Ranked as the world’s freest economy for 21 years in a row by the Heritage Foundation, Hong Kong remains the top destination for business formation and entrepreneurship. Home to over 7,000 companies with parent companies based outside the territory, the city also has a diverse mix of startups in terms of founders’ origins, operational base and sectors. Altogether there are 1,065 startup companies employing 2,381 staff within co-work spaces.

Most recently on 6 February, Beijing-based Tus-Holdings Co Ltd announced the opening of TusPark (Hong Kong), its first innovation space in the city. In expanding into Hong Kong, the Mainland Chinese science park developer highlighted the city’s fast-growing startup ecosystem. Greg So, Secretary for Commerce and Economic Development, officiated at the opening ceremony and said, “Startups are the engines that would shape our future. By supporting startups which have the entrepreneurial passion to turn innovative and creative ideas into thriving businesses, they can become a new innovative force for Hong Kong’s economy.” The research also found that in terms of sector distribution, ICT, e-commerce and technology take the lion’s share.

When it comes to starting a business, the availability of funding, investors, talent and proximity to the Mainland and regional markets are crucial factors. Hong Kong has about 20 funding schemes available to startups and the number of angel investors and venture capitalists is on the rise.

For more information on this news letter, please e-mail ICE HK at This email address is being protected from spambots. You need JavaScript enabled to view it.  

Source: Invest HK

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