The Hong Kong Startup venture fund attracts 43 countries but no Australians?

- August 30, 2013 2 MIN READ

Invest Hong Kong (InvestHK) today announced that its StartmeupHK Venture Programme 2013 has drawn an overwhelming response with 380 entries from entrepreneur-led businesses in 43 countries and cities worldwide.

The largest number of entries came from Hong Kong (18 per cent), followed by Israel and the US (11 per cent each), Canada (7 per cent), and the UK and India (5 per cent each). Entrants are diverse, ranging from mobile marketing apps and new medical and health-care technologies to clean tech management, business-to-business e-marketing and more. Though we should note that Australia has not really gotten much of a mention regarding entries or getting into the program.

Considering Asia is right on our back door step, Shoe String has been quite surprised that out of the 380 entries, none of them have come from Australia, a country that shares the most similar time zone with the gateway to China. It will be interesting to see the results of those chosen for this program and the success they have within the Asian market.

Assessors will select 20 semi-finalists from the 380 applications and, after a series of interviews in late September, 12 finalists will be picked to participate in the StartmeupHK Week from December 4 to 7 in Hong Kong. At the Venture Programme Forum on December 5, featuring venture capital guru Mr Tim Draper, three Grand Award Winners will be chosen from the 12 finalists by a panel of judges and Forum attendees.

The Director-General of Investment Promotion, Mr Simon Galpin, was delighted by the number of applicants to the Venture Programme, which he said was an indication of Hong Kong’s appeal for start-up businesses. “Hong Kong offers an ideal foothold and a great opportunity for entrepreneur-led businesses from all over the world to scale up and go global,” Mr Galpin said.