Sunway iLabsthe innovation lab and corporate venture capital (CVC) arm of Sunway Group, has entered into a strategic partnership with the Alibaba Entrepreneurs Fund (AEF)-NextGen Fund to foster deeper collaboration between Malaysia, Hong Kong and the Greater Bay Area.
Sunway iLabs said in a statement on Wednesday that the partnership opens a gateway for the company to tap into cutting-edge artificial intelligence (AI) developments in Hong Kong, while positioning Sunway’s integrated ecosystem as a living laboratory where AI startups can explore real-world applications and regional adoption pathways.
It is worth noting that Hong Kong’s startup ecosystem continues to show strong momentum, with 67 initial public offerings (IPOs) completed on HKEX in the first nine months of 2025, as reported by KPMG.
A 50 percent increase from the previous year reflects greater market confidence and a more active portfolio of high-growth companies.
The increase in A+H’s listing applications from just five filings in 2024 to 83 filings in 2025 further strengthens Hong Kong’s role as a strategic bridge, enabling Chinese technology companies to access global capital while providing foreign innovators and investors a structured pathway to China through an internationally connected financial hub.
Founded in 2015, AEF has invested more than $100 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 its flagship event, the Jumpstarter startup event, one of the most influential such events in Asia with over 520,000 participants, and HKAI Lab, one of the pioneering players in AI startup acceleration and investment in Hong Kong, which has accelerated the creation of 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 to scale 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, Sunway Group Chief Innovation Officer and Chief Executive Officer of Sunway iLabs.
AEF Managing Director Cindy Chow also said the partnership with Sunway iLabs highlights 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 Alibaba’s global ecosystem, we see enormous potential for mutual value creation as we work together to drive the development and adoption of AI and its applications across industries,” she added.
As part of its focus on AI-driven innovation, the AEF-NextGen Fund’s recent investment in Infinigence AI, a Beijing-based AI compute optimization company, illustrates its commitment to supporting companies aligned with long-term AI development and global expansion.
By partnering with the AEF-NextGen Fund, Sunway iLabs will be able to access high-potential AI solutions from the Hong Kong innovation community and the GBA and collaborate with its 13 business units in verticals such as healthcare, education, retail and construction.
This also strengthens Sunway’s ties with leading institutions, such as Damo Academy and Hong Kong Universities, supporting the development of deep tech innovation capabilities and future talents in Malaysia.
At the same time, this further strengthens Sunway University’s role as an innovation and talent engine by enabling applied research collaborations, expanding industry-based learning experiences, and creating stronger talent pipelines aligned with real business needs.
At the same time, AI startups from Hong Kong and the GBA could explore real-world use cases and potential market entry routes 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 research and development (R&D) efforts and technology transfer across borders.
It is worth noting that Sunway iLabs has been an integral part of the Malaysian startup ecosystem since its inception, partnering with venture capital funds such as Hive SEA, Gobi Partners, Kejora Capital and others for co-investments.
With global partners such as Andreessen Horowitz (a16z) in Silicon Valley, China International Capital Corporation (CICC), Cambridge Deeptech Labs in the UK and now the AEF-NextGen Fund, Sunway iLabs said it is positioning itself as the global innovation vantage point of the Sunway ecosystem, where it continues to strengthen its role as a bridge between cutting-edge technologies and Southeast Asia’s rapidly evolving innovation landscape.
Through strategic alliances, Sunway iLabs also connects global AI and deep technology hubs to emerging opportunities in the region.
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