The Division of Arts and Machine Creativity (AMC) is glad to announce that Everlyn Limited Inc., led by our faculty member Prof. Harry YANG, has been recommended by the Selection Committee to receive a HK$300,000 in funding under the Technology Start-up Support Scheme for Universities (TSSSU-O) for the 2025/26 period.
In addition, Everlyn Limited has received conditional approval to join the Hong Kong Science and Technology Parks Corporation (HKSTP) Incubation Program for a duration of three years. This program offers comprehensive support to technology start-ups, including funding, R&D assistance, mentorship, and access to state-of-the-art facilities, all aimed at accelerating the company’s growth and innovation.
About TSSSU-O at HKUST:
The Technology Start-up Support Scheme for Universities (TSSSU) is an initiative funded by the Innovation and Technology Commission (ITC) to encourage students and faculty members to establish technology start-ups and commercialize their R&D results. At HKUST, TSSSU is divided into two components: TSSSU-O and TSSSU+. TSSSU-O provides annual funding of up to HK$1.5 million per start-up, supporting early-stage technology companies formed by HKUST members. The funding period typically starts from the date of ITC’s approval and runs until the end of the Government financial year (i.e., March 31).
About the HKSTP Incubation Program:
The Hong Kong Science and Technology Parks Corporation (HKSTP) offers a three-year Incubation Program designed to support technology start-ups in developing their solutions from early-stage technical builds to market exploration and business development. The program provides comprehensive services, including funding and R&D support, mentorship, investor matching, and access to world-class equipment, software, and lab facilities. Each start-up is assigned a dedicated account manager to guide them through their entrepreneurial journey.
About Everlyn Limited:
Everlyn Limited is at the forefront of autonomous video AI, dedicated to creating cutting-edge technologies that redefine the future of video generation. The company specializes in a decentralized approach to video production, leveraging its proprietary technologies such as superpipeline-quantization and xDiT to reduce costs by 10x compared to centralized models.
Everlyn is renowned for its world-first open-source autoregressive video foundation model, Everlyn-1, which enables efficient, high-quality, and scalable video generation. With applications ranging from agential video ecosystems and personalized virtual experiences to smart contract-integrated video services, Everlyn is transforming video creation into a more accessible and dynamic medium.
The team, composed of leading AI scientists from institutions like HKUST, Peking University, and Harvard, as well as tech giants like Meta and Tencent, has made significant strides in producing long, themed videos tailored for markets in Asia, the Middle East, and North America. Everlyn also plans to expand further in Shenzhen and Hong Kong, supported by strong partnerships and investment commitments.
