Hong Kong (15 June 2005) – Radica Systems Limited (Radica), a successful Hong Kong high technology start-up, today hosted an opening ceremony for its research and development headquarters at the Hong Kong Science Park (HKSP). Radica is a provider of intelligent e-Marketing software.

Radica is the first Hong Kong University of Science and Technology (HKUST) spin-off company to locate its headquarters in HKSP. Radica's founder was a graduate of the HKUST and the company was a member of the HKUST Entrepreneurship Programme during its start-up phase. Radica joined the Hong Kong Science and Technology Parks Corporation (HKSTP) Incubation Programme and successfully graduated to become a tenant in December 2004.

Radica will employ 15 workers at the new R&D centre and create 31 new jobs over the next three years with 77 percent of the new jobs in R&D related activities. Radica's total planned R&D expenditure for the four years will be HK$25.9 million.

“Radica has been receiving valuable advice and generous support from our alma mater, HKUST, and HKSTP over the years. It is a milestone for Radica to grow from an incubatee to a tenant and become the first HKUST spin-off company that establishes our headquarters at HKSP,” said Mr. Francis Kwok, Chief Executive Officer of Radica.

Radica chose the Science Park location based on a number of key factors: such as the Park's excellent work environment and the sophisticated laboratory facilities for R&D activities, as well as the extensive collaboration network with HKSP's other tenants and tertiary institutions.

“HKSTP's Incubation Programme has given Radica great support, especially with financial support, mentorship and university collaboration programmes. We are proud to foster Radica's rise from incubatee to tenant in the Park. We believe Radica will further enhance HKSTP's IT/Telecommunications cluster through new job creation, technology advances and direct investments ,” said Mr. Pau Shiu-hung, Acting Chief Executive Officer of HKSTP.

“The success of Radica says much about the efficacy of HKUST's nurturing of innovative and technological talents. Information Technology plays a pivotal role in the social and economic development of Hong Kong and beyond. For this reason, the university will continue to advocate IT education, and develop cutting-edge technologies on that front,” said Professor Paul Chu, President of HKUST.

According to a recent IDC forecast, growth for the Customer Relationship Management (CRM) services market is likely to be modest to moderate over the next 18 to 24 months and moderate to strong over the full-five year term ending in 2009. The CRM services market has been revitalised over the past year due to a recovering economy, higher-than-expected business profits, a trend toward more complex consulting and systems integrations contracts, and a flourishing interest in transformation outsourcing.

To address this market potential, Radica's planned R&D activities at the Science Park include its flagship products – Radica Obert (artificial Intelligence based personalisation engine for e-sales) and Radica Intimate (intelligent email marketing software). Other projects include Radica List Manager and RFID chip designs.

Radica offers its CRM and artificial intelligence-based intelligent e-marketing software to multinational companies and public organisations with 50 percent of the company's main products (Obert, Intimate and List Manager) made for exportation to Asia, the Middle East and Europe . Prominent local customers include Canon Hongkong Co. Ltd., Epson Hong Kong Ltd., Hutchison Whampoa Properties Ltd., the Education and Manpower Bureau of t he Hong Kong Special Administrative Region ( HKSAR) Government, and the Trade and Industry Department of HKSAR Government.

Recently, Radica sponsored the “Radica Creative e-Marketing Award 2005” at HKUST, which aimed to keep students abreast of the latest e-marketing development and stimulate their creativity in designing e-marketing campaigns. The award presentation for the three winning team leaders was held as part of the opening ceremony.