Strengthening Hong Kong's Position as an International Innovation and Technology Hub

HONG KONG SAR - Media OutReach Newswire - 5 March 2025 - Ricoh Hong Kong Limited, a global leader in innovative imaging technology, IT services and digital solutions, has been transforming the way people work and communicate.

As we enter the era of artificial intelligence (AI), Ricoh as an industry pioneer is proud to announce the launch of the Ricoh InnoAI Program. In collaboration with the Ricoh Software Research Center Beijing (SRCB), Ricoh will establish a dedicated International AI Research Center, the Ricoh InnoAI Center, at Cyberport, Hong Kong's flagship digital technology and AI hub. The establishment has been created with the support of Dr. Dong Bin, who has been appointed as the Chief Scientist to provide technical support to local enterprises. The Ricoh InnoAI Center at Cyberport offers an extraordinary future-ready working environment and impactful meeting facilities designed to foster close collaboration for participating AI startups.

The Ricoh InnoAI Program will be initiated with funding of over HKD 50 million. It aims to provide participating companies with advanced AI technology resources, commercialization opportunities, business development support, and potential funding from the Ricoh Innovation Fund. This initiative will accelerate the commercialization and growth of AI startups, helping various industries in Hong Kong to expand internationally and solidify Hong Kong's status as a global innovation and technology hub.

To mark this significant occasion, Ricoh Hong Kong held a launch ceremony for the Ricoh InnoAI Program at Cyberport today. The event was honorably attended by distinguished guests, including Ms. Cheong Man Lei, Lillian, JP, Under Secretary for Innovation, Technology and Industry; Mr. Charles Ng, the Associate Director-General of Invest Hong Kong (InvestHK); Mr. Komatsu Yojin, Director, Economic Division, Consulate-General of Japan in Hong Kong; Mr. Simon Chan Sai-ming, BBS, JP, Chairman of Hong Kong Cyberport Management Company Limited; Mr. Howard Cheng Hay-wing, Chief Operating Officer of Hong Kong Cyberport Management Company Limited; Ms. Georgina Chu, Chief Corporate Development Officer of Hong Kong Cyberport Management Company Limited; Mr. Kei Uesugi, Managing Director of Ricoh Asia Pacific; Mr. Aaron Yim, Chairman, Ricoh Hong Kong; Mr. Ricky Chong, Managing Director, Ricoh Hong Kong; Mr. Go Fujimoto, President, Ricoh Software Research Center Beijing; and Mr. Dong Bin, Vice President, Ricoh Software Research Center Beijing. During the event, guests shared their visions for future technological development, emphasizing the importance of collaboration and innovation, and collectively witnessed this new milestone for Hong Kong's AI-oriented future.

Ms. Cheong Man Lei, Lillian, JP, Under Secretary for Innovation, Technology and Industry, stated in her speech that in the rolling tide of AI, Hong Kong has not been absent. On the contrary, Hong Kong has prepared itself early and is also actively aligning with the national "AI+" initiative, driving AI development through comprehensive policies. These include the upcoming HK$3 billion Frontier Technology Research Support Scheme to further strengthen HK's upstream research capability, the Cyberport AI Supercomputing Centre that will provide high-performance computing power of 3 000 petaFLOPS to support impactful R&D projects on AI, a HK$3 billion AI Subsidy Scheme to support academia and industries in utilizing Cyberport's computing power for AI innovation, and the recently announced HK$1 billion allocation in the Budget to establish the Hong Kong AI Research and Development Institute to spearhead AI development and industry applications across government services, law, finance, healthcare, education, etc, in HK, positioning AI as a pivotal emerging industry for Hong Kong. Hong Kong has gradually built a thriving AI ecosystem. She is confident that Hong Kong will emerge as one of the leading hub in AI technology. In the near future, AI will become a cornerstone industry for Hong Kong, also spurring new "AI+" pillar industries that contribute to our new real economy. Hong Kong will also serve as a nexus for international collaboration in the AI sector.

As outlined in the "14^th Five-Year Plan," Hong Kong is positioned as an international innovation and technology hub. Hong Kong also plays a crucial role in "bringing in and going global," making it an ideal base for Ricoh Asia Pacific to gather talent from the Greater Bay Area and around the world.

Mr. Kei Uesugi, Managing Director of Ricoh Asia Pacific, said: "Hong Kong is a culturally diverse and vibrant city with a mature business environment and a wealth of talent. We believe that the launch of the Ricoh InnoAI Program, coupled with the technical support from the Ricoh Software Research Center Beijing (SRCB), will drive technological innovation and economic growth across various industries in Hong Kong. Ricoh Asia Pacific will actively collaborate with local tech startups, leveraging our expertise and resources to inspire more creativity and cooperation, promote the application of AI technology, and contribute to future development."

Mr. Simon Chan Sai-ming, BBS, JP, Chairman of Hong Kong Cyberport Management Company Limited, said: "As Hong Kong's AI hub and accelerator, Cyberport is centered around its AI Supercomputing Centre and AI Lab, forming a comprehensive AI ecosystem that brings together leading industry players from around the world and over 350 start-ups focused on AI and data science R&D. By leveraging their diverse capabilities in computing power development, large-scale model construction, and extensive industry applications, Cyberport drives AI innovation and empowers digital transformation and intelligent upgrades across various industries. Ricoh Hong Kong has launched the Ricoh InnoAI Program and established the Ricoh InnoAI Center at Cyberport, further enriching Cyberport's thriving AI ecosystem, enhancing the technical R&D and business development advantages of outstanding Cyberport companies, and laying the groundwork for expanding into both local and international markets. Cyberport looks forward to collaborating with Ricoh Hong Kong to providing comprehensive support for the development of AI enterprises, accelerating R&D and applications across different segments of the industry ecosystem chain, promoting AI industrialisation and supporting Hong Kong's development as an international hub for AI and innovation technologies."

Ricoh Asia Pacific Establishes International AI Research Center at Cyberport to Provide Resources for Local Enterprises

As a global leader in technology, Ricoh Asia Pacific has always focused on providing intelligent digital solutions to maximize corporate profitability and enhance operational efficiency. Mr. Ricky Chong, Managing Director of Ricoh Hong Kong Limited, stated: " Ricoh Hong Kong aims to leverage its extensive customer resources accumulated over the years in Hong Kong through the "Ricoh InnoAI" initiative, bringing the value of AI applications to various local businesses and achieving the goal of "AI to Business (AI2B)." Ricoh Hong Kong has signed a cooperation agreement with Hong Kong Cyberport to establish the "Ricoh InnoAI" center at Cyberport in the second quarter of 2025, serving as the AI research and development hub for the Asia-Pacific region. Together with Hong Kong Cyberport, Ricoh Software Research Center Beijing (SRCB), and AI partners under the Ricoh InnoAI initiative, we will jointly build Ricoh's unique AI2B ecosystem. Currently, Ricoh Hong Kong has collaborated with over 10 technology companies to develop a range of industry-specific AI intelligent agents, including AI knowledge assistants, sales and marketing assistants, and customer service assistants. We look forward to deepening our collaboration with Hong Kong's innovation and technology sector through this initiative, propelling Hong Kong's AI innovation capabilities into Ricoh's Asia-Pacific region and nearly 200 markets worldwide, and working hand in hand with local innovation forces to 'set sail for global expansion.'"

Ricoh offers a diverse product portfolio, including the Ricoh InnoAI Hub integrated with its self-developed enterprise large-language-model (LLM) (which can be connected to other large-language-models such as DeepSeek as per customers ' needs), intelligent multifunctional printer solutions with innovative imaging technology, IT services, and advanced digital solutions. These will help local enterprises make significant progress in the application of AI technology.

For the newly launched Ricoh InnoAI Program, Ricoh will invest substantial resources to provide comprehensive technical support and resources to participating companies, assisting them in developing innovative technologies. This includes:

• Initial Funding: A budget of HKD 50 million for the first year, primarily used for setting up offices at Cyberport, staffing, and infrastructure. The initial phase will involve hiring 20 developers to support the project.
• Technical Support: Leveraging the latest AI technologies developed by the Ricoh Software Research Center Beijing, providing advanced AI tools and technical support, including self-developed large language models (LLMs), to help participating companies develop safer and more cost-effective AI innovations.
• Sales Team and Marketing Resources: Providing sales and marketing resources to assist partners in market promotion, brand building, and business expansion, while sharing industry best practices. Ricoh's sales team of over 100 members will actively promote products and services to approximately 30,000 corporate clients.
• Space and GPU Support: Establishing a dedicated Ricoh InnoAI Center at Cyberport, offering innovative working environments and meeting facilities for participating companies. Additionally, GPU resources will be procured from Cyberport to support computational needs for innovation and technical development.
• Business Development Support: Ricoh Hong Kong will provide resource assistance to each partner participating in the Ricoh InnoAI Program. In addition to office space and infrastructure at the Ricoh InnoAI Center in Cyberport, Ricoh will offer mentorship, strategic partnerships, professional guidance, and marketing and sales resources to facilitate business growth.

The Ricoh InnoAI Program is Divided into Four Stages, Selecting Approximately 50 Outstanding Partners Annually

Through a series of resource investments, Ricoh Hong Kong aims to provide free AI development resources to enterprises by leveraging its cutting-edge enterprise AI-powered Agents, the Ricoh InnoAI Hub, and its self-developed enterprise large language models. Ricoh will also act as a "super-connector," utilizing its global network and market expertise to accelerate market expansion and commercialization for participating companies.

Ricoh Hong Kong expects to recruit participating companies annually, inviting Cyberport to recommend outstanding enterprises and selecting approximately 50 outstanding partner teams to ensure industry diversity. The program includes professional guidance, sales, and market expansion resources to help companies develop clear market strategies. Through Ricoh's sales and market expansion teams, companies will be assisted in promoting their products and solutions through diverse channels, providing profit opportunities and platforms for business expansion. Ultimately, the goal is to promote products or services to the Asia-Pacific market and beyond.

Cyberport Builds AI Ecosystem to Help Hong Kong Become an International AI and Innovation Hub

As Hong Kong's flagship digital technology hub and AI accelerator, Cyberport is committed to building a comprehensive ecosystem that encompasses computing power building, general and specialized large language model construction, model risk assessment, industry application support, study of governance and ethics. This includes establishing benchmarks for the quality and safety of AI models and researching governance and risk management reference guidelines for AI applications.

Currently, Cyberport is home to over 350 startups focused on AI and big data research and development. It has also attracted several leading AI enterprises and facilitated collaborations with top tech companies, leveraging their capabilities in computing power development, large model construction, algorithms, and data science to promote AI innovation and application. By gathering talent and innovative resources from both local and international sources, Cyberport supports innovative R&D and applications across different segments of the AI ecosystem chain, driving industrial development and helping Hong Kong grow into an international innovation and AI hub.

In addition, Cyberport launched the largest AI supercomputing center (AISC) in Hong Kong last year. With the HKSAR government's funding of HKD 3 billion, Cyberport is implementing the Artificial Intelligence Subsidy Scheme (AISS) to support local universities, R&D institutions, strategic enterprises and government departments in utilizing the computing power of the Cyberport AISC to achieve more scientific breakthroughs and strengthen the development of the local AI ecosystem. Cyberport AI Lab marshals R&D capabilities of AI ecosystem partner companies, providing an interactive space for showcasing AI solutions and launching service products. It offers a platform for AI ecosystem partners and enterprises to experience various supercomputing AI tools, hardware and language models, collaboratively exploring product innovation and technology integration for application in varied industries and scenarios.

Expanding Innovation Funding to Scale Startups and Accelerate AI Technology Industry Development

Ricoh Group currently offers the Ricoh Innovation Fund, which is aimed at scaling startups and providing funding support for technological innovation. As a corporate venture capital (CVC) fund, the Ricoh Innovation Fund focuses on supporting promising startups, particularly in the field of AI technology. The Ricoh InnoAI Program will further accelerate enterprise development and operations, creating a more robust business environment in Hong Kong and fostering continued growth, particularly in the field of AI technology.

Ricoh Asia Pacific will provide sales and marketing support to these enterprises, offering market insights and industry best practices to help them effectively promote their products and services. Ricoh aims to help local enterprises streamline data and improve performance in the most efficient way, leveraging Cyberport's computational power to encourage local enterprises to flourish. This will not only enhance the business performance of startups but also create new business opportunities for Ricoh Asia Pacific, increasing the diversity of Ricoh's product technology.

By providing opportunities for local innovation and technology enterprises and strengthening the application of AI technology among local companies, Ricoh hopes to promote overall digital transformation and business growth, enhancing market competitiveness. This will enable enterprises to generate profits in the Asia-Pacific market, including Japan, Taiwan, Singapore, and Malaysia, and to further expand Hong Kong's innovation ecosystem, thereby providing a platform for collaboration and exchange.

Hashtag: #Cyberport #Ricoh

The issuer is solely responsible for the content of this announcement.

About Ricoh (Hong Kong) Limited

Established in 1963, Ricoh (Hong Kong) Limited focuses on digital services and office solutions. Entering the era of digital transformation, Ricoh's Four Areas of Expertise includes Hybrid Workplace, Workflow & Automation, Cloud & IT Infrastructure, and Cybersecurity. Ricoh has been actively advocating corporate evolution in recent years, accompanied by digital services and four customer values: Simplifying Complexity, Uncovering Hidden Opportunities, Overcoming Obstacles, and Embracing Diversity, bringing people and technology together, so companies can focus on forward.

For more information, please visit www.ricoh.com.hk

About Cyberport

Cyberport is Hong Kong's digital technology flagship and incubator for entrepreneurship with over 2,100 members including over 900 onsite and over 1,200 offsite start-ups and technology companies. It is managed by Hong Kong Cyberport Management Company Limited, wholly owned by the Hong Kong Special Administrative Region Government, and committed to the vision to inject new impetus into digital economy and smart city development through innovation and technology, and to connect enterprises to Mainland China and overseas markets. Cyberport strives to nurture a vibrant tech ecosystem by cultivating talents, promoting entrepreneurship among the youth, supporting start-ups, fostering technology industry development by promoting strategic collaboration with local, Mainland Chinese and international partners, and integrating new and traditional economies by accelerating digital transformation in public and private sectors.

For more information, please visit www.cyberport.hk

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