Start-ups and entrepreneurs will want to consider Hong Kong as the site for their business, due to several advantages over its neighboring countries.
Despite the recent civil unrest and the technical recession, HK promises excellent opportunities for businesses of all sizes. Here are # reasons why HK remains a viable launchpad for tech products and companies.
Technology
HK has developed into a modern tech platform, which houses several established companies such as SenseTime, an AI firm and Lalamove, a popular logistics organization. Local tech ecosystem has proven to be stable, thanks to local universities that can provide talent.
HK has modern conveniences that encourage a mobile lifestyle as well. For those who enjoy playing, regular access to data HK can meet your needs.
Innovation
The country has set some very attractive schemes for both local and international startups. For instance, one highlights the region’s ability to innovate, while another touts the fact that start-ups have the potential to grow better than if they were to set up shop in mainland China.
The most recent event was the Elevator Pitch Competition, held in Sky100. Here, minute-long pitches were given by hopefuls to attract venture capitalists and gain potential investments.
Opportunities
HK also has a few startup opportunities up its sleeve, marked by the fact that businesses are aware they should consolidate and strengthen their base before thinking about expanding.
Tech companies are getting the nod in both private and public funding, with 35 companies already being taken under its wing. Moreover, companies can use HK as a ‘gateway’ to gain access to the huge potential in the Greater Bay area.
Hong Kong has a lot of potential. Bigwigs say that it could be the next Silicon Valley that can rival California’s. Entering the market may be difficult without existing connections, but an initiative seeks to resolve that and make it easier for bootstraps to get noticed among the rest.