Discovering Hong Kong Startups

Discovering Hong Kong Startups

Held: 25th April 2017

Venue: MakerHive Hong Kong

Chapter: Hong Kong

Nick Zieber felt right at home speaking to the Hong Kong Hardware Massive crowd. The strategic partnerships manager at WHub, he focused on the startup environment in Hong Kong, and filled us in on everything you could need to know about being a startup in this international innovation powerhouse.

Key Takeaways

1. The Hong Kong Startup Ecosystem

The Hong Kong startup ecosystem is huge, with an estimated value of U.S. $3.2 billion. It's the fifth fastest growing ecosystem globally, and considered the third best business environment. Additionally, it's ninth overall in global competitiveness and ranked #25 as a worldwide startup hub. Most startups in Hong Kong are related to ICT or e-commerce. More than 5,000 individuals are employed by startups. 

2. Hong Kong Startup Founders

The founders of these startups in Hong Kong are most likely to be male, with 67-33 male-female ratio. The most popular age groups for entrepreneurship is 25-30 and 35-40. Most founders are Hong Kong locals or are from overseas or Mainland China. 

3. Startups in Hong Kong

There are quite a few startups to watch in Hong Kong, over a variety of industries. There are wearables, like Soundbrenner and Kiddo; e-commerce brands like carousel and Grana; logistics startups like floship, easy ship and lalamove; EdTech like Snapask; and gaming companies like animoca. There are even a few travel startup brands like Klook and Tink Labs. 

4. Funding for Startups in Hong Kong

Funding can be found through a variety of ways in Hong Kong. There's Digital Garage, which has a global reach and helps early stage companies rapidly go global. There's the New Frontier Group, which primarily supports young entrepreneurs. The Alibaba Entrepreneur Fund invests in startups like Shopline and GoGoVan. Innovatube is a startup incubator based in Hong Kong, with a focus on the Southeast Asian market. 

5. Accelerators in Hong Kong

There are several accelerators to choose from. Betatron is a four-month program, and the first non-vertical accelerator. Supercharger is a three-month program and is the first dedicated to FinTech companies. Readwritelabs is the world's first and leading accelerator focused on IoT. Brinc exists to support hardware founders. As you can see, there's a little bit of something for everyone, and quite a variety of leading accelerators with a specialization. 

6. Crowdfunding in Hong Kong

For crowdfunding, there's, of course, the old standby - Kickstarter - but also other options, like Kello, uHoo and Airhalo. 

Go Here to See Photos of the Event

About The Speaker

Nick Zieber

Nick Zieber

Strategic Partnerships Manager at WHub

Nick works closely with early stage ventures and new business units to build strong, effective, enduring teams. Before joining WHub, he worked as a technical recruiter for Xpand, a specialist firm focusing on technology & digital roles. Additionally he has been active in the startup community hosting meetups for Product Hunt.

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