Hong Kong is the Perfect Platform to Launch AI Business

Seeing a growing uptake of AI in business in Hong Kong and the region, data science startup offers technology consultation and self-sustaining data solutions for enterprises

Artificial Intelligence (AI) and automation are driving the future of innovation. Many companies are keen to use and incorporate AI into their business, but it may not be easy to start. ThinkCol, a data science consultancy founded by two young entrepreneurs, offers data solutions for companies and enables them to leverage AI technology to reach business success.

Blending their expertise of computer science and finance, the co-founders of ThinkCol saw a huge opportunity to bring AI into Hong Kong’s businesses. “Many Hong Kong major corporations recognise the importance of AI and plan to apply the technology in their business,” explained Kane Wu, Co-Founder, “the role of data science becomes more and more critical, while the demand for data specialists is also increasing.”

With the vision of making AI accessible to everyone, ThinkCol provides not only professional training and consultations, but also a self-service platform that helps businesses to develop their own AI products regardless of company size and technical knowhow, offering a wide range of support including data analysis, project management and technology development. In two years’ time, the team of twelve has successfully completed projects with some of the world’s leading corporations, local statutory bodies and major institutions.

Sam Ho, Co-Founder, thinks that Hong Kong offers a deep talent pool and unique opportunities. “The diverse culture of Hong Kong gives the city a key advantage in attracting talent from all over the world,” Ho said, “as a gateway to Mainland China, Hong Kong also opens up a lot of opportunities for professionals who are eyeing this enormous market.”

After launching a few successful projects in Hong Kong, ThinkCol has received a lot of enquiries from potential customers around the world. As a result, the company is planning to expand its team to North America.

The co-founders also hope to build a vibrant technology ecosystem in Hong Kong, which will encourage newcomers and enterprises to create more innovative AI applications, and eventually increase the city’s capacity for new technology. As such, Ho and Wu founded the Hong Kong Data Science Society, a non-profit organisation that promotes data science, as well as provides relevant training and competition opportunities in Hong Kong and worldwide.

Ho shared some tips for those who would like to launch a startup in the technology industry. “Don’t put a ceiling on yourself. If you feel you can’t compete with the sizable and established companies because of the scale, you will limit your potential and creativity. So, be confident!”

Wu also added newcomers should contact InvestHK to get assistance. “The assistance provided by InvestHK has been very helpful. The publicity support allows our potential customers to get to know us and funding information for startups really helps a lot for our future development,” he concluded.