Hong Kong is making waves today with the potential it has to become the next big thing in the world of technology. 90% of population in Hong kong has access to the internet, average internet speed is 55 mbps and it is not censored. It takes just 2 days to start new business and open bank account and hence it is not surprising that between 2009 - 2012, startup memberships have grown from 6 to 5000+.
Hong kong’s co-working space has also increased rapidly in the past twelve months. New businesses launched in 2011 amount upto 150,000. 18 Chinese tech companies have come out of Wall Street since 2010 to join the stock exchange market of Hong Kong.But, what could possibly hold back Hong Kong are the property prices, confidence of investors, less investment on research and innovation.
However, the government of Hong Kong is doing its best by promoting it as a world class destination for business visitors and also introducing IVS known as Individual Visiting Scheme. With Silicon Harbour’s entrepreneurship and government’s growing support, Hong Kong could well become the next tech hub of China.