StartmeupHK (Part 2) (LUE4002)

Summary

The 'Start Me Up Hong Kong' initiative, led by Invest Hong Kong's Ms. Jane Chan, aims to establish Hong Kong as a premier global entrepreneurship hub. The initiative emphasizes international collaboration, attracting diverse talents and fostering innovation within the startup ecosystem. Despite challenges posed by the COVID-19 pandemic, the initiative successfully transitioned to virtual events, showcasing resilience. Key strengths include a high number of unicorns and increasing startup employment, while challenges remain, such as talent shortages and high property costs. Future focus areas for growth include fintech, smart cities, artificial intelligence, logistics tech, and e-commerce, leveraging Hong Kong's unique position as a financial and trading center.

Takeaways

• 🎉 Since 2013, Start Me Up Hong Kong has focused on developing Hong Kong as a leading entrepreneurship and innovation hub.
• 🌍 The initiative aims to attract innovative and scalable startups from overseas while providing insights about Hong Kong's startup ecosystem to potential investors.
• 🤝 Start Me Up Hong Kong connects international entrepreneurs with local startups using Invest Hong Kong's extensive network and resources.
• 🎊 The Start Me Up Hong Kong Festival has been celebrated annually since 2016, promoting the startup ecosystem globally.
• 💻 The 2020 festival was held online and attracted over 17,000 delegates from 54 countries, showcasing a strong international presence.
• 📈 Key topics at the festival included smart cities, retail tech, AI, fintech, lifestyle tech, and global startup trends.
• 🌟 One significant achievement of the festival was successfully transitioning from a physical to a virtual event due to the pandemic.
• 🗺️ Hong Kong's international character sets it apart from other startup hubs, with one-third of founders coming from abroad.
• 🏙️ The startup ecosystem's strengths include a high per capita of unicorns and increasing employment in startups.
• 🔍 Challenges faced by the ecosystem include a lack of deep tech talent and high property costs.

Q & A

What is the main purpose of Start Me Up Hong Kong?

Start Me Up Hong Kong, launched by Invest Hong Kong, aims to develop the city as a leading hub for entrepreneurship and innovation by attracting high-impact startups from overseas.

Who currently heads Start Me Up Hong Kong?

Start Me Up Hong Kong is currently headed by Ms. Jane Chan.

What major event does Start Me Up Hong Kong organize annually?

Start Me Up Hong Kong organizes the Start Me Up Hong Kong Festival, which promotes the startup ecosystem globally.

How did the 2020 Start Me Up Hong Kong Festival adapt due to the pandemic?

Due to the pandemic, the festival was postponed from January to July and ultimately shifted to a virtual format, accommodating various activities online.

What distinguishes Hong Kong from other global startup hubs?

Hong Kong's international environment is a key differentiator, attracting diverse talent and fostering a collaborative ecosystem that enhances the startup landscape.

What role does Invest Hong Kong play in the startup ecosystem?

Invest Hong Kong facilitates collaboration among various stakeholders in the startup ecosystem, including government bodies, accelerators, incubators, investors, and corporates.

What are some identified strengths of the Hong Kong startup ecosystem?

Strengths include a significant number of unicorns per capita, a robust international community, and a growing impact on the local economy through job creation.

What challenges does the Hong Kong startup ecosystem face?

The ecosystem faces challenges such as a shortage of deep tech talent and high property costs, which can hinder startup growth.

Which startup sectors does the speaker suggest Hong Kong should focus on promoting?

The speaker suggests promoting sectors such as fintech, smart cities, artificial intelligence, logistics tech, and e-commerce due to their potential for growth and relevance to Hong Kong's strengths.

How has the startup ecosystem in Hong Kong contributed to the local economy?

Startups in Hong Kong employ approximately 12,000 people, reflecting a significant increase in job creation and contributing positively to the local economy.