Hong Kong’s 2019 Budget Allocates Big Budget to Startups

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Thanks Paul Chan! For the first time since we started StartupsHK, the Hong Kong government is really coming up with the cash to support our ecosystem.

Hong Kong Financial Secretary Paul Chan delivered his third Budget Speech yesterday with a raft of new monetary sweeteners aimed at promoting the city’s innovation and technology development. We refuse to call it “I.T.” – lets just call it “tech!”

$5.5 billion for the development of Cyberport 5 to accommodate more technology companies and startups. The expansion project is expected to provide about 66,000 sqm of floor area, and include facilities such as offices, co-working space, conference venues and data service platforms.

The budget raises the maximum annual funding under the Technology Start-up Support Scheme for Universities from the existing HK$4 million to HK$8 million—for each university—starting from 2019-20 to better nurture university start-ups.

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Looking to Raise Money for your Startup? Join the StartupsHK Investor Introductions Network

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As we build our network in Hong Kong and around the world we are looking to make meaningful introductions to startups at the point in their lives when they need to raise capital to build out their tech companies.

So we are now openly inviting founders to reach out to us for introductions – now, before everyone starts hitting the send button we are going to be very focused on what we are looking for:

  • Startups with traction. No “just an idea” phase companies.
  • We cover most of the popular verticals – we are out of our depth in some fields but we will keep you in the database.
  • This is not just for HK-based startups but any startup looking at Asia as a market.

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Klook and StartupsHK Offers ‘Welcome to Hong Kong’ Package for RISE Attendees: SIM Cards, WiFi and Airport Express Tickets!

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Next week, Hong Kong will usher in one of the biggest tech conferences for startups, welcoming over 15,000 attendees from 60+ countries all over the world.

Produced by the team behind Web Summit, Europe’s largest conference, RISE brings in speakers from the world’s biggest companies to share their stories and expertise over the course of three days – three days of networking, workshops, talks and mixers, to be exact.

This year, StartupsHK has partnered with Klook to give you an unforgettable and worry-free travel experience with conference packages exclusive to RISE attendees.

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