Major Speeches, Presentations and Press Releases

SCED: Hong Kong strives to create enabling environment for start-ups

     The Hong Kong Special Administration Region Government (HKSARG) is committed to helping transform Hong Kong into a leading destination and hub for innovation and entrepreneurship, said the Secretary for Commerce and Economic Development, Mr Gregory So, at the Tech Symposium held by the Hong Kong Trade Development Council in Chicago, the United States (US) on June 10 (Chicago time).

     Speaking at the symposium, Mr So said Hong Kong strives to provide a vibrant ecosystem for innovation and technology to grow, and creates an enabling environment to help start-ups and tech enterprises succeed.

     Mr So pointed out that Hong Kong offers many advantages for start-ups to establish a base in the city. Different types of public and private initiatives especially designed to nurture start-ups and attract talent, including incubation programmes, government funding schemes, networking communities and co-work spaces, are in place to address the needs of start-ups and tech enterprises, he said.

     Geographically, Hong Kong is strategically located at the heart of Asia and on the doorstep of Mainland China. Hence, Hong Kong is the most convenient base for start-ups and tech enterprises to tap into Asia's huge market potential.

     "In line with our policy to promote innovation and technology, Hong Kong has a comprehensive intellectual property (IP) protection regime to effectively protect the fruits of innovation and creativity," Mr So said, adding that Hong Kong is poised to develop into a regional marketplace and service centre for licensing, franchising and IP registration.

     Noting that innovation and technology is an industry sector with huge potential for growth, Mr So highlighted three potential growth areas in Hong Kong, namely FinTech, the Internet of Things and smart city technologies. He encouraged forum participants to consider establishing tech enterprises in Hong Kong given its great location, sophisticated infrastructure and robust IP protection regime, all of which help innovative companies take off in Asia.

     Before the symposium, Mr So had a meeting with the US Under Secretary of Commerce for International Trade, Mr Stefan Selig, to discuss issues relating to trade and economic relations between Hong Kong and the US.

     Mr So is accompanying the Chief Executive, Mr C Y Leung, on his duty visit to the US. He will return to Hong Kong in the evening on June 12.

Ends/Thursday, June 11, 2015
Issued at HKT 12:35