazing track record and also your focus areas?

Actually our investment fund has already under TusGroup umbrella around 75 investment funds, among those, around 22 are focused on seed and angel investment. I can say all those 22 investment funds, they will fund the project with around 1million to 10 million USD for early stage.

Each year we invest in around 60 companies, in a broad range of industries, we focus on robotic, AI , healthcare and also environmental business, energy, and all these technologies that are next generation technology that can create more innovation and more opportunities for China to grow.

Talking about innovation and co-innovation. One of the activities that proactively drive and very successfully is the collaboration co-innovation between the established corporates and startups.

Do you want to tell us a little bit more about programmes where startups collaboration with corporates ?

Yeah we actually we have a lot of programme there in China. And then we want those programmes to have an opportunity angle or a window that can help Hong Kong startup to go over.

We previously had some programmes with AWS, CIMC and Asia Development Bank, now coming is for BP Group, an oil gas company in the UK.

All those programmes are industry focused, they focus on different angles like cloud computing, for chips, semiconductor angle also for smart logistics and for IoT business.

Different industry focus angle would help those startups create opportunity to look more into the industry itself. How their technology or solution can suit the industry. And how they can create the business opportunity for them and create a profitable and sustainable business model.

Very amazing activity system that TusPark is contributing to the ecosystem that’s why we’re thrilled to more collaboration between WHub, AngelHub and TusPark.

What is your #StartupPassion? What keeps you going?

I am a later stage investment guy.

Throughout my investment career, I have done pre-IPO, IPO, M&A transactions. After all those years together with TusPark, actually created much more opportunity for me to look into the startup community very early stage technology investment, different ways of helping startups grow, to accelerate to different stages. This impressed me a lot. I’m very passionate to invest, get more involved and as a Hong Kong person that joined TusPark in Beijing, and observed the growth of China and the growth of the startup community in China from my experience of 7 years, I can see the startup ecosystem in China is growing very fast.

As a HongKonger, I want to help Hong Kong startup or all those startups located in Hong Kong to have more business opportunities and help using our resources over there in China to help them to get the business opportunity.

Briiliant to have your talent and energy for the ecosystem thank you so much for your time and insights!

Want to get in touch with Tuspark? Check out their website, or connect with Sam Wong on LinkedIn!

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