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

Hong Kong is ramping up its efforts to foster its technology ecosystem and generate more unicorns, according to Terry Wong Ping-sau, CEO of the Hong Kong Science and Technology Parks Corporation (HKSTP). The city's significant fundraising activities and robust financial infrastructure have attracted increased investor interest in its tech scene compared to a decade ago.

Wong highlighted that traditional enterprises and family offices are particularly enthusiastic, driven by the need to modernize Hong Kong family businesses. Despite Hong Kong's fundraising prowess, with about HK$285.8 billion raised through new listings last year, there is still room for improvement in early-stage financing.

Established in 2001 as a statutory body, HKSTP connects stakeholders, nurtures talent, and provides facilities for research and development. The corporation has nurtured more than a dozen unicorns and 17 initial public offerings through various funding channels, including a corporate venture fund that has raised over HK$170 billion.

In April 2025, HKSTP launched the Co-Acceleration Programme, a public-private partnership fund that attracted nine corporate limited partners. This initiative aims to attract overseas I&T companies to Hong Kong and establish operations at the Hong Kong Science Park.

Wong expressed confidence in Hong Kong's ability to become a leading hub for high-quality, large-scale tech enterprises in the next eight to 10 years. A recent study by HKSTP and CB Insights found that Hong Kong companies exhibited the strongest growth momentum among Asian markets. Furthermore, capital is increasingly focusing on larger bets, with overall tech funding in Asia rising by 157% year on year in the first half of 2026, while the number of deals dropped by 22%.