Business prospects for German start-ups in Hong Kong
The Hong Kong Economic and Trade Office, Berlin (HKETO Berlin) co-organised a start-up and networking event on 12 May 2023 (Berlin time) together with InvestHK and the German Industry and Commerce Ltd. (AHK Hong Kong), with the German Asia-Pacific Business Association (OAV) as partner.
Under the theme “Innovation Hub Hong Kong: Chances for German Start-ups”, the event included keynotes with industry experts and representatives from Hong Kong and Germany who shared their first-hand insights and experience in doing business in Hong Kong.
Ms Jenny Szeto, Director of HKETO Berlin, introduced the strategic advantages of doing business in Hong Kong and also shared the latest key indicators of Hong Kong’s thriving start-up ecosystem in her welcome remarks. “Hong Kong’s start-up ecosystem and attractiveness to overseas entrepreneurs continues to thrive despite the chaotic external environment. The total number of start-ups in Hong Kong has continued to increase in recent years, thanks to our strong network of venture capitalists, incubators and accelerators. We have now close to 4 000 start-ups, among which more than 10 have become a unicorn,” Ms Szeto explained.
Moreover, Ms Szeto emphasised that biotech and healthcare are two booming sectors for new start-ups in Hong Kong. The number of "biotech" and “health and medical” start-ups increased significantly by 139% and 67% respectively year-on-year, which reflects the fact that Hong Kong is Asia’s largest and the world’s second largest fundraising hub for biotechnology companies in recent years. Ms Szeto assured the participants that this trend is set to continue.
During a panel discussion, founders, business leaders and industry experts discussed about Hong Kong’s role as a launch pad for start-ups from Germany that aim to tap the Chinese and Asian markets, funding options and growth potential in the Greater Bay Area (GBA). Moderated by Dr Wing-hin Chung (InvestHK), Ms Karena Belin (WHub), Mr Till Ammelburg (German Entrepreneurship) and Mr Johannes Hack (DZ Bank AG) shared views about market entry opportunities for German start-ups in Hong Kong.
In close proximity to Mainland China and the centre of Asia, Hong Kong offers vast business opportunities for German start-ups that aim to tap into the GBA, as part of Mainland China and other Asian markets. Hong Kong’s pro-business policies, its business-friendly tax regime together with a huge talent pool and many support programmes launched by the Hong Kong Government are some reasons for Hong Kong’s appeal to innovators and entrepreneurs globally.
About HKETO Berlin
HKETO Berlin is the official representative of the Hong Kong Special Administrative Region Government in commercial relations and other economic and trade matters in Germany as well as Austria, the Czech Republic, Hungary, Poland, the Slovak Republic, Slovenia and Switzerland.
Contact
Stephanie Pall
Head, Public Relations
Hong Kong Economic and Trade Office, Berlin
Tel: +49 (0) 30 22 66 77 24 2
Fax: +49 (0) 30 22 66 77 28 8
E-mail: stephanie_pall@hketoberlin.gov.hk
HKETO Berlin
12 May 2023
Ends