John Lee urges start-ups to seize opportunities through ‘golden gateway’ of Hong Kong Hong Kong’s leader has called on scientists, leading enterprises and investment institutions from around the world to seize opportunities in the city, describing it as a “golden gateway” for overseas companies to enter the mainland Chinese market and mainland unicorn firms to expand globally. Speaking at the first Global Unicorn Summit on Monday, Chief Executive John Lee Ka-chiu pointed to the city’s unique advantages as a “superconnector” and a “super value-adder” between the mainland and the world. “On the journey of innovation and entrepreneurship, Hong Kong not only serves as a testing ground for technological breakthroughs, but it will also become an accelerator for the transformation of research outcomes and a new world for global expansion,” he said at the opening of the summit at the Convention and Exhibition Centre in Wan Chai. Lee highlighted Hong Kong’s strengths, including its world-leading capital market, common-law system, low-tax business environment, global trade network and pool of top-tier international professional talent. He said these advantages made Hong Kong the premier springboard for mainland start-ups and unicorns – companies valued at more than US$1 billion – to enter international markets and build global supply chains. They also made the city the primary hub for top-tier overseas innovation and technology (I&T) companies to tap into the mainland market, he added. Lee said a record high of more than 11,000 mainland and overseas companies and over 5,200 start-ups were operating in Hong Kong as of last year. The city has also incubated 20 unicorns over the past decade. Lee said the development of the Greater Bay Area would draw on Hong Kong’s high-calibre talent and research strengths, together with the robust advanced manufacturing base in mainland cities, providing a solid foundation for I&T growth. The city leader also reiterated the government’s efforts to develop the sector by creating competitive I&T zones such as the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone and the San Tin Technopole in the Northern Metropolis. Under China’s 15th five-year plan, which guides national development from 2026 to 2030, Hong Kong is tasked with becoming a global innovation and talent hub, with the I&T sector expected to drive the city’s economic growth. Artificial intelligence and research transformation are among the priorities of Hong Kong’s own inaugural five-year blueprint, which the government plans to release next month. At the same event, Secretary for Innovation, Technology and Industry Sun Dong pledged to support the growth of start-ups by expanding “patient capital”. “Funding is a vital support that helps start-ups grow and cross the ‘valley of death’,” he said, referring to the critical phase between receiving initial seed capital and generating self-sustaining revenue. “The government is reforming its approach to investment in the I&T sector by integrating a capable government with an efficient market.” Sun added that the government would launch the Innovation and Technology Industry-Oriented Fund this year, allocating HK$10 billion (US$1.3 billion) in investment across five key areas, including life and health technology, artificial intelligence and robotics, and semiconductors and smart devices. The innovation chief also reasserted the government’s plan to accelerate the development of the Northern Metropolis, a megaproject that aims to transform 30,000 hectares (74,132 acres) of land along the mainland border into a technological hub, and provide stronger support for research transformation and start-up incubation. https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3365021/john-lee-urges-start-ups-seize-opportunities-through-golden-gateway-hong-kong?pgtype=live (ICE HONG KONG)

Fonte notizia: South China Morning Post