Hong Kong is consistently ranked one of the most business-friendly places in the world. It currently scores highest on the Heritage Foundation’s Ease of Doing Business Index. And the startup scene has gotten to the point of competing with anywhere else in the world. In a recent article in Forbes Magazine ("Hong Kong’s Startup Scene Grows Up"), the author describes some of the recent activity there that proves it to be a startup force.
The HK government created a program called “StartmeupHK” and announced a HK$2 billion Innovation and Technology Venture Fund. Alibaba has inserted $130M into its HK investment program for startups that build on its platforms. The author describes the sheer proliferation of startups, co-work spaces and accelerators as evidence that will keep angel investors, venture capitalists and wannabes flocking to HK seeking startup fame. Ambi Labs has a story that will become more and more common as the Sheung Wan “hacker space” continues to develop and thrive.
Ideal climate for digital startups in Hong Kong Lee sees Hong Kong as an ideal base for digital startups like Ambi Labs. While the city has its downsides -- high rents being among the biggest -- young professionals continue to be attracted by its low taxes and quality lifestyle, ensuring a healthy supply of talent. In addition, as an affluent, tech-savvy -- and hot -- place, Hong Kong is the perfect test bed for Ambi Labs’ flagship product. The city is also full of early adopters, since people in Hong Kong “are risk takers; they’re learning to follow their passions and dreams,” Lee notes. Lee also credits the government for being generally supportive of the start-up culture.