Opinion | Weakest link in Hong Kong’s tech ecosystem? Scale-up funding
With venture capital and IPO growth weak globally, start-ups should aggressively seek international commercialisation, leverage marketing strategies and connect with power players overseas
Hong Kong has made significant strides since the establishment of Cyberport and Hong Kong Science Park decades ago, which have since evolved to become vital incubators for innovative start-ups. Early tenants such as logistics group GogoX (formerly GoGoVan), AI pioneer company SenseTime and blockchain video-gaming firm Animoca Brands have become strong players in their fields.
Silicon Valley serves as a model for driving innovation value, characterised by several key factors: strong ties with world-class research universities, government support through contracts and subsidies, a critical mass of leading companies, access to growth capital, and opportunities for acquisitions and initial public offerings (IPOs). How does Hong Kong compare?
Local colleges such as the University of Hong Kong contribute talent, research and innovation to Cyberport while the Hong Kong University of Science and Technology helps to catalyst Science Park projects. The Chinese University of Hong Kong and other top institutions play similar roles, akin to Stanford University’s influence in the Bay Area.