The Hong Kong University of Science and Technology (HKUST), Hong Kong Investment Corporation Limited (HKIC), and Gobi Partners have launched a new fund focused on early-stage start-ups incubated at the university.
The Gobi-Redbird Innovation Fund (Gobi-RIF) is intended to support university-developed technologies in reaching international markets, linking academic research with industry applications.
As the second fund under the Redbird Innovation Fund (RIF) framework, Gobi-RIF targets four sectors: biotechnology, Industry 4.0, AI and robotics, and fintech.
The fund combines HKUST’s research capabilities with Gobi Partners’ experience in venture capital across 16 locations in Asia.
The initiative is backed by HKIC under its “Patient Capital Strategic Fund”, announced in May 2025.
HKIC, wholly owned by the HKSAR Government, seeks both financial return and contributions to Hong Kong’s long-term economic competitiveness.
The Gobi-RIF Fund has already identified ventures including Lymow, a developer of robotic lawn mowers for the North American market; Atom Semiconductor, a fabless design house specialising in analogue signal-chain integrated chips; and Stellerus Technology, a provider of space-grade satellite solutions using advanced AI meteorological technologies, all originating from HKUST.
Managed by Gobi Partners, the fund will use active investment strategies to support commercialisation in Hong Kong and the Greater Bay Area.
Edith Shih, HKUST Council Vice-Chairperson and RIF Chairperson, said:
“By harnessing our academic excellence and strategic funding mechanisms, we aim to advance global collaboration and drive transformative innovations that serve both local and international communities, solidifying Hong Kong’s role on the global stage.”
Thomas G. Tsao, Co-founder and Chairperson of Gobi, said:
“The trio of Hong Kong, Shenzhen, and Guangzhou were recently named as the world’s top innovation hub by the World Intellectual Property Organization (WIPO). Key to that was the number of venture capital deals, which means ideas are able to go from research projects to real-world products and services.”
Featured image credit: HKUST