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Why HK

Hong Kong – the best springboard for new ideas

^{Hong Kong is integral to Asia serving as the growth engine for the world’s economy in the next decade, and a strategic bridge for innovators looking to access the Mainland market to capitalise on opportunities brought by the National 14th Five-Year Plan and the Guangdong-Hong Kong-Macao Greater Bay Area development. Global scientists, innovators, entrepreneurs and investors will find an unrivalled base here to turn their ideas into real success, supported by the city’s solid R&D capabilities, extensive technological infrastructure, robust legal system and intellectual property protections, ample government funding and policy support for innovation and technology, and a world-class talent pool.}

Thrive where innovation prospers

Strong government support

_{Developing Hong Kong into an international I&T hub is high on the agenda of the HKSAR Government. Ample funding and policy support have been lined up to accelerate the city’s I&T development. The current-term government has committed more than HK$130 billion (US$16.7 billion)* in just four years since 2018 for I&T development, and spearheads the "InnoHK Research Clusters" initiative with more than HK$20 billion funding to further promote the development of life science and artificial intelligence and robotics, the strategic fields that Hong Kong enjoys clear advantages. Policy measures have been introduced to fast-track admission of overseas and Mainland R&D talent into Hong Kong, via programmes such as the Technology Talent Admission Scheme and the Research Talent Hub. The government vows strong ongoing support to realise the vision of fostering Hong Kong as an international I&T hub, as envisaged in China’s 14th Five-Year Plan.}

*Source: The Chief Executive’s 2021 Policy Address

A world-class innovation hub

_{The HKSAR Government is consolidating Hong Kong as a world-class innovation and technology hub with focuses on eight major areas: increasing resources for R&D, pooling technology talent, providing investment funding, providing I&T infrastructure, reviewing existing legislation and regulations, opening up government data, leading changes to procurement arrangements, and popularising science education. Hong Kong’s I&T hub appeal is confirmed by high regional and global rankings, including:}_{- Asia No.1 and World No. 2 in IMD World Digital Competitiveness Ranking 2021}_{- World No.5 and Asia-Pacific No.1 hub for development of new technology (Smart Centres Index by UK-based Z/Yen published in November 2021)}_{- Asia-Pacific No.2 and World No.3 for digital intelligence (Digital Intelligence Index 2020 compiled by US-based The Fletcher School at Tufts University and Mastercard)}_{- World's No.1 lowest taxed data centre market (Cushman & Wakefield: 2022 Global Data Center Market Comparison)}

*Source: Brand HK Fact Sheet (February 2022)

Ideally protected

_{Knowing your invention and ideas are protected is crucial. Here in Hong Kong, you can innovate in a fair business environment unhindered. Intellectual property is shielded and business is supported by a free flow of news and information enshrined in law.}

Grow where business shines

One of the world’s 5 freest and competitive economies*

Benefit from Hong Kong’s status as a global financial centre, with a highly liquid capital market, primed to attract funding from around the world. *Source: Hong Kong Themes: Hong Kong Rankings
(10 May 2021)

Hong Kong’s position as a premier global IPO hub reinforced*

Access the funds and support you need. In a very short time frame, Hong Kong has now also become the world’s second largest biotech fundraising hub. *Source: HKEX in 2020: Year in Review (17 Dec 2020)

High digital connectivity

Stay well connected with Hong Kong’s global communications hub, which is linked to 11 submarine cable systems and 11 satellites*. *Source: Hong Kong Themes: Asia’s world city (11 May 2021)

Competitive tax system

Receive a 300% tax deduction spent on an approved R&D activity spending*. *Source: Hong Kong Themes: Hong Kong’s Value Proposition (29 Mar 2021);InvestHK: Enhanced Tax Deduction for R&D Expenditures

Top-tier talent

Tap a wide pool of local, multilingual talent, cultivated from globally-renowned universities, which rank globally with 4 in World Top 50 and 3 in Top 10 in Asia.* *Source: Hong Kong Themes: Asia’s world city (11 May 2021)

Network where opportunities connect

A transport hub plugged into global markets

Hong Kong is just a five-hours’ flight away from half of the world’s population. It has one of the world’s busiest airports, connecting to more than 220 destinations by over 120 airlines.

Source: Hong Kong Themes: Asia’s World City (7 Sep 2020)

NETWORK WHERE OPPORTUNITIES CONNECT

Seizing the Greater Bay Area opportunities

The merge with the Greater Bay Area enables Hong Kong to further establish itself as an international innovation and technology hub and provides a catalyst for its diversification of the economy and of industries.

Source: Hong Kong Themes: Guangdong-Hong Kong-Macao Greater Bay Area (31 Dec 2020)
Source of location map: Greater Bay Area

Strategic locations global links to GBA, Asia and beyond

Hong Kong is poised to become the gateway to these opportunities

Unlock life-changing innovation opportunities in Hong Kong

Where every bright idea is nurtured to thrive.

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