Hong Kong's Invest Department (InvestHK) which is established by the Government in order to attract foreign direct investment and support overseas and Mainland businesses to set up or expand in Hong Kong, has announced that it has set up a dedicated team to assist start-ups.
Simon Galpin, the director of Investment Promotion, stated: "The setting up of the new start-up team marks a milestone for InvestHK in its outreach to founders and the local and overseas start-up communities. I am hoping that the start-up team will further embed Hong Kong's position as a leading destination and hub for start-ups and attract entrepreneurs and founders to set up their businesses in the city."
The team comprises two executives with extensive links and experience in the local and overseas start-up communities are. They will establish strong networks with key start-up community stakeholders in Hong Kong and help connect budding entrepreneurs with InvestHK's sector and overseas teams.
"The intention is to leverage the Department's existing strengths and resources [for multinationals] to assist start-ups and help Hong Kong's start-up communities to continue thriving," Galpin added.
InvestHK has been actively promoting Hong Kong's role as the preferredregional start-up hub, and has seen steady growth in the number of start-up businesses in its portfolio since 2012, rising from about 10% to 17.5% percent of its total projects in the first half of 2014.
During the first half of 2014, the Department assisted 39 start-ups to set-up in Hong Kong: 9 were from France, 6 from the United States, 5 from the United Kingdom, and 4 from Germany. The start-ups were in the multimedia, asset management, and alcoholic beverage industries.
Source:
As reported by Mary Swire, Lowtax.net, Hong Kong, 9.10.2014
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