Tengyun Hong Kong Tech Innovation Cluster Accelerator settles in Cyberport, Sun Dong: Hong Kong start-ups reached 4,700 last year.

The opening ceremony of the Tengyun Hong Kong Science and Technology Innovation Cluster Accelerator was held today (21st) at Cyberport. Speaking at the event, Hong Kong's Secretary for Innovation and Technology, Sun Dong, said that with the strong support of the SAR government, the number of startups in Hong Kong reached 4,700 last year, demonstrating the increasingly thriving ecosystem of innovation and technology startups in Hong Kong. The establishment and operation of the Tengyun Hong Kong Science and Technology Innovation Cluster Accelerator respond to the SAR government's policy direction to support startups. Sun Dong expressed his thanks to entrepreneurs, investment bankers, and others for establishing the Tengyun accelerator. Together with over 70 excellent startup companies and investment institutions focusing on areas such as artificial intelligence, biomedicine, medical devices, and energy technology, they have come to Hong Kong to develop and take advantage of Cyberport's strengths to provide comprehensive services for the companies located there, assisting them in establishing a presence, layout, and development in Hong Kong. He mentioned that in addition to the enhanced version of the innovation and technology venture fund that the SAR government is about to launch, as well as the new innovation and technology industry guidance fund to be launched next year, he believes that this will create more favorable conditions for the development of Hong Kong's innovation and technology enterprises. Sun Dong stated that Hong Kong is a two-way channel for the country's "introduction and going global" strategy, and it is also the preferred platform for mainland companies to enter overseas markets. The SAR government is actively developing innovation and technology, different from the traditional model where companies need to individually establish or introduce. The establishment of accelerators can introduce support for a large number of startups at once and provide more precise and systematic support, generating a clustering effect and reflecting Hong Kong's support for the improvement of both quality and quantity of startup development. He welcomed the introduction of many excellent startup companies and investment institutions by the Tengyun accelerator to Hong Kong for development, and he also hoped that in the near future, more excellent accelerator bases will be established in Hong Kong, jointly cultivating Hong Kong's innovation and technology ecosystem.