As it steps up efforts to support the local startup ecosystem, the Hong Kong government recently announced a capital infusion of HK$400 million ($51 million) into the corporate venture arm of Science and Technology Parks Corporation (HKSTP) — a government body set up to foster the city’s innovation and technology ecosystem.
Although the capital injection, which has brought the venture arm’s total assets under management (AUM) to HK$1 billion ($127.4 million), bodes well for the ecosystem, there are other challenges that local startups or even investors have to overcome.
