HK sees 10% growth in startups: Investment Promotion chief highlights success of effective initiatives

Hong Kong's startup ecosystem has experienced significant growth, with the number of startups in the city rising by 10% year-on-year in 2024, according to Director-General of Investment Promotion Ms. Lau Hai-suen.

Speaking in an interview today (Dec.) 28, Lau highlighted the impressive expansion of startups in sectors such as health technology and sustainable green technology, attributing this success to the effectiveness of government initiatives.

Latest statistics from InvestHK reveal that the number of startups in HK has reached 4,694, marking a 10% increase compared to 2023 and an approximately 40% surge from 2020. These startups have also significantly contributed to local employment, with total startup-related jobs reaching nearly 18,000 this year, up 7% year-on-year and 65% compared to 2020.

Lau also emphasized HK's unique advantages, including its robust financial infrastructure and strategic geographical location, which make the city an attractive hub for startups.

To further promote HK as a business-friendly destination, InvestHK will continue leveraging its 34 global offices to showcase the city's advantages to international investors and companies, encouraging them to establish or expand operations in HK. Additionally, the agency plans to strengthen its outreach in overseas markets, including those along the Belt and Road Initiative, to enhance its ability to attract foreign investment.

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