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HK tech start-ups get fundraising programme

Image Credits: HKSTP, Press Release

The Hong Kong Science and Technology Parks Corporation (HKSTP) and the Hong Kong branch of a multinational professional services firm jointly announced the launch of Tech Raiser.

The two-year fundraising programme aims to build star companies, expand the investor community and attract quality technology companies to Hong Kong. It will help foster a robust Innovation & Technology (I&T) ecosystem for Hong Kong to stay competitive in the new economy.

HKSTP’s first fundraising acceleration programme collaborating with an international accounting firm, Tech Raiser aims to “Inspire, Connect and Invest” by pooling together the resources and networks of the professional services firm and HKSTP.

Under the programme, participating companies will attend the firm’s Startup’s Accelerator Programme in Mainland China and Hong Kong, which provides intensive acceleration and fundraising training, along with deep insights into the market landscape.

Tech Raiser will also give the tech companies access to networking opportunities with Hong Kong’s young entrepreneurs and successors in private and family businesses at the firm’s NextGen Club.

Running from August 2019 through to July 2021, Tech Raiser comprises three intakes with different industry focuses to provide all-round fundraising training and support for at least 30 companies.

The six industries covered in the programme include Financial Services; Entertainment, Lifestyle & Education; Real Estate & Infrastructure; Advanced Manufacturing & Environmental Sustainability; Automobile, Transportation & Logistics; Healthcare.

The programme also offers face-to-face investment matching opportunities with the firm and HKSTP’s wide network of investors and enterprises. Delegated investment managers from the company and HKSTP will offer mentorship throughout the programme.

The CEO of HKSTP stated that giving start-ups and technology companies the right support at the right moment is crucial for their continued growth, be it R&D, business guidance and planning, go-to-market strategies or funding.

The Park welcomed the support of the firm as another key partner and stakeholder within Hong Kong’s strengthening I&T ecosystem. Beyond just fundraising and providing a pipeline of high-quality deal flows, the firm contributes further to Hong Kong’s ecosystem that its start-ups can benefit from. That is through the provision of strong international networks, business expertise and financial know-how.

Together, it is hoped the two see high-potential companies and start-ups gain the most that the Tech Raiser programme can provide.

Tech Raiser presents a “win-win” solution for technology companies in need of funding and for traditional industries seeking to tap into I&T. While the participating companies will have the chance to obtain additional funding support for their business development, traditional industry players will have opportunities to invest in the latest technologies or to adopt innovative solutions to support their businesses.

Combining the strength and experience of the firm and the Park, the programme sets to expand Hong Kong’s investor community and contribute to a bigger capital base for I&T development in the long term.

The Asia Pacific and Greater China Chairman of the firm stated that there is a need to innovate collaboratively. Government agencies, established companies and professional services firms should come together to develop Hong Kong as a centre for investing and nurturing innovation.

There has been a definite increase in the number incubators, accelerator programmes and funds targeting innovative tech companies. These initiatives are being led by various sectors.

The aim is to want to work with these tech companies to co-create solutions that will create a robust innovation and technology ecosystem in Hong Kong.

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