Hong Kong has firmly established itself as a premier global hub for cutting-edge innovation and technology (I&T) enterprises. With its advantages in research and development (R&D) capabilities, technology infrastructure, the legal system, intellectual property (IP) protections, its simple tax regime and business-friendly environments, Hong Kong offers unparalleled opportunities for AI tech companies and foreign investors looking to capitalise on the immense potential of the AI industry.
A Robust Funding Landscape for AI Enterprises
Hong Kong offers a diverse array of AI funding opportunities, from government grants or subsidies and private venture capital. AI companies can leverage these ample resources to fuel their growth and drive technological breakthroughs.
A Thriving Innovation and Technology (I&T) Ecosystem
The city is home to a vibrant I&T ecosystem, with a growing cluster of 18 unicorn companies (startups valued over US$1 billion), focused on areas such as AI, robotics and advanced manufacturing.
Hong Kong Science and Technology Parks (HKSTP) for AI Development
Hong Kong's commitment to AI development is evident in the rapidly expanding presence of AI companies within the HKSTP, a hub for technology and innovation. There were over 200 AI companies based at HKSTP by the end of 2022, a 100% increase over the same period in 2021.
Additionally, the HKSTP has established two InnoHK research clusters, namely Health@InnoHK, which focuses on healthcare technologies, and AIR@InnoHK, which focuses on AI and robotics technologies. 29 research laboratories under InnoHK have commenced operation, involving seven local universities and research institutions as well as over 30 institutions from 11 economies.
Cyberport AI Supercomputing Centre (AISC)
As Hong Kong’s largest AI supercomputing centre, AISC is set to enhance computing power to 3,000 petaFlops in 2025, adding to Hong Kong’s strengths in basic scientific research.
Artificial Intelligence Subsidy Scheme (AISS)
With HK$3 billion from the Hong Kong Government, Cyberport was commissioned to implement the Scheme to support local institutions, R&D centres, Government bureaux and departments, AI start-ups, and strategic enterprises to leverage AISC computing resources to achieve scientific research and application breakthroughs with AI, spanning local large language models (LLMs), new materials, synthetic biology, and medical large models.
A HK$3 Billion AI Subsidy Scheme for AI Funding
The Hong Kong government has unveiled the HK$3 billion AI Subsidy Scheme to support universities, R&D institutes, and enterprises in leveraging the AISC's computing capabilities and advancing the city's AI ecosystem.
A HK$10 Billion RAISe+ Scheme for AI Development
The government's HK$10 billion Research, Academic and Industry Sectors One-plus Scheme (RAISe+ Scheme) incentivises collaboration among industry, academic, and research sectors to transform R&D outcomes and drive industry development. The RAISe+ Scheme will match funding for at least 100 university research teams with potential to become successful startups, including AI startup companies.
No Quota/No Tariff Policies with Mainland China
Hong Kong is one of the world’s freest economies, with a sound legal system, simple tax regime and strong IP rights protection. Moreover, there are no quota or tariff policies for the AI and robotics trade with Mainland China. Hong Kong acts a strategic bridge for innovative companies looking to access the Mainland market.
Third InnoHK Research Cluster for AI Technologies
The government will establish the third InnoHK research cluster, focusing on advanced manufacturing, materials, energy, and sustainable development, including AI technologies.
With its AI-friendly policies, robust funding landscape, world-class infrastructure, and deep talent pool, Hong Kong offers unparalleled opportunities for AI companies and foreign investors to thrive. Seize the moment and make Hong Kong the launchpad for your AI-driven success.
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