RECORD HIGH STARTUPS
Uncle2 is among a surge of new businesses shaping Hong Kong’s entrepreneurship landscape.
Last year, the city saw 4,694 new startups, up 40 per cent from about 3,400 in 2020.
These startups employed 17,651 workers, a 65 per cent jump from four years ago, according to a report by InvestHK, a government agency that helps businesses set up in Hong Kong.
Authorities have touted the city’s strategic location as a gateway to Asia, particularly mainland China, for the record number of startups.
Other key attractions for investors included a low tax rate, accessibility to funding and an available pool of multilingual talent, the report said.
The top sectors with new ventures were mostly digital – financial technology, information technology and e-commerce. There has also been growth in the health and medical space, as well as the sustainability sector.
Hong Kong locals made up 72 per cent of the startup founders. Among foreign founders, 40 per cent were from mainland China, followed by the United Kingdom, United States, France and Australia.
Source: CNA
