HK$10m up for grabs as new council aims to give start-ups in Hong Kong a helping hand
New Hong Kong Startup Council launches programme where companies are shown the ropes by industry experts, and stand a chance to win a grant
A group of industrialists and entrepreneurs have pledged their support for start-ups by creating a HK$10 million investment fund as well as networking opportunities with the city’s elite.
Established by the Federation of Hong Kong Industries, the Hong Kong Startup Council would act as a platform for up-and-coming companies to engage investors, while receiving assistance on aspects ranging from bookkeeping and logistics to patent registration.
The initiative is in line with Financial Secretary John Tsang Chun-wah’s budget this year, where he announced the establishment of a HK$2 billion innovation and technology matching fund to boost support for technology start-ups.
But council chairman Jack Yeung Chung-kit said what they offered was not just monetary support, but a network of experts to give start-ups a shortcut to getting into their targeted industries.
“The [Federation of Hong Kong Industries] represents 32 industry groups, which means we know people from everywhere,” he said.