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 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 firm to tap into cutting-edge artificial intelligence (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 is noted 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 underscores deeper market confidence and a more active pipeline of high-growth companies.

The rise in A+H stock market listing applications, up sharply from just five filings in 2024 to 83 filings in 2025, further enhances Hong Kong’s role as a strategic bridge, enabling Chinese tech companies to access global capital while giving foreign innovators and investors a structured pathway into China through an internationally connected financial hub.

Established in 2015, AEF has invested over $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, Jumpstarter startup event, among Asia’s most influential event of its kind with more than 520,000 attendees, and HKAI Lab, one of the pioneering players in AI startup acceleration and investment in Hong Kong which has accelerated over 100 AI startups.

“Working with 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 to bring impactful solutions to market,” said Matt van Leeuwen, Chief Innovation Officer of Sunway Group and Chief Executive Officer of Sunway iLabs.

Cindy Chow, Chief Executive Officer of AEF, also said the partnership with Sunway iLabs underscores 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,” she added.

As part of its focus on AI-driven innovation, 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 and the GBA’s innovation community and collaborate with its 13 business units across verticals such as healthcare, education, retail, and construction.

It 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 talent in Malaysia.

In parallel, it further 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 to real enterprise needs.

At the same time, AI startups from Hong Kong and the GBA may 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 research and development (R&D) efforts and technology transfer across borders.

It is noted that Sunway iLabs has been an active part of Malaysia’s startup ecosystem since its early days, 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, the China International Capital Corporation (CICC), Cambridge Deeptech Labs in the United Kingdom, and now the AEF-NextGen Fund, Sunway iLabs said it positions itself as the global innovation vantage point of the Sunway ecosystem, where it continues to strengthen its role as a bridge between frontier technologies and Southeast Asia’s rapidly evolving innovation landscape.

Through strategic alliances, Sunway iLabs also connects global AI/deep tech hubs with the region’s emerging opportunities.

Sunway iLabs and Cradle launch deep tech ventures lab to accelerate Malaysia’s innovation ecosystem