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Hong Kong is one of the fastest growing startup ecosystems and one of the world’s top startup hubs. It not only is a fast growing tech startup ecosystems, at the activation stage but also one with great potential for acceleration driven by the city's supportive incubators and accelerators, the strong funding support for startups and a pool of angels/venture capitalists. Plus, all the enduring business advantages that Hong Kong provides such its world-class financial industry and its prime strategic location next to the hardware manufacturing cluster of the Pearl River Delta providing timely strategic opportunities growth for FinTechs and IoTs.
It is, however, still lagging behind in access to venture capital, despite the high number of high net worth individuals and deep-pocketed financial institutions according to the Global Startup Ecosystem Study. The good news is that there is increasing recognition of the importance of startups HKSAR government and a continued increase in the quantity/quality of startups and successful exits could rapidly turn the abundance of local capital and financial institutions into a venture funding strength.
“To realise its full potential as a startup hub, Hong Kong should further develop its position as an integrator and packager of ideas, talents and capital from around the world", says the Founder and Chief Catalyst of InnoFoco.
Building on its traditional strengths as a supply chain management hub, Hong Kong has strong potential in the development of startups combining hardware and software such as wearables and Internet of Things. The proximity to Shenzhen adds to this potential by providing easy access to inexpensive and rapid prototyping. Financial technology is another promising growth area, given Hong Kong’s long-held position as one of the major international financial centres.
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Disclaimer: Whilst reasonable care has been taken in provision of information above, it does not constitute legal or other professional advice. INTERSHORES does not accept any responsibility, legal or otherwise, for any error omission and accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, readers are advised to take appropriate professional advice before committing themselves to any involvement in jurisdictions, vehicles or practice. |
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