25 Sep SIP COMMITS NEW INVESTMENT TO HKUIT
Hong Kong, 25 Sep 2023 – Social Impact Partners (SIP), a pioneering venture philanthropy fund in Hong Kong, announces its investment in Hong Kong Univisual Intelligence Technology Co., Ltd. (HKUIT), a technology company specializing in AI human posture analysis.
HKUIT’s technology can remotely identify distress or physical difficulties, like detecting falls in elderly individuals. SIP's financial support will help HKUIT deploy its systems in underprivileged areas, such as child-care centers and elderly homes in Hong Kong, enhancing safety and service quality.
“HKUIT's technology and innovative applications can generate significant social impact, which aligns with UN Sustainable Development Goal #3 - improving Good Health and Well-being, “said Lillian Li, SIP’s executive director.
The investment decision by SIP involved a thorough due diligence process conducted by its strategic pro-bono partners, with legal advice via Mayer Brown; financial and accounting expertise from Deloitte, and human capital guidance from Egon Zehnder.
The size and type of SIP’s investment is not being publicised.
HKUIT is an artificial intelligence start-up founded by the Hong Kong University’s EEE (electrical and electronic equipment) team. The team focuses on AI technology that detects, predicts, and alerts in emergencies, proficiently identifying falls, fainting, drowning, and incidents of abuse. Notably, the technology is proficient in discerning human body movements from thermal images. It refrains from identifying facial or bodily characteristics and as such preserving individual privacy.
The technology finds applications in various areas. It enhances child safety by serving as a robotic inspector in schools and child-care centers with 24-hour CCTV systems, quickly identifying abnormal situations to ensure children's safety. It can also be used in elderly homes for resident protection. Furthermore, it can recognize human postures underwater and trigger alarms in water safety situations. Additionally, HKUIT's Robocoach app delivers personalized exercise guidance for healthier lifestyles.
HKUIT has already won a number of international awards. Most recently, HKUIT’s AI Motion Capturing and Prediction system called "AIMCS" won two awards at the 48th International Exhibition of Inventions in Geneva, Switzerland. The company initially received seed funding from the Cyberport Creative Micro Fund.
More about HKUIT: https://www.hkuit.com/
The technology extracts the “skeleton” of a human body, ensuring privacy to individuals, hence allowing the security in camera-prohibited areas, such as toilet and bedrooms.
The technology actively identifies human actions and signals an alert for unusual behaviors, such as lying in a public space, to draw attention.