Alibaba-backed Hong Kong AI lab names first batch of start-ups for funding

A Hong Kong artificial intelligence lab backed by e-commerce giant Alibaba Group Holding and SenseTime, the world’s most valuable AI start-up, has named seven companies that will receive funding under its accelerator programme.

The Hong Kong AI and Data Laboratory announced in a ceremony on Thursday that it will provide US$100,000 in seed funding to each of the selected start-ups, who will also be given office space, access to AI resources from Alibaba and SenseTime, and a range of cloud computing services from Alibaba Cloud.

“These start-ups not only have innovative technologies and business ideas, but they also offer valuable solutions for different industries and scenarios,” Jeff Zhang, the chief technology officer of Alibaba, said at the ceremony.

Zhang said it was important to work on the application of AI technologies in different industries.

The lab was established in May by the Alibaba Hong Kong Entrepreneurs Fund and SenseTime, which became the city’s first unicorn – a start-up valued at more than US$1 billion – in July last year. The lab has partnered with the Hong Kong Science and Technology Parks Corporation (HKSTP) to launch the six-month accelerator programme to nurture more AI start-ups in the city.