If you are asked what makes an ideal environment for startups, you would probably say money, people and support. Hong Kong exactly got everything an entrepreneur would need to start up a business. Additionally, the locality enjoys its proximity to mainland China which brings more benefits to the entrepreneurs in Hong Kong. Reported in Youth Mobility Index, Hong Kong is ranked the first in both outbound and inbound mobility for entrepreneurship.

Photo: group of people fist-bumping in a circle

Money

It is no exaggeration to call Hong Kong the next Silicon Valley. Hong Kong has been under the spotlight from Chinese corporations and venture capitals, such as Mindworks Ventures, Vector Ventures, and Alibaba.

To incubate startups innovating in emerging technology, Hong Kong X Technology Fund invested almost USD 20 million in 18 Hong Kong-based startups. A platform called LinkedSmart organised by Hong Kong and mainland China government accelerates collaborations between entrepreneurs in Hong Kong and investors around the world.

One of Hong Kong’s major initiatives to support startups is the Innovative and Technology Venture Fund which allocates USD 3 billion since 2015. Apart from government, some private corporations also participate to accelerate the growth of startups, such as Betatron representing a network of investors; and Blueprint offered by Swire.

Photo: WeWork co-working space, Hong Kong
Photo: WeWork

Support

The biggest support from Hong Kong government is actually not to imply any constraints on trading. The hands-off approach provides a free port to boost import and export force that benefits trading-related industry starters. In recent years, the government actively contributes some efforts as they provide entrepreneurs with supportive programmes, such as Cyberport Incubation and Incu organized by Science Park. InvestHK organizes events for entrepreneurs every year to help them blend into the startup community.

Besides, a startup entrepreneur could obtain support or advice from the other entrepreneurs in some co-working spaces in the city, such as CoCoon, The Hives and WeWork.

Photo: Young staff, startup, collaboration

People

Hong Kong is truly a talent pool where startup companies could hire people of different cultural backgrounds and language competency. The best part is most of the employees are able to speak English and this is a great advantage to attract foreign startup founders to come to Hong Kong.

Photo: Shanghai skyline

Location

Hong Kong has long been served as the centre of Asia while at the same time as a gateway to China. For any companies looking for expansions in China, Hong Kong is the start point for their entrepreneurial journey. On the other hand, establishing a Hong Kong-based company could benefit the convenience of manufacturing supplies from mainland China through channels such as Taobao or Alibaba.

To discover what moves young Asians, learn more about the Youth Mobility Index (YMi.asia) at www.ymi.asia

YMI 2018 Reports
PDF HTML YMI 2018 REPORT
PDF ALL LOCALES
PDF HTML BANGLADESH
PDF HTML BHUTAN
PDF HTML CHINA
PDF HTML HONG KONG
PDF HTML INDONESIA
PDF HTML INDIA
PDF HTML JAPAN
PDF HTML CAMBODIA
PDF HTML KOREA
PDF HTML LAOS
PDF HTML SRI LANKA
PDF HTML MYANMAR
PDF HTML MALAYSIA
PDF HTML NEPAL
PDF HTML PHILIPPINES
PDF HTML PAKISTAN
PDF HTML SINGAPORE
PDF HTML THAILAND
PDF HTML TAIWAN
PDF HTML VIETNAM
Freedom from 72 years of Independence in India

Freedom from 72 years of Independence in India

In 1947, Britain formally handed India its political independence. Though being freed from the British government for 72 years, how much freedom India is actually having nowadays, especially for its younger generations?

read more
Are you happy, Singapore?

Are you happy, Singapore?

When we talk about Asia, Singapore is always placed ahead of the other Asian localities. For instance, as reported in Youth Mobility Index, Singapore was placed #1 on its ranking regarding youth mobility and the criteria includes the country’s local...

read more