Hong Kong’s
Startup Ecosystem
ASIA’S OPPORTUNITY HUB FUELS INNOVATION, AGILITY AND DIVERSITY
Hong Kong’s startup ecosystem returned some impressive results in the past year, despite the ongoing economic challenges of the global pandemic. The growth in the overall number of startups, employees and co-working, incubator and accelerator locations across the city is testament to Hong Kong’s attractiveness to startup founders. An increase in the number of startups from overseas and Mainland China, and a continued diverse mix of nationalities choosing Hong Kong as their base, further demonstrate our unique role as a bridge for innovative companies to access the Mainland and Asian markets through Hong Kong.
"Adversity so often drives innovation. For the second year running we’ve seen just how agile and innovative our startup community really is, despite the great challenges that face the business world right now. In Hong Kong, we pride ourselves on providing robust support for the startup ecosystem to grow, focusing on access to talent, market and funding."
HONG KONG CONTINUES TO ATTRACT THE WORLD
MAJOR ORIGIN COUNTRIES/TERRITORIES OF NON-LOCAL FOUNDERS
The past year has seen a rebound in the number of startups from overseas and the Mainland fuelled in part by the growth of affordable co-work spaces, incubator and accelerator programmes, and companies turning to technology to mitigate the impact of the pandemic. While 66% of the startup founders who provided origin information were Hong Kong locals and 7% were Hong Kong returnees, 28% of the startup founders were non-locals, from countries/territories as diverse as Mainland China, United States, United Kingdom, France and India, among others.
STARTUPS ACROSS A WIDE RANGE OF INDUSTRIES
Hong Kong remains attractive to a diverse range of industries. But the continued rise of digital behaviour in businesses and consumers alike has fuelled specific startup growth in sectors such as e-commerce and supply chain & logistics, while remote learning is driving exciting developments in edtech.
The above information is based on an online survey conducted by InvestHK with results finalised in September 2021. The survey was conducted in collaboration with a total of 69 operators of co-work spaces, incubators and accelerators covering 124 locations. Information is based on answers from respondents who provided data for the questions.
Disclaimer: The information contained in this publication is for general reference only. While every effort has been made to keep information current and accurate, lnvestHK does not accept any responsibility whatsoever in respect of such information. There is no implied endorsement of any material or recommendation of a company or service provider over another.
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