Published: 14 Aug 2019
Category: Startups , Entrepreneur

Resources to Get Your Startup Funded in Hong Kong

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Hong Kong is one of the best places in East Asia for startup companies. It is also one of the most competitive markets in the world. This means you will need to prove to investors that your product and your business are the real deal before you get access to funds.

There are three main ways of financing an entrepreneur in Hong Kong can count on. These include government programs, various accelerator and incubator platforms, and crowdfunding platforms. Let’s take a closer look at all three.
 

Government Programs

If you’re looking for startup funding, Hong Kong government programs are probably your best bet. There are many different programs aimed at different types of startups, so you’ll need to choose wisely.

Hong Kong government has invested a lot in the entrepreneur community in recent years in hopes of building a large and healthy ecosystem and make Hong Kong the number one place for startups in Asia. You can find all the info on Hong Kong government’s official site. Here are a few words on some prominent programs.
 

Innovation and Technology Fund

This fund is oriented towards improving the quality of life in Hong Kong through technology. If your startup fits the bill, you should consider applying. Startups looking to address the needs and issues of certain community groups are also welcome. There is no application fee and you can submit multiple applications.
 

Social Innovation and Entrepreneurship Development Fund

This fund provides financing to organizations and startups that aim to alleviate poverty and eradicate social exclusion through the use of innovative solutions. There are several intermediaries through which you can obtain funding with each focusing on a specific set of objectives and themes.
 

SME Export Marketing Fund

This fund is focused on companies trying to expand and offer their products and services beyond Hong Kong. It is mainly oriented towards SMEs and startups. The maximum amount you can obtain is $200,000 and, similar to the Innovation and Technology Fund, you can apply multiple times. For the full list of requirements, you can visit Hong Kong government’s official site.
 

Accelerators and Incubators

Those looking to start business in Hong Kong can also count on the help of various accelerator and incubator programs. An accelerator is designed to support the growth and scaling of a startup, while a startup incubator focuses on developing innovative ideas. 

The main advantages of these types of programs include getting a wide support network and mentorship from industry experts and professionals. Here are some of the best accelerators and incubators around.
 

Cyberport Smart Space

Cyberport Smart Space should be your go-to place if you’re looking to expand your startup’s market into Mainland China and other markets around Asia. This is one of Hong Kong’s primary incubation programs.

Thus far, around 900 companies from the tech department have successfully applied for Cyberport’s programs. Cyberport’s focus is on startups that are mainly into AI, FinTech, and e-commerce. Startups developing IoT wearables are welcome, as well.
 

SuperCharger

This is an accelerator program mainly oriented towards fintech startups. The unique thing about SuperCharger is that it accepts applications from both early-stage and well-developed startups. They offer exceptional mentorship, expert advice, and invaluable market resources.
 

Ablaze

Ablaze is an accelerator program. It was founded by the New Media Group and Ablaze Idea Lab. If your startup is in the beauty, fashion, or travelling industries, this is the accelerator for you. Ablaze also supports new restaurants and parenting-oriented startups. This accelerator offers outstanding help in marketing and online media segments.
 

Betatron

Betatron, unlike the previously mentioned incubator and accelerator platforms, doesn’t have a preferred niche or industry. Instead, the platform aims to empower all promising startups that apply. It provides tools for improving their business models and helps them grow over a 90-day period.
 

Crowdfunding Platforms

Crowdfunding is yet another way to gather money for your startup in Hong Kong. This way, you can get access to a wide pool of potential investors, as well as test out your latest business idea. You can also get invaluable feedback from your potential customers that can help you refine your service or product. Here are some of the best Crowdfunding options for Hong Kong-based startups.
 

SparkRaise

SparkRaise is all about social consciousness and empowerment. It aims to motivate people to get together and share their entrepreneurial skills and philanthropic interests. The platform is open for non-profit organizations, startups, and entrepreneurs who aim to change the world for the better through their endeavour.
 

FringeBacker

FringeBacker is a platform with a strong entrepreneur community spirit that provides a wide range of funding options. The platform mainly accepts applications in categories such as creative arts, charity, and various innovative industries.
 

NextChapter

This platform is focused on empowering female entrepreneurs and female-led startups. What’s unique about NextChapter is that it has a smart system of rewards for the accepted projects. The platform also provides coaching and mentorship to female entrepreneurs and accepts projects from all around Asia, not just Hong Kong.
 

Fund Your Startup

Starting a business from scratch is never easy, and often the biggest obstacle is money. Luckily, Hong Kong-based entrepreneurs can gain access to a host of funding programs, models, and platforms. These cater to a wide range of industries and accept startups in various stages of development. If you need funding for your next endeavour in Hong Kong, at least one of these programs is sure to be a great fit for your organisation.

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