Hong Kong Opens its doorways to African Tech Startups looking for to broaden to their market

 Hong Kong Particular Administrative Area (HKSAR) authorities company answerable for overseas direct funding, is setting up a headquarters in Hong Kong with the assistance of InvestHK, to make it simple for African Tech startups to arrange workplaces in Hong Kong.

HKSAR has a presence in 33 markets and is actively pursuing relationships with African enterprises, together with main banks, and metro improvement organizations.

In response to the Director-Common of Funding Promotion at InvestHK, Stephen Phillips, practically 4,000 new companies from around the globe at the moment are based mostly in Hong Kong, a 52% improve from 2018. Many of those companies are within the digital know-how sector and have taken benefit of Hong Kong’s specialised incubators, enterprise accelerators, and authorities funding schemes.

 Hong Kong is Asia’s main enterprise vacation spot and the gateway to Mainland China and Asia, it’s positioned inside 5 hours of journey by two-thirds of the world’s inhabitants, making it the right entry level to the area. With rising curiosity amongst African companies within the potential for enlargement into the Asian market, InvestHK has opened consultant workplaces in South Africa and Kenya.

Phillips said that Hong Kong has a neighborhood inhabitants of seven.5 million and 86 million from the Better Bay Space, thus making it a major marketplace for artwork, meals, and shopper items. It additionally presents important alternatives for sensible metropolis and web of issues know-how, electronics, and inexperienced applied sciences. “Hong Kong gives a path to development markets in Asia, with their demographic dividends, excessive price of tech adoption, and rising intra-Asian funding flows,” says Phillips. “After all, there’s additionally the financial beast — Mainland China — with alternatives to enter the market by JVs [joint ventures] and partnerships.”

With Hong Kong’s thriving tech ecosystem and InvestHK’s assist, African tech startups have an thrilling alternative to broaden into Asia and past.

Via Startmeup.hk, InvestHK helps modern and scalable start-ups arrange or broaden in Hong Kong.

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