How good are Hong Kong’s start-up incubators and accelerators?
Venture capital and mentorship are keys to helping fledgling companies take wing, but city's experience of providing both is limited. Swire’s blueprint programme and Cyberport have been helpful for some; others look overseas
Although research indicates nine out of 10 start-ups fail, a growing number of support services have been springing up in Hong Kong hoping to beat the odds in their search for new talent.
Obviously, start-ups are not created equally, but neither are the incubators and accelerators they rely on to make their dreams successful. Some entrepreneurs in the city have found more support and experience by looking farther afield.
Hongkongers Johnny Au Yeung Chun and David Tang Chun-yat moved to Taipei last month to join Appworks. The largest accelerator programme in Asia, its alumni include table booking app Eztable and e-commerce company Kuo Brothers, which is now listed on the island’s stock exchange. Although the duo were rejected by a Hong Kong incubator, their start-up GetMeCV, an online job matching platform, was selected to be part of Appworks’ latest cohort.
While incubators inject funds into start-ups hoping they will eventually “hatch” into successful businesses, accelerators take a more hands-on approach. They offer intensive courses that run for a fixed period, usually from three to six months, during which the teams are guided by experienced mentors.
