Hong Kong aims to scale its tech ecosystem and nurture more unicorns: HKSTP CEO

Hong Kong is making significant strides in bolstering its technology ecosystem and fostering the growth of unicorns. Terry Wong Ping-sau, CEO of the Hong Kong Science and Technology Parks Corporation (HKSTP), highlighted the city's increasing appeal to technology start-ups and investors, particularly traditional enterprises and family offices seeking opportunities in the rapidly evolving innovation and technology (I&T) landscape.

Wong pointed out that while Hong Kong's fundraising prowess is already impressive, with the city helping firms raise about HK$285.8 billion (US$36.4 billion) via new listings last year, there is still room for improvement in early-stage financing. The HKSTP, a government-backed platform established in 2001, has been instrumental in connecting stakeholders, nurturing talent, and providing facilities for research and development.

With over a dozen unicorns and 17 initial public offerings to its name, the HKSTP aims to accelerate the commercialization of products and nurture more high-quality, large-scale tech enterprises over the next eight to 10 years, positioning Hong Kong as a golden era for producing top-tier tech enterprises.

Brief written by urgent.news from SCMP Business's own syndicated text. Machine-written — may contain errors; check the original before relying on it.