Keynote speech by SITI at seminar “How World Originate-americaSucceed in Asia thru Hong Kong’s Innovation Ecosystem?” of VivaTech 2024 in Paris (English only) (with photos)

Following is the keynote speech by the Secretary for Innovation, Technology and Commerce, Professor Sun Dong, on the seminar “How World Originate-americaSucceed in Asia thru Hong Kong’s Innovation Ecosystem?” of VivaTech 2024 in Paris this day (May presumably 24, Paris time):

Shirley (Particular Representative for Hong Kong Financial and Commerce Affairs to the European Union, Ms Shirley Yung), Silas (Regional Director, Europe, Central Asia and Israel of the Hong Kong Commerce Vogue Council (HKTDC), Mr Silas Chu), Chris (Director, France, Spain and Portugal of the HKTDC, Mr Chris Lo), accepted speakers, site visitors, ladies and gentlemen,

Correct morning. Bonjour. It is a long way my vast pleasure to be a a part of you all this day at VivaTech 2024, Europe’s most attention-grabbing tech occasion right here in the romantic and comely metropolis of Paris.

This three hundred and sixty five days marks the 60th anniversary of the establishment of China-France diplomatic ties, and the Paris Olympic Games will officially start right in two months. It makes me seriously angry to focus on over with Paris this special three hundred and sixty five days, and on this special occasion, I would favor to shine a highlight on Hong Kong and uncover the sector how this Pearl of the Orient is reworking valid into a world innovation and technology (I&T) centre.

Hong Kong’s ever-increasing start-up scene

Originate-americaare the engine of innovation, the provision of jobs and talent, the spirit of entrepreneurship, and the model ahead for financial swear. In accordance with the World Originate-up Ecosystem Represent 2023, Hong Kong ranks the 2d on this planet and the principle in Asia in the long creep 100 rising ecosystems, and is basically the most attention-grabbing Asian metropolis in the long creep 10. As of 2023, the sequence of start-americain Hong Kong reached about 4 300, an construct higher of one-third as when when in contrast with 2019. Among them, a quarter of the start-up founders are non-locals, and founders from France legend for 10 per cent of them. As “Asia’s world metropolis” with an increasingly more vivid I&T ecosystem, Hong Kong has so great to give.

Proactive government initiatives

Similar to the France 2030 thought, which goals to produce industrial competitiveness and future technologies, the Hong Kong SAR (Particular Administrative Space) Executive promulgated the Hong Kong Innovation and Technology Vogue Blueprint in December 2022 to connect a undeniable trend route and systematic strategic planning for Hong Kong’s I&T trend over the subsequent 5 to 10 years, charting Hong Kong in inviting paunchy steam in direction of our vision of increasing valid into a world I&T centre.

To comprehend our vast vision, we now had been adopting a multipronged almost about most attention-grabbing our I&T ecosystem and promote change trend of strategic significance, including lifestyles and effectively being technology, AI (artificial intelligence) and records science, as effectively as novel energy and evolved manufacturing industries. We worth the doable and contributions of start-ups. Let me portion with you why Hong Kong is thought to be one of essentially the easiest destinations for global start-americato thrive and flourish.

Strong R&D (research and trend) skill promoting global I&T collaborations

The most attention-grabbing asset of Hong Kong’s I&T trend is our sturdy research skill. As a records-primarily based mostly mostly society, Hong Kong is basically the most attention-grabbing metropolis on this planet housing 5 of the sector’s top 100 universities. We are also dwelling to 2 world’s top-40 clinical faculties. Hong Kong is an R&D powerhouse and an stuffed with life promotor of world I&T collaboration. We strengthen global start-americawith obtainable sources of R&D capabilities, records and talent, as effectively as a vivid I&T culture and atmosphere.

The day previous to this, I acquired an alternate to focus on over with the effectively-known Institut Pasteur, which has been collaborating with the University of Hong Kong on infectious disease research projects for practically 25 years with unheard of achievements. But, this is good one example amongst many global R&D collaborations taking remark in Hong Kong. Below our flagship R&D initiative, InnoHK, a total of 29 research laboratories had been space up by 30 world-effectively-known universities and research institutes under two research clusters focusing on AI and robotics, and effectively being technologies respectively, to habits excessive-quality collaborative research. Our final aim is to translate global innovations into values, and I have confidence about that this is also the aspiration of many start-ups.

Entire strengthen to start-americawith a change friendly atmosphere

We are also committed to providing entire strengthen to start-u.s. assorted stages of their trend. Like many start-up incubators and accelerators right here with us this day, the two I&T flagships in Hong Kong, particularly the Hong Kong Science Park and the Hong Kong Cyberport, play a crucial feature in nurturing and supporting start-americain Hong Kong thru assorted entrepreneurship schemes and incubation programmes, providing infrastructure, technical and funding strengthen for his or her start-ups. As an illustration, Science Park’s Corporate Endeavor Fund and Cyberport Macro Fund hang altogether attracted higher than HK$14.3 billion, identical to around 1.7 billion euros, of non-public funding over time. Alongside with other government and non-public funding funds, there are multifundraising channels for start-ups.

Funding apart, Hong Kong also presents a straightforward tax system with a low tax charge, a worn right system and mighty IP protection regime, world-class logistics and infrastructure, and a bilingual working culture with versatile and laborious-working folk. All these favourable factors construct a change-friendly atmosphere for start-americato grow, broaden and reach Hong Kong.

The bridge connecting East and West

Taking part in the twin advantages under “one country, two systems” and strategic space in your step of Mainland China, Hong Kong is effectively positioned to be the bridge connecting East and West. Its high space puts Hong Kong interior a 5-hour flight of most major cities and markets in Asia and half of the sector’s population. In other words, developing a change in Hong Kong presents you great higher than right a single market, however an ultimate gateway to the big market in the Elevated Bay Trouble, Mainland China and Asia with boundless alternatives.

To boot to markets, a sturdy change chain and provide chain are also crucial for start-ups. That you just must moreover honest prefer to grab that the Shenzhen-Hong Kong-Guangzhou science and technology cluster continues to horrible 2d on this planet for the fourth consecutive three hundred and sixty five days in the World Innovation Index 2023. With a stable provide of talent and materials, the possibilities and synergies of the Elevated Bay Trouble will almost definitely be limitless.

To capitalise on Hong Kong’s I&T strength and advantages, we’re inviting at paunchy steam to produce I&T infrastructure in the Hong Kong Park of Shenzhen-Hong Kong Innovation and Technology Co-operation Zone positioned in the Lok Ma Chau Loop, and on the same time attracting book tech enterprises from mainland and foreign to space root or broaden their change in Hong Kong.

Concluding remarks

Ladies and gentlemen, innovation is conscious of no boundaries and alternatives are interior reach. I am hoping my sharing this day can come up with a refreshing thought of Hong Kong’s ever-increasing start-up scene. To boot, I visited the “So French So Revolutionary” Pavilion at InnoEX, the annual flagship I&T occasion in Hong Kong and I changed into deeply impressed by the I&T showcase of the French exhibitors. There may well be indeed so great we can cease collectively in AI, inexperienced, smash management, native weather change and so forth. We welcome start-americaand enterprises from France as effectively as from all the design thru the continent to space up or broaden their firms in Hong Kong. I’m certain that the Hong Kong Commerce and Vogue Council, and our Financial and Commerce Offices in Europe will almost definitely be higher than contented to join you with Hong Kong. Let us be a a part of fingers to embark on an I&T lope across borders.

In closing, may well moreover honest I wish VivaTech any other three hundred and sixty five days of vast success and everyone right here a fruitful alternate. Merci beaucoup.

Ends/Friday, May presumably 24, 2024
Issued at HKT 20:20

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