German Start-ups Benefit from Hong Kong Collaboration
- Hong Kong has developed a vibrant start-up cluster
- 340 German companies already have a presence in the city
- Business-friendly environment, dynamic digital economy attract start-ups
- Hong Kong is a stepping stone for expansion into the mainland Chinese market
28 July 2016 – Hong Kong is regarded as an important business hub for European companies aiming to access the dynamic Chinese mainland and Asian markets. A particularly large number of German start-up firms have been moving to the Asian metropolis in the Pearl River Delta region in order to convert their ideas into marketable products and find experienced business partners. Hong Kong has established a reputation as an important cluster for start-ups, Fintech and medium-sized companies.
Hong Kong – first port of call
“Within Asia, Hong Kong has become the first port of call for start-ups and medium-sized companies that are looking for fresh impetus for their products and services,” said Raymond Yip, Deputy Executive Director of the Hong Kong Trade Development Council (HKTDC). Established in 1966, the HKTDC has 50 years of experience in connecting international companies with the best partners. “Under the ‘one country, two systems’ principle for Hong Kong’s reunification with China in 1997, our city continues to provide an excellent business environment for European companies that are looking to expand into the Asian market. If we look at the number of German companies alone, there are now 340 firms that have established operations here in Hong Kong,” said Mr Yip in reference to the latest official statistics.
Hong Kong’s technological infrastructure has expanded continuously over the past few years. Special incubation programmes give Western firms access to important resources such as office space, management expertise, funds, marketing know-how and technical support. They also provide a wide selection of partners that can offer support to start-up companies as they expand their business and market presence in Asia. The Youth Development Fund, which is due to be established this year, will provide assistance to young entrepreneurs.
Business hub of regional and global importance
Established in 2012, the German start-up firm Sereene opened its headquarters in Hong Kong at the beginning of 2016 in a business park called Cyberport. The company’s founder and CEO Oliver Muhr was attracted to Hong Kong by a start-up accelerator. The software developed by the company helps technology firms analyse data from different origins and make their IT systems more efficient. The firm’s German clients include some blue chip companies. “We were on the lookout for a business hub that played an important role both regionally and globally. Based in Cyberport, we are now part of a creative digital community of over 400 companies,” explained Mr Muhr. The company now plans to use Hong Kong as a stepping stone to expand into other Asian markets.
“Hong Kong is committed to promoting innovation. For example, the city has recognised that the future belongs to people who integrate the Internet of Things (IoT) into their strategies and business models from an early stage,” said Professor Royce Yuen from MaLogic, a highly regarded brand expert in Hong Kong. “By engaging in intensive cooperation with experienced partners, start-up firms are able to focus exclusively on their business, allowing them to speed up their market entry.”
Mega promotion to spotlight collaboration opportunities for German firms
In September, the HKTDC will stage its mega business promotion called “Think Asia, Think Hong Kong” (TATHK) in major cities across Germany. On 28 and 29 September, companies and young entrepreneurs in Frankfurt, Düsseldorf, Hamburg and Munich will gain an exclusive insight into what Hong Kong has to offer for German companies as well as the city’s dynamic cooperative partnerships. Thematic seminars will address the most important challenges facing companies that are looking to expand globally, and will cover a variety of issues from finance and technological development to logistics and sales. A technology business delegation from Hong Kong will attend the event in Munich on 29 September where one-on-one business matching meetings will be arranged.
“Hong Kong is an ideal starting point for Western firms looking to access Asian markets in the Chinese mainland and beyond,” said Mr Yip. “By hosting the TATHK events, we hope to give German companies new perspectives for their expansion plans and demonstrate how intensive the cooperation with experienced partners in Hong Kong can be.”
For more information about “Think Asia, Think Hong Kong” and registration details, please visit: http://www.thinkasiathinkhk.com/2016.
Media contact in Germany:
Christiane Koesling
Hong Kong Trade Development Council (HKTDC)
Kreuzerhohl 5-7
60439 Frankfurt, Germany
Tel: 069 - 9 57 72 - 161
Fax: 069 - 9 57 72 - 200
Email:christiane.koesling@hktdc.org
Media Enquiries in Hong Kong:
Please contact the HKTDC's Communication and Public Affairs Department:
Nick Waters Tel: (852) 2584 4517 Email: nick.waters@hktdc.org
Information on the internet: http://www.hktdc.com/
Business contacts: http://businessmatching.hktdc.com
Youtube: http://www.youtube.com/user/HKTDC
LinkedIn: http://linkd.in/1uVLtDv
About the HKTDC
The Hong Kong Trade Development Council (HKTDC) celebrates its 50th anniversary this year. The HKTDC is the international marketing arm for Hong Kong-based traders, manufacturers and services providers. With more than 40 offices globally, including 13 on the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China and throughout Asia. The HKTDC also organises international exhibitions, conferences and business missions to provide companies, particularly SMEs, with business opportunities on the mainland and in overseas markets, while providing information via trade publications, research reports and digital channels including the media room. For more information, please visit: www.hktdc.com/aboutus.