Global accelerators and incubators set up offices in Hong Kong to bring startups to the city and cultivate local businesses

Start-up accelerators and incubators are setting up offices in Hong Kong as they aim to support dozens of global start-ups in partnership with the Hong Kong-Shenzhen Innovation and Technology Park (HSITP) to support the city’s goal of creating a to become an international tech giant. center.

ATLATL Innovation Center – a biomedical research accelerator headquartered in Shanghai with offices in Beijing, Shenzhen and Singapore – will invest HK$50 million (US$6.39 million) over the next three years to build a team in Hong Kong and at least twenty to attract start-ups from all over the world to the city.

“Hong Kong has some of the best universities in the world, and it has the scientific research capabilities and talent,” Joe Zhou, executive president of ATLATL, recently told the South China Morning Post.

“We hope to leverage the city’s existing advantages and provide it with a better platform to help these scientists release their innovations and make the transition to business smoother and easier.”

From left to right: Zhu Pengcheng, founder and CEO of ATLATL, Ayhan Isaacs, head of global growth at Founder Institute, Vincent Ma, CEO of HSITP, and Joe Zhou, executive president at ATLATL. Photo: Handout

Founder Institute, the world’s largest pre-seed startup accelerator and headquartered in California, also announced last week that it would open an office in Hong Kong and establish at least 100 global startups in the city annually, from sectors such as the life sector. science, big data and artificial intelligence.

The two companies are among more than 60 world-class enterprises and academic and research institutions from the Mainland, Hong Kong and around the world. entered into a partnership with the HSITP last Thursday.

Twenty-four of them have pledged to settle in the city or expand their operations there, bringing billions of dollars in investment and hundreds of jobs.

“There are a lot of people who understand the technical stuff… but they don’t understand the commercialization,” said Ayhan Isaacs, head of global growth at Founder Institute.

“One of the things we hope with the startup incubation and acceleration programs that we plan to do together with the HSITP or even independently is to bridge that gap,” he said. “The goal is to identify those strong founders, help develop their companies and put them on the path to success.”

Both companies use a 300 hectare space provided by the HSITP, located on the Lok Ma Chau Loop in the San Tin Technopoolwhich will serve as a working area for homegrown start-ups and foreign companies that have introduced the incubators in the city.

ATLATL plans to invite more scientific projects from research institutions in mainland China to set up branches in Hong Kong. It will also use its own venture capital funds to invest in local innovations by collaborating with local schools such as the Hong Kong University of Science and Technology, the Chinese University of Hong Kong and the University of Hong Kong, Zhou said.

The companies hope that startups from around the world can take advantage of Hong Kong’s unique position as a gateway to mainland China, and consider the city as a home for their businesses.

“Hong Kong has a lot of resources that you can’t get anywhere else, such as taxes, an easy environment for business and internationality,” Isaacs said. “I don’t think retaining talent will be a challenge as long as we make sure there are opportunities.”