Cyberport Introduces New Startup Initiatives
Cyberport introduces new initiatives to foster growth of digital technology ecosystem in Hong Kong and beyond.
Hong Kong Cyberport Management Company Limited (Cyberport) is determined to strengthen its support for start-ups at different stages. In 2016, Cyberport will introduce the Cyberport Macro Fund, increase the quota of the Cyberport Incubation Programme by two-fold and expand the total area of Smart-Space by 50%. Cyberport will also continue to accelerate growth of the technology and start-up ecosystem, through inspiring the next generation of technology talents, nurturing entrepreneurial spirit and helping start-ups to leap on global ambition.
As a catalyst for Hong Kong’s innovation, Cyberport has been realising its public mission through a variety of programmes and strategic initiatives since 2010:
1. Inspiring the next generation:
- As of 31 January 2016, over 13,000 youth have participated in a series of technology-related training sessions, workshops and competitions organised by Cyberport.
- Participants in the Cyberport Digital Tech Internship Programmes have increased by over 200% since 2011, covering Hong Kong, Shanghai, Silicon Valley and Fuzhou.
2. Nurturing the entrepreneurial spirit:
- The accumulated number of Cyberport Creative Micro Fund (CCMF) grantees has been increasing year after year from 10 in 2010 to over 230 as of January 2016.
- The accumulated number of Cyberport incubatees has increased from just over 120 in 2010 to exceeding 320 to date.
3. Leaping on global ambition:
- Funding raised by Cyberport start-ups recorded a 321% year-on-year increase to HK$198 million in the 2014/15 fiscal year.
- Accumulated funding raised by Cyberport start-ups has exceeded HK$554 million as of January 2016.
Mr Herman Lam, CEO of Cyberport, introduced the upcoming plans of Cyberport that Cyberport will continue to accelerate growth of the technology and start-up ecosystem, through inspiring the next generation of technology talents, nurturing entrepreneurial spirit and helping start-ups to leap on global ambition.
“Cyberport is committed to fostering the growth of digital technology start-ups in Hong Kong and the Asia-Pacific Region. We will continue to provide a comprehensive one-stop platform that supports every major milestone of digital technology talents and start-ups,” said Mr Herman Lam, CEO of Cyberport. “In 2016, we will increase the quota of our incubation scheme by two-fold and will allocate HK$200 million to launch the Cyberport Macro Fund for start-ups. We will also enhance facilities catered for start-ups, including the increase of our co-working space, Smart-Space, by 50% to over 120,000 square feet within next year. The new Cyberport logo introduced today represents our endeavour to make digital technology relevant to the community, and our commitment to bringing innovations to life.”
The newly introduced Cyberport Macro Fund will cater for mature start-ups that have gone through the seeding, incubation and the accelerating journey.
Mr Paul Chow, Chairman of Cyberport, shared Cyberport’s remarkable achievements in enhancing Hong Kong’s start-up and digital technology sectors over the past years and thoughts about the future.
Moving forward, Cyberport will continue to leverage its strength and experience in expediting the development of technology industry to foster a growth platform that provides a full range of support for young technology talents, entrepreneurs and various stages of start-ups.