Hong Kong X invests six local start-ups

Financial details have not been disclosed. The organization, founded by Neil Shen, managing partner at Sequoia Capital China and two local university professors, will emphasize ecosystem building and provide mentoring in fields including robotics, artificial intelligence, medical technology, big data and financial technology.

“We see tremendous growth opportunities for these high-tech start-ups which have been nurtured by local academia, overseas returnees and governmental incubation programs like Hong Kong Science and Technology Parks and Cyberport,” Shen said in a statement. “We are more confident than ever in the entrepreneurial spirit of Hong Kong.”

The program’s initial batch of start-ups include biotech companies BacMuno and PreciVax as well as financial technology provider Seasonalife, imaging systems supplier SmartSens and IT players Efinix and eTopus. A number of the companies are expected to move their operations into Hong Kong’s X-Lab, a co-working space backed by Sino Group.

Hong Kong X was established last year with a view to promote local entrepreneurial culture by encouraging connections between students, professors and technology professionals while offering capital support and technical advice. It describes its initial investments as part of a broader effort to establish Hong Kong as a technology development hub.

Hong Kong is considered uncompetitive compared to other global start-up ecosystems in terms of funding, talent and policy environment support. Recent progress addressing this issue includes a HK$2 billion ($256 million) fund that will co-invest in start-ups alongside venture capital funds on a matching basis. 

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• Topics
• Greater China
• Healthcare
• Technology
• Early-stage
• Hong Kong (China)
• Sequoia Capital
• seed