Red Envelope: The Startup Ecosystem in Hong Kong
Hong Kong’s startup ecosystem is one of the fastest growing in the world with over 3000 startups. It has a diverse mix of sectors, from fintech and ecommerce to advertising, software, and B2B, as well as a diverse mix of entrepreneurs, with 45 percent of them identifying as female and 35 percent of founders from overseas.
The Greater Bay Area initiative, with the goal of developing an ecosystem to rival that in San Francisco and New York, is also significant. With 70 million people between the regions of Guangdong, Hong Kong, and Macau, that combined population is more than the whole of the UK and twice that of Canada, and accounts for 12 percent of China’s GDP.
In today's episode of Red Envelope, Theodora Lau talks to Karena Belin, CEO and Co-Founder of WHub. They talk about the hot trends in HK innovation ecosystem. HK has had several key headline grabbing updates off late (pun intended).
The Faster Payments System (FPS) launched by the Hong Kong Monetary Authority (HKMA) marks a significant milestone in payments. AngelHub launched Hong Kong's first regulated startup investment platform for professional investors to invest in vetted startups from around the world. And we have seen the big Chinese Fintechs get virtual banking licenses from the HKMA.
These and more updates from HK - Listen in!!