- Partnership unlocks AI innovation flow between Malaysia, Hong Kong & the Greater Bay Area
- Collaboration strengthens Sunway iLabs’ role as a regional gateway for deep-tech & AI startups
Sunway iLabs, the innovation lab and corporate venture capital (CVC) arm of Sunway Group, has entered a strategic partnership with the Alibaba Entrepreneurs Fund (AEF) – NextGen Fund to deepen collaboration between Malaysia, Hong Kong, and the Greater Bay Area (GBA).
The partnership opens a gateway for Sunway iLabs to tap into cutting-edge AI developments from Hong Kong, while positioning Sunway’s integrated ecosystem as a living lab where AI startups can explore real-world applications and regional pathways for adoption. It also creates a two-way bridge for startups from both regions to accelerate market expansion, pursue joint R&D, and support technology transfer across borders.
Hong Kong’s startup ecosystem continues to demonstrate strong momentum, with 67 IPOs completed on HKEX in the first nine months of 2025, according to KPMG. This 50% increase from the previous year underscores deeper market confidence and a more active pipeline of high-growth companies. The rise in A+H stock market listing applications—from five filings in 2024 to 83 in 2025—further reinforces Hong Kong’s role as a strategic financial gateway, enabling Chinese tech firms to access global capital while providing international innovators with a clearer pathway into China.
Established in 2015, AEF has invested over US$100 million (RM412 million) in more than 80 startups, including WeLab and Airwallex. It plays a central role in Hong Kong’s innovation landscape through ecosystem-building initiatives such as Jumpstarter—one of Asia’s most influential startup events with more than 520,000 attendees—and HKAI Lab, a pioneering accelerator that has supported over 100 AI startups.
“Working with the AEF–NextGen Fund reinforces our long-term ambition to drive innovation and sustainable growth, combining Malaysia’s diverse environment for scaling with Alibaba’s deep technical expertise and research network to help the next generation of innovators bring impactful solutions to market,” said Matt van Leeuwen, chief innovation officer of Sunway Group and CEO of Sunway iLabs.
“Our partnership with Sunway iLabs underscores the AEF–NextGen Fund’s mission to serve as a bridge for AI startups from Hong Kong and Greater China to expand into Malaysia and the broader Southeast Asia region. By leveraging our deep roots within the global Alibaba ecosystem, we see tremendous potential to unlock mutual value as we work together to drive the development and adoption of AI and its applications across industries,” said Cindy Chow, CEO of AEF.
The AEF–NextGen Fund’s recent investment in Infinigence AI, a Beijing-based AI compute optimisation company, highlights its commitment to supporting companies aligned with long-term AI development and global expansion.
Through this collaboration, Sunway iLabs will gain access to high-potential AI solutions emerging from Hong Kong and the GBA’s innovation community, while engaging Sunway’s 13 business units across sectors such as healthcare, education, retail, and construction. The partnership also strengthens Sunway’s ties with leading institutions—including Damo Academy and Hong Kong universities—to bolster deep-tech capabilities and future talent development in Malaysia.
In parallel, it elevates Sunway University’s role as an innovation and talent engine by enabling applied research collaborations, expanding industry-based learning experiences, and building stronger talent pipelines aligned with real enterprise needs.
At the same time, AI startups from Hong Kong and the GBA will be able to explore real-world use cases and potential market-entry pathways in Malaysia and Southeast Asia through Sunway’s integrated ecosystem. This two-way collaboration strengthens market expansion for startups from both regions while supporting joint R&D efforts and technology transfer across borders.
Recognised by the Malaysian Venture Capital and Private Equity Association as a leading CVC, Sunway iLabs has been a key contributor to Malaysia’s startup ecosystem through co-investments with partners such as Hive SEA, Gobi Partners, and Kejora Capital. Its global network—including a16z in Silicon Valley, CICC in China, and Cambridge Deeptech Labs in the UK—positions Sunway iLabs as a strategic innovation gateway linking frontier technologies to Southeast Asia’s rapidly evolving landscape.
