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InvestHK survey points to surging number of start-ups from around the world

Invest Hong Kong (InvestHK) announced today (November 1) the results of its 2016 start-up survey, which saw 1 926 start-ups engaged in various tech sectors and operating at different co-work space, incubator or accelerator locations across Hong Kong.

The results of the survey were released as the Secretary for Commerce and Economic Development, Mr Gregory So, hosted a launch reception with the start-up community this evening to unveil InvestHK's flagship 2017 StartmeupHK Festival, scheduled for January 16 to 20, 2017 at the Hong Kong Convention and Exhibition Centre in Wan Chai and PMQ in Central.

In his opening address at the reception, Mr So talked about the survey results and said that Hong Kong has the community, resources and opportunities to turn great ideas into reality, as demonstrated in the synergy and growth in its start-up ecosystem.

Mr So said, "With the 2017 StartmeupHK Festival all set to kick off, things are about to get even better. The week-long programme offers a range of activities taking place at multiple venues, and we expect thousands of participants coming from the local and overseas start-up communities."

The survey was carried out by InvestHK in collaboration with 38 co-work space, incubation and acceleration programme operators, who gave information on the profile of their users or participants. It was found that a total of 1 926 start-up companies were registered with them, representing a 24-per cent increase compared to 1 558 in 2015.

The companies were engaged in different businesses including information, computer and technology (401 start-ups in 2016 vs 273 in 2015); e-commerce, supply chain management and logistics technology (249 vs 142); professional or consultancy services (180 vs 137); design (158 vs 124); and Fintech (138 vs 86). Among the Fintech start-ups, engaged subsectors included financial software and services, algorithmic trading and algorithm-based portfolio management, payment, wealth management, lending and crowd funding, cybersecurity and anti-fraud services, crypto-currency and blockchain, insurance, and currency, remittance and foreign exchange.

Meanwhile, the survey results also indicate that there were at least 2 039 entrepreneurs involved in the 1 926 start-ups. About 65 per cent of these people came from Hong Kong (locals or returnees). Of the approximately 600 non-Hong Kong founders with origins indicated, the top four origins were the US (20.7 per cent), the UK (13 per cent), Mainland China (11.3 per cent) and France (10.3 per cent). Others included European origins such as Germany, the Netherlands and Italy; Asian origins such as Singapore, India, Japan, Taiwan and Korea; and Australia and Canada.

The Acting Director-General of Investment Promotion, Mr Charles Ng, said, "It is very encouraging to see the number of founders in Hong Kong rising by such a magnitude. It shows that innovative founders aspiring for the global markets choose Hong Kong as their base to scale up. As Hong Kong continues to develop our start-up ecosystem and encourage different technology trends, and given our unrivalled location at the gateway to the massive Mainland market, we are optimistic that global founders will continue to invest in and grow their business from our city."

About InvestHK

InvestHK is the department of the Hong Kong Special Administrative Region Government established in July 2000 to attract foreign direct investment and support overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services to help businesses succeed in Hong Kong’s vibrant economy. For more information, please visit www.investhk.gov.hk.

For an event photo, please visit www.flickr.com/photos/investhk/albums/72157674527449272.

01.11.2016


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