While traditional industries still seek to unlock the vast potential of Artificial Intelligence (AI), Hong Kong’s startup community is well poised to rewrite playbooks and disrupt business operations with AI-driven solutions.
Hong Kong Science and Technology Parks Corporation (HKSTP), the largest innovation and technology ecosystem in Hong Kong, has led a delegation of 14 startups to the Techsauce Global Summit 2024, Southeast Asia’s premier tech event held in Thailand, fostering connections between Hong Kong-based startups and like-minded partners across Southeast Asia. The event welcomed over 18,000 visitors from 60 countries worldwide.
At Techsauce, Hong Kong startups received overwhelmingly response, with over 4,000 visitors from partners, potential investors, and key players in the industry visiting the Hong Kong Pavilion. Notable among them were HairCoSys, a multi-award-winning innovator in hair care technology powered by AI, and ATech Solution, showcasing their groundbreaking solution for remote work management.
Transforming Hair Care with AI
HairCoSys is a compelling tale of how AI can breathe new life into a traditional industry, transforming a legacy business for the modern era.
HairCoSys is advancing hair care through deep learning technology, offering unmatched precision in diagnosing hair and scalp conditions. Leveraging over 1 million high-quality images, HairCoSys’ AI models diagnose and personalize treatments for 20 distinct hair health issues, while also streamlining salon operations with proprietary hardware and online platforms.
“HairCoSys leverages cutting-edge AI technology to deliver precise hair and scalp assessments, while fostering connections between stakeholders – including salons, stylists, hair care centers, medical professionals, and retailers with tailored services that drive business growth. Through precise tracking of therapy progress, our partners provide personalized, effective hair care solutions that fuel their growth and differentiation. ” says Michael Wong, Founder and CEO of HairCoSys. “As a fledgling business, we were fortunate to receive valuable mentorship at HKSTP incubation programme that helped us chart our course.”
At Techsauce, HairCoSys’ booth was a massive draw. The company successfully forged valuable connections with potential partners seeking advanced hair care technologies, paving the way for a strategic partnership with a Thailand-based distributor. Through its participation in overseas events led by HKSTP, HairCoSys also established a business presence in Turkey, which has emerged as a global hub for hair transplantation services.
Solving Challenges of Remote Work
Another startup that made a splash at Techsauce is ATech Solution, which leverages AI to drive efficiency for remote work.
The COVID-19 pandemic has accelerated the shift to remote work. Even as the pandemic subsides, this trend shows no signs of slowing, with remote work now established as a catalyst to tap into a global talent pool. Despite the benefits of remote work, HR leaders face challenges in managing remote workforces. ATech Solution addresses this with Capacitor, an AI-powered solution designed to drive productivity.
Felix Cheung, the CEO of ATech Solution, explains that Capacitor provides valuable insight into remote teams’ time allocation through AI analysis and screen activity tracking. Companies have reported a significant 20% gain in efficiency after implementing Capacitor.
Cheung highlights that remote teams often face unique hurdles in managing projects and conducting performance evaluations. Capacitor tackles these challenges head-on by streamlining workflows, accelerating project completion, and equipping supervisors with the tools to write informed, data-driven reviews that consider an employee’s historical performance trajectory.
Cheung credits HKSTP’s incubation programme for establishing ATech’s relationships with local enterprises, paving the way for local market entry. At Techsauce, Capacitor drew interest from potential investors and partners, including an Indonesian system integrator who plans to use Capacitor to manage their remote workforce.
Nurturing Startups to Go Global
HKSTP’s Incubation Programme provides technology startups with a nurturing environment to develop their first solutions from early-stage technical builds to market exploration and commercialization.
Mr Derek Chim, Head of Incubation and Acceleration Programmes of HKSTP, led the delegation to the Summit and stated, “We are thrilled to participate in the Techsauce Global Summit for the first time, presenting Hong Kong’s dynamic innovations to make a significant impact in the Southeast Asian market. As the city’s largest innovation and technology ecosystem, HKSTP is dedicated to providing a comprehensive incubation programme infused with a ‘go global’ mindset – empowering startups from concept to commercialisation.”
