The two-day Global Unicorn Summit opened at the Hong Kong Convention and Exhibition Centre in Wan Chai on August 24, with Chief Executive John Lee presenting Hong Kong as the “strongest springboard” for mainland startups and unicorn companies seeking international markets. He also described the city as a strategic base for developing global supply chains.
Lee said Hong Kong could serve as a gateway for overseas technology and innovation companies seeking to explore the mainland market and wider opportunities in China. He also invited scientists from around the world to bring breakthrough research to the city.
The summit, organised by a local media group, brought together more than 250 unicorn companies from mainland China and overseas, as well as more than 100 startups and international capital institutions.
Lee said Hong Kong had nurtured around 20 local unicorn companies. Reports differed on whether the figure covered the past decade or more than a decade. The city’s support system includes Hong Kong Science Park and Cyberport, which provide incubation programmes, matching funds, marketing support, expansion opportunities and infrastructure, according to RTHK.
Representatives of mainland robotics company Galbot and Tengyun Accelerator also described benefits from operating in Hong Kong. Galbot, which became a unicorn four years after its founding and established a presence in Hong Kong more than a year ago, said the city was a useful base for working with customers in the Middle East, Europe, the United States and Japan. Tengyun said Hong Kong’s capital, talent and internationalisation services were useful to mainland technology companies seeking to expand overseas.
Innovation, Technology and Industry Secretary Sun Dong said the government would continue supporting local companies through research assistance, funding and industrial-park facilities. He set a target of cultivating 30 unicorn companies cumulatively by 2032.
The summit was scheduled to conclude on August 25, after forums and planned visits by mainland companies to Cyberport and Hong Kong Science Park. The supplied reports do not establish whether any business or investment agreements resulted from the event.