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Tuesday, April 25, 2017, 18:14

Cyberport seeks 1,200-strong startup stable

By Luo Weiteng

Hong Kong Cyberport Management Company plans to raise the number of startups in its community to 1,200 in an effort to boost the city’s buzzing startup scene.

We bet big and have what it takes to exert a digital impact not only on the territory, but on the region and across the globe, as innovation never has a geographic boundary

George Lam, Chairman, Cyberport Management Company

The company, wholly owned by the Special Administrative Region government, is looking to expand its startup tally 36.5 percent, increase the names of active investors on the list to more than 100 and help promising entrepreneurs raise as much as $2.8 billion (US$360 million) in funds.

The firm indicated its determination to enliven Hong Kong’s startup scene when unveiling its latest Three-Year Plan.

"The high-profile ‘Belt and Road’ initiative and booming digital economy spell huge opportunities for those with the foresight to jump on the bandwagon. It is the best time for Hong Kong to sharpen its edge as the magnet for up and coming innovative startups all over the world,” Cyberport Chairman George Lam said on Tuesday.

"We bet big and have what it takes to exert a digital impact not only on the territory, but on the region and across the globe, as innovation never has a geographic boundary.”

So far, Cyberport has helped 67 startups make inroads into overseas markets and attract cumulative investments of $1.52 billion. Success stories include the home-grown brand GoGoVan, which was one of the three startups receiving the $1billion entrepreneurs’ funds from Chinese mainland e-commerce behemoth Alibaba last year.

The HK$200 million Cyberport Macro Fund, launched last year with the aim of attracting international commercial investors to support Hong Kong's tech startups, had already obtained more than 100 applications, Lam revealed.

sophia@chinadailyhk.com

 
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