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Hong Kong Sets Up Team To Assist Startups

by Mary Swire, Lowtax.net, Hong Kong
09 October, 2014

Invest Hong Kong (InvestHK), the Department established by the Government to attract foreign direct investment and support overseas and Mainland businesses to set up or expand in Hong Kong, has announced that it has set up a dedicated team to assist startups.

The Director-General of Investment Promotion, Simon Galpin, said: "The setting up of the new startup team marks a milestone for InvestHK in its outreach to founders and the local and overseas startup communities. I am hoping that the startup team will further embed Hong Kong's position as a leading destination and hub for startups and attract entrepreneurs and founders to set up their businesses in the city."

The new team comprises two executives with extensive links and experience in the local and overseas startup communities. They will establish strong networks with key startup community stakeholders in Hong Kong and help connect budding entrepreneurs with InvestHK's sector and overseas teams.

"The intention is to leverage the Department's existing strengths and resources [for multinationals] to assist startups and help Hong Kong's startup communities to continue thriving," Galpin added.

InvestHK has been actively promoting Hong Kong's role as the preferred regional startup hub, and has seen steady growth in the number of startup businesses in its portfolio since 2012, rising from about 10 percent to 17.5 percent of its total projects in the first half of 2014.

In the first half of this year, the Department helped 39 startups to set up in Hong Kong. Nine startups were from France, six from the United States, five from the United Kingdom, and four from Germany, joining the multimedia, asset management, and alcoholic beverage industries.


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