Hong Kong’s Advantages over Singapore in the Startup Game

MIT

Having lived both in Hong Kong and Singapore, perhaps this is one of the most often asked question: Which is better, Hong Kong or Singapore? You’ll find loads of blogs and banter, even charts and lists drilling down to which city is better. To me, it’s really whether you like durians or stinky tofu.

When we were working on the Oddup Hong Kong Ecosystem Report and Oddup Singapore Ecosystem Report, this question came up again. So which is better? Hong Kong or Singapore? So this is how it all began. We mulled and stewed over it, and drew out the entire picture of the startup ecosystems in Hong Kong and Singapore the way we saw it. The opportunities, the deals, the exits, the who’s who, the entrepreneurs, the investors, the regulators, and of course – the coffee.

When looking at the ecosystem, we need to look at without any bias.

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Report: Hong Kong is 5th Fastest Growing Startup Ecosystem; Ranks 25th in the World

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“Hong Kong is fully capable of successfully developing a strong startup ecosystem. Its number one priority is to help its entrepreneurs catch up to global knowhow.”

To close out last week’s StartMeUp Festival, Compass held an event to summarise their Global Startup Ecosystem report and specifically to share the insight they found out about Hong Kong.

Hong Kong is the 5th fastest growing startup ecosystem and ranks the 25th in the world, according to the Global Startup Ecosystem Ranking 2015 study released by the San Francisco based research firm Compass.

We’ve reprinted the summary below and you can download the final perspective as well.

We’d love to hear your thoughts in the comments.

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From Canada to Hong Kong: A Founder’s View of Hong Kong’s Startup Community

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With an average of eight unicorns born each year (companies worth over $1B) throughout each of the past 10 years, it’s no surprise that startups are becoming much more common as entrepreneurs strive to create the next Facebook, Uber or Xiaomi. This increased interest in entrepreneurship has sparked the creation of startup communities around the world, and Hong Kong might be next.

Throughout the past year and a half, I have become fully immersed in the vibrant startup community in Waterloo. With a population of only about 550,000, more than 1,850 startups have been founded in Waterloo in the past 5 years alone making it the most dense startup region after Silicon Valley. More than $650 million in investment has been raised by local companies including VidYard, Thalmic Labs, and Aeryon Labs, and we now have our own unicorn, Kik Messenger.

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