HKIC ends year on high note but Hong Kong cost of living a drawback for attracting talent
View original at finance.yahoo.comHKIC ends year on high note but Hong Kong cost of living a drawback for attracting talent The success of the government's Hong Kong Investment Corporation (HKIC) in establishing an ecosystem for start-ups to raise funds has put a damper on the Christmas plans for employees of some local venture capital (VC) firms…
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HKIC has a dual mandate: to generate reasonable returns and enhance the long-term competitiveness and economic vitality of Hong Kong
80% confidenceThe sector is now entering a spring-like phase of growth, making this the perfect time for HKIC to establish robust ecosystem
80% confidenceHong Kong's rent and living costs are very expensive by international standards, discouraging startup talent from relocating because their income may not be enough
80% confidenceGovernment should provide affordable housing to make it easier for talent to live in Hong Kong as talent is important for developing innovation industry
80% confidenceBeing a second or third-mover is not necessarily disadvantageous as Hong Kong can learn from mistakes of others
80% confidenceHong Kong's high cost of living makes it difficult to attract talent needed to work in Hong Kong
80% confidenceSome MindWorks staff will not have Christmas holidays to focus on closing numerous ongoing deals
80% confidenceOne of HKIC's key priorities is to channel market capital into high-potential, nascent-stage industries and attract innovative enterprises to Hong Kong
80% confidenceHKIC investment is an endorsement giving confidence to partner with other investees without needing to do due diligence again
80% confidence2025 was one of the busiest years for MindWorks since its establishment 11 years ago
80% confidenceHKIC has invested in over 150 projects, leveraging more than HK$6 of private capital for every Hong Kong dollar it invested
80% confidenceTeaming up with HKIC makes it easier to negotiate investment deals
80% confidenceHKIC and Temasek are different because Singapore sovereign focuses on profits while HKIC looks for projects to promote Hong Kong's innovative industries
80% confidenceAI, logistics, and longevity would be key growth drivers for Hong Kong's investment ecosystem in coming years
80% confidenceThe startup investment market experienced severe downturn during pandemic and only rebounded over past two years
80% confidenceAfter partnering with HKIC, the number of deals MindWorks is working on tripled compared to last year
80% confidenceHKIC is establishing an ecosystem for the innovative industry in Hong Kong, not only providing funding but also emphasizing establishing industry networks
80% confidenceHKIC investment has effectively turned Soy-Sky into a government-backed company, which is important when pitching to Belt and Road countries
80% confidenceRemuneration for startup talent is much higher in mainland China and the US where markets are much bigger and more competitive
80% confidenceThe partnership between HKIC and BioMap is a very important endorsement that helped get funding from other investors
80% confidenceMindWorks shares the same mission with HKIC which extends beyond seeking financial returns to fostering a robust ecosystem for innovative industries in Greater Bay Area
80% confidence