Nurturing Hong Kong’s local and international entrepreneurs

Hong Kong's entrepreneurship incubation programmes are nurturing a new generation of businesses, both from here and abroad. The city has the potential to become a popular entrepreneurship hub in Asia, according to regional experts.

To date, InvestHK, Nest, the Hong Kong Science & Technology Parks Corporation (HKSTP), Cyberport and the Hong Kong Design Centre (HKDC) are offering incubation programmes to support entrepreneurs across a variety of industries. 

InvestHK’s StartmeupHK Venture Programme, for example, targets “entrepreneurs with global vision and scalability to set up business in Hong Kong”, regardless of industry or sector. All entries are assessed based on their value proposition, business model, team and benefits to Hong Kong. However, experience to date suggests that most programme beneficiaries will be from the e-commerce sector.

Simon Galpin, director-general of investment promotion of InvestHK, notes that many start-ups that InvestHK assists are engaged in solutions for e-commerce or digital marketing. He believes that Hong Kong’s proximity to the manufacturing centre of high-end technology products in southern China, the high mobile penetration rate of 237 per cent, and a deep local talent pool add further appeal to the city’s start-up ecosystem.

Founded in 2010, Nest, Hong Kong’s first business incubator, also welcomes start-ups across industries to apply for its three-month incubation programme.

“We look for an idea that is unique, that has a digital, scalable element, which can go beyond Hong Kong and make it globally,” says Simon Squibb, chief executive of NEST.