The Director-General of the Hong Kong Economic and Trade Office, London, Ms Priscilla To spoke on 20th June at a business seminar held by Invest Hong Kong in partnership with the Institute of Directors, City of London branch. The event was part of London Technology Week, and supported by Tech London Advocates.
Hong Kong offers many strengths and advantages as a technology 'super-connector' for Asia, Ms To said, explaining that Hong Kong is well positioned as an innovation and technology hub for companies looking to tap into the Asian market. "Entrepreneurs from around the world and renowned research and technology institutes choose Hong Kong as a regional base for developing their ideas and innovations, making use of facilities just across the border to develop prototypes over a few days, and Hong Kong's connectivity and network, to tap into the Mainland and Asia markets," she said.
"Hong Kong is at the heart of Asia and at the doorstep of the strong production base in south China as well as the huge Mainland consumer markets. Internationally, Hong Kong's fixed broadband penetration rate and average broadband speed are among the highest in the world. Hong Kong has an average peak connection speed of 94.8Mbps, which is the highest in the world.
Ms To also highlighted the booming start-up sector in Hong Kong. "We are developing fast into one of the world's most popular start-up hubs. Our start-ups have increased by nearly 50% from 2014 to over 1,500 now, and many of these are actually technology or information and communications technology start-ups," she said.
Ms To also mentioned the initiatives put in place by the Hong Kong Government to promote innovation and technology development. In this year's budget, the Government allocated an unprecedented ₤1.6bn to promote innovation and technology development.
"Hong Kong has what it takes to play a key role in Asia for innovation and technology," Ms To added. "Using the seminar's theme today, Hong Kong is the technology 'super-connector' and we welcome the United Kingdom and worldwide players to join us to embrace the new economic order."
These comments were echoed by the Founder of Tech London Advocates, Mr Russ Shaw, who said Hong Kong would be a leading technology hub that allows start-ups to flourish. In addition the Head of Level39, Mr Ben Brabyn, Europe's largest technology accelerator, described the increased connectivity between London and Hong Kong as a collaborative effort that would encourage the technology sector.
The audience also heard case studies on high-tech companies who had set up or started up in Hong Kong from Managing Director of data analytics company fifty-five, Mr Rob Fenton, and Chief Executive Officer of advanced safety testing agency Vitargent International Holdings Limited, Mr Jimmy Tao.