Hong Kong is a beautiful city for living but its high cost of living and lack of trained technology engineers as well as the small local market has convinced many entrepreneurs who are focused in china to avoid the Special Administrative Region. But a new funding program for new digital entrepreneurs has been announced in Hong Kong by the Cyberport that is more likely to help the current situation.
Cyberport Macro Fund is announced in Hong Kong by Cyberport. This is for the young startups taking place out of Hong Kong. They are likely to boost the growth of digital startup in Hong Kong with the initial funding size of HK$200 million.
Series A stage funding for digital startups will be offered by the investment funds with a co-investing approach with public and private investors. This is more likely to develop an eco-system for venture capital in Hong Kong.
The chosen applicants will be able to get up to HK$1 million to HK$20 million of investment from a single investor. All the applications will be sorted and selected by areas of compliance, financial position, business plan, and potential return of the investment, business viability as well as governance and proven involvement in the Cyberport community.
Hong Kong SAR Government owns the Cyberport and it is located on the south side of the island. It is also well equipped with state of the art facilities like a five star hotel, retail entertainment complex, and bleeding edge broadband technology. The tanents at Cyberport is a home for global companies like Lenovo, Microsoft and Cisco and local firms like Dragon Law, Animoca, Outblaze, Fresh accounting, and Kovurt.