Builders Conference / Philly Tech Week

Want to expand your tech business into Asia? Consider Hong Kong

Experts on Hong Kong's tech ecosystem share how their orgs can help U.S. companies plug into the Asian innovation economy.

Hong Kong at night. (Photo by Flickr user Rémi Lanvin, used via a Creative Commons license; image has been cropped)

The 2020 Global Innovation Index report ranks Hong Kong as #3 among innovation economies in Southeast and East Asia. That means it’s an integral market to break into for entrepreneurs trying to make a splash on the global stage.

Experts from the AI and biomedical field gave insight on how during an Introduced by conference session from Invest Hong Kong during Philly Tech Week 2021 presented by Comcast.

When breaking into a new international market, it helps to have a soft landing — something the Maryland Department of Commerce, for instance, knows well, with the recent launch of a new incubator program specifically for foreign companies.

Similarly, Dr. Weng-Li Yoon is the associate director of the biomedical technology cluster of Hong Kong Science and Technology Parks (HKSTP), a research and development hub. HKSTP boasts government support with 10 billion Hong Kong dollars allocated to support its tenants, Yoon said. It can also help companies navigate the vibrant Asian tech ecosystem.

The org “doesn’t really see ourselves as a landlord that is just leasing out lab space,” Yoon said. “We see ourselves as your partners to help you de-risk and facilitate R&D.”

Hong Kong’s key building blocks to support innovation and technology development. (Screenshot)

Dr. Tao Yu, director of big data analytics at Hong Kong Applied Science and Technology Research Institute, explained how his org can help companies navigate the financial systems of the Chinese market, including with the help of a streamlined regulatory compliance system.

“Our mission is to nurture Hong Kong’s tech talents,” said Yu, “and make Hong Kong more intelligent, connected and trustworthy.”

Check out their full presentations for more on how to get your company plugged into the Asian tech market:

Donte Kirby is a 2020-2022 corps member for Report for America, an initiative of The Groundtruth Project that pairs young journalists with local newsrooms. This position is supported by the Robert W. Deutsch Foundation.

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