Hong Kong serves as the premier springboard for mainland startups and unicorns: John Lee

Hong Kong serves as the premier springboard and strategic pivot for global supply chain deployment for mainland startups and unicorns to expand into internation market, Chief Executive John Lee Ka-chiu said on Monday.

Speaking at the Global Unicorn Summit, Lee said that the city also acts as the preferred hub for exploring the mainland market and the golden gateway to unlocking opportunities in China for global top-tier tech firms.

Connecting two ways and adding mutual value is Hong Kong's unique position, as well as the exceptional value the city strives to bring to global businesses, Lee added.

Last year, the number of non-Hong Kong companies establishing a place of business in the city and local startups reached more than 11,000 and 5,200, respectively, both hitting a record high, he said.

Over the past decade, about 20 local unicorns have emerged in the city, underscoring Hong Kong's surging momentum in nurturing world-class innovative enterprises, he added.

More than 90 tech enterprises have moved into Hong Kong Park in the Loop, which will be developed into a leading technology and innovation hub that connects the mainland and the world, Lee said, adding that Northern Metropolis San Tin Technopole, as its natural extension, will provide comprehensive supply chain support, spanning the upstream, midstream, and downstream sectors.

Meanwhile, Clara Chan Ka-chai, CEO of The Hong Kong Investment Corporation, said at the summit that every enterprise contains high potential on the journey of tech innovation, venture investment, and entrepreneurship.

Looking ahead, HKIC is actively pursuing the strategic upgrade of its role as patient capital, further connecting every portfolio company and partner to achieve progress from individual project success to the steady growth of overall industries, and to cross-sector synergy, Chan noted.

Meanwhile, Secretary for Innovation, Technology and Industry Sun Dong said that the government plans to expand patient capital, including optimizing the Innovation and Technology Venture Fund, adding that it will also launch the HK$10 billion Innovation and Technology Industry-Oriented Fund, which will focus on sectors including life and health technologies, AI and robotics, as well as semiconductors and smart devices.

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