Hong Kong was recently ranked third in this year’s World Financial Center Index 36 report, confirming its status as the world’s leading financial hub and ability to attract entrepreneurs from around the world. This success is thanks to our continued support for various initiatives, including the StartmeupHK Festival, which promotes innovation and entrepreneurship.
The StartmeupHK festival, which runs until October 25, 2024, showcases Hong Kong as a vibrant startup hub. Founded in 2016 and hosted by InvestHK (a government arm focused on elevating the city’s status as Asia’s leading international business hub), the festival features dynamic events including conferences, exhibitions and pitch competitions. I’m here. This year’s festival, with the theme “A Future Unlimited”, focuses on key areas such as AI, green tech and health tech, reflecting Hong Kong’s commitment to innovation and economic growth.
Pokémon Go World Champion Cheng Yip-kai spoke at this year’s Game On! event. Image from StartmeupHK Festival. A debate on Hong Kong’s iconic Star Ferry. Image from StartmeupHK Festival.
RADII spoke to Jane Chan, Head of Startups at InvestHK, about the festival’s goals and its impact on SMEs (small and medium-sized enterprises) and startups so far.
The event also aims to attract international technology companies to explore business opportunities in Hong Kong. To substantiate this, roadshow events have been held in various technology hubs around the world, resulting in delegations from Canada, the UK, India, the Philippines, Shenzhen and Shanghai attending StartmeupHK this year, Zhang said. Explained. These initiatives strengthen the festival’s role in fostering innovative partnerships within the startup ecosystem.
Mr. Chan emphasized the impact of the festival: “The festival serves as a dynamic platform for startups to showcase their innovations and build important connections.Last year (2023) we welcomed over 12,000 participants from 85 countries, ”This year’s numbers are not yet available, but participants will be attending the Sustainability Market at the iconic shopping center K11 Musea and Victoria. – Mr. Chan explained that he was able to experience unique networking opportunities, including a beautiful sunset hike at the peak.
Jump starter ignition gala. Image from StartmeupHK Festival’s LinkedIn page. Jane Chan. Image via ParticleX.
The festival’s global reach supports Chan’s contention that by fostering an environment that supports entrepreneurship, young innovators can thrive and contribute significantly to local economies.
In 2023, Hong Kong’s startup ecosystem flourished, with a record 4,257 startups employing more than 16,000 people. The city’s favorable tax structure, access to capital, and entrepreneurial culture position it as a leading destination for founders. Notably, 68% of the founders were local, 6% were returnees, and 26% were non-local, primarily from mainland China, the UK, the US, France, and Australia. Key areas for startups include fintech, e-commerce, food technology, and more.
Although the festival is coming to an end, it embodies the Hong Kong government’s commitment to fostering a vibrant startup ecosystem that is essential for young innovators. By promoting entrepreneurship, the festival not only enables startups to grow, but also makes a significant contribution to the wider community and local economy. With continued support and investment, Hong Kong remains a leading hub for innovation, poised to attract talent and opportunity from around the world.
Banner image of Joya (left), a Hong Kong-based singer and artist, and Jayne Chan (right), head of startups at InvestHK. Image from StartmeupHK Festival.
