February 21, 2024

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Fostering Innovation and Entrepreneurship in Hong Kong’s Tech Landscape

The Cyberport Entrepreneurship Programmes’ 20th Anniversary Celebration and Graduation Ceremony was a major event attended by notable personalities, distinguished guests and budding innovators.

Cyberport is Hong Kong’s digital technology flagship and incubator for entrepreneurship with over 2,000 members including over 900 onsite and close to 1,100 offsite start-ups and technology companies. It is managed by Hong Kong Cyberport Management Company Limited, wholly owned by the Hong Kong SAR Government.

With a vision to become Hong Kong’s digital technology hub and stimulate a fresh economic impetus, Cyberport is dedicated to cultivating a dynamic tech environment. This commitment involves nurturing talent, encouraging youth entrepreneurship, aiding startups, fostering industry growth through strategic partnerships with local and international entities, and driving digital transformation across public and private sectors, bridging new and traditional economies.

Image credits: Innovation, Technology and Industry Bureau

Professor Sun Dong, the Secretary for Innovation, Technology, and Industry, Hong Kong highlighted Cyberport’s incredible journey and the achievements of its vibrant community. Expressing his delight in commemorating Cyberport’s two-decade-long legacy, he emphasised the institution’s pivotal role as an ICT powerhouse in Hong Kong.

From its humble beginnings to its present stature, Cyberport has emerged as a catalyst for innovation, nurturing over 2,000 technology companies and startups and showcasing an exponential growth rate over the past five years.

Cyberport’s community has attracted a staggering US$38 billion of investment, marking its significance as an ICT flagship in Hong Kong. The establishment takes pride in its contribution to nurturing numerous innovative ideas and fostering dynamic business ventures, with seven notable unicorns in fintech, smart living, and digital entertainment sectors.

Cyberport excelled at the prestigious Hong Kong ICT Awards, with 25 startups securing 28 accolades, including the esteemed Award of the Year. This achievement showcased the institution’s exceptional calibre and innovation prowess nurtured within its ecosystem.

Acknowledging the pivotal role of startups in Cyberport’s success story, Professor Sun Dong shared how these young enterprises, often starting with a simple idea at a small table, grow in tandem with Cyberport’s support. The institution provides not just financial aid but also a nurturing environment where entrepreneurs can leverage extensive networks, collaborative spaces, and expert guidance to cultivate their ideas into commercial successes.

The graduation of more than 200 startups from the Entrepreneurship Programme stood as a testament to Cyberport’s commitment to fostering entrepreneurial talent. This initiative empowers startups to translate their ideas into tangible commercial solutions and market breakthroughs, laying the foundation for their future success.

Looking ahead, Professor Sun Dong outlined Cyberport’s exciting plans, including the upcoming expansion block slated for completion in two years, aimed at providing additional space for the community’s development. He also highlighted Cyberport’s initiative to establish the Artificial Intelligence Supercomputing Centre, a pioneering endeavour set to commence in 2024, envisioned to be a pioneering and substantial facility in Hong Kong.

Cyberport’s extraordinary journey showcases significant achievements while charting a promising future, embodying the core values of innovation, collaboration, and collective growth.

Professor Sun expressed gratitude on behalf of the Government, acknowledging their hard work and contributions to the tech ecosystem emphasising the importance of collective participation for a better future.

The vibrant success of events like the Cyberport Venture Capital Forum 2023 resonates with Cyberport’s commitment to fostering innovation and collaboration, further cementing its role as a catalyst for technological advancement and entrepreneurial growth in Hong Kong.

The Cyberport Venture Capital Forum (CVCF) 2023 saw a turnout of over 2,500 participants during its two-day hybrid event. Themed “Venture Forward: Game Changing through Innovation,” the forum convened 80 global visionary venture experts, entrepreneurial pioneers, and influential thinkers. With more than 120,000 page views and over 300 fundraising meetings facilitated, it solidified its position as a pivotal platform fostering networking and collaborative opportunities.


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