Hong Kong Startup Council
Hong Kong used to be the world's leading manufacturing hub in the 1960s and 1970s, pumping out toys, artificial flowers, plastics and clothes.
Starting from mid 70s, Hong Kong manufacturers started moving part of its production chain to China thanks to its low cost and ample labour supply. Manufacturing in the PRD region brought enormous development opportunities to Hong Kong enterprises, taking off Hong Kong’s industries and contributing to the whole economy. The Guangdong-Hong Kong “Front Shop, Back Factory” operation mode was also formed at that time.
Since 2006, the business operation environment in the PRD has experienced gradual changes –shortage of Mainland labour and land resources and policy adjustments in various industries, import and export, labour, and exchange rate, etc. The 2008 world financial crisis further gave Hong Kong enterprises a hard impact. Some of them could not adapt to the changes and had to relocate or close their businesses.
To keep up with the latest development, Hong Kong manufacturers have to integrate robotics, Internet of Things and other technologies into the production process, thereby helping to promote high value-added products and development of new industries.
At present, the biggest number of Hong Kong startups is found in the information, computer and technology sectors, accounting for 19 per cent of the total; followed by the hardware sector (including Internet of Things, modelling products and wearables), at 14 per cent. e-Commerce, supply chain management and professional or consulting services account for 10 per cent each.
These are important technology industries to boost Hong Kong's development in re-industrialisation and Industry 4.0. With the Startup Council established, the FHKI will help industries integrate robotics, Internet of Things and other technologies into the production process, thereby helping to promote high value-added products and development of new industries. In addition, these industries will help drive e-commerce in Hong Kong, further expanding overseas markets for Hong Kong enterprises.
Hong Kong Startup Council, with the support from FHKI, aims to connect the startup community with different stakeholders:
FHKI Members (industrialists);
A pool of expertise in different areas; and