According to the British "Financial Times" reported on August 20, in the past two or three years, more and more foreign technology startups have flooded into Hong Kong, mainly driven by the two fastest growing emerging sectors of the Internet of Things and financial technology. Hong Kong is a great place to invest in these two areas.
Florian Simmendinger, the founder of a German technology company, last year set up a suitable engine for his company's smartphone-controlled wearable metronome, almost all over Europe, but still can't find him satisfied. Accessories. But after coming to Hong Kong in November last year, he immediately found an engine that could greatly improve his products in the Shenzhen market. "In Shenzhen, you can find almost any spare part you want. The engine I bought here solved my problem immediately." He said while showing the pulser for just $99.
Mr. Simmendinger is just one of the countless entrepreneurs who have entered Hong Kong and are involved in the Internet of Things. One of them is to rely on the geographical advantages of China's vast market and manufacturing base, and on the other hand, Hong Kong's more comprehensive legal supervision. System and lower tax policy.
As a model for attracting technology start-ups around the world, Shibuya has been imitated by countless countries and regions. Hong Kong is also pursuing this trend, hoping to gain a competitive edge in the technology sector when its tourism and luxury retail industries are under tremendous pressure. Tourism and luxury retailing, as the traditional pillar industries of Hong Kong, are experiencing a decline in income due to the reduction of mainland tourists in the anti-corruption campaign and stricter political environment advocated by Chinese President Xi Jinping.
The Hong Kong Government built the Hong Kong Science and Technology Park and the Cyberport around 2000 to build infrastructure and enhance its overall competitiveness for the Hong Kong technology industry. However, after more than a decade, Hong Kong has not done a very good job in the field of science and technology. The main reasons are the lack of venture capital, the size limit of the local market and the exclusion of risks in Hong Kong's financial culture.
However, this situation has changed in the last year or two, and entrepreneurs and investors around the world have gradually recognized Hong Kong's advantages in the two areas of the Internet of Things and financial technology. According to data from the Hong Kong Invest Hong Kong (InvestHK), Hong Kong's joint office space for startups has increased from three in 2010 to 40 now. Some large joint office spaces are operated by existing large companies, such as Singapore DBS and Swire, the controlling shareholder of Hong Kong's aviation giant Cathay Pacific, not only provide office space for startups, but also provide financing and advisory services.
David Lynch, DBC's China and Hong Kong technology director, said that Hong Kong, as one of the world's leading financial centers, undoubtedly provides an ideal location for start-ups looking to seek financial support in Asia and beyond. Of course, in the field of financial technology, Hong Kong faces competitors such as Singapore and London.
"But Hong Kong's competitive advantage in the Internet of Things is truly unique. Because of its proximity to Shenzhen, entrepreneurs can find the parts they need and quickly create product models. This is something that Singapore can't do." Venture Capital Angels Angel Chen, an investor at ValleyVest, said. David Chen is helping American technology company Hanson RoboTIcs move its headquarters from Texas to Hong Kong.
As the headquarters of China's technology giants Tencent and Huawei, Shenzhen has provided Hong Kong with tremendous support for technology and spare parts. At the same time, in Hong Kong, entrepreneurs will face more than just China, but a broader and open market.
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