 leads a delegation of 25 start-ups to the Future Investment Initiative in Riyadh, fostering innovation partnerships and supporting Saudi Arabia’s Vision 2030 with solutions in biotechnology, green energy, robotics, and AI.){kind=link}
Hong Kong Science and Technology Parks Corporation (HKSTP) is launching its largest overseas delegation by bringing 25 Hong Kong-based start-ups to the Future Investment Initiative (FII) forum in Riyadh, Saudi Arabia, from October 29 to 31. These start-ups, incubated by HKSTP, are active in diverse fields, including biotechnology, green energy, robotics, artificial intelligence, and data science. HKSTP CEO Albert Wong Hak-keung expressed optimism that this trip will allow start-ups to expand their reach by meeting potential partners, investors, and clients in the Middle East, a region with rising demand for sustainable and innovative technologies.
The FII forum aligns with Saudi Arabia’s Vision 2030, an initiative to diversify its economy beyond oil by promoting investment in renewable energy and green tech. Wong highlighted the potential for Hong Kong’s start-ups to contribute to this vision with solutions that match the region’s sustainability targets and innovation needs. For instance, Christine Yip, CEO of AusMed Global, is eager to introduce her non-invasive diabetes monitoring device to the Middle Eastern and African markets, where diabetes rates are significant. Another delegate, Volar Air Mobility co-founder Koh Wong Siang, sees opportunities for his electric aircraft in the region’s vast landscapes, especially given Saudi Arabia’s commitment to net-zero emissions by 2060.
The Hong Kong delegation to the FII will also include prominent executives from Hong Kong’s financial sector, including representatives from Hong Kong Exchanges and Clearing (HKEX) and the Securities and Futures Commission. Panels will discuss various topics, such as financial regulation, new investment opportunities, and Hong Kong’s role in the Belt and Road Initiative. A session on the New Silk Road will feature Hong Kong’s commissioner for the Belt and Road Initiative, Nicholas Ho, highlighting the city’s commitment to strengthening global trade ties.
In a significant milestone, Financial Secretary Paul Chan Mo-po will participate in a ceremony celebrating the launch of the Albilad CSOP MSCI Hong Kong China Equity ETF, the first exchange-traded fund (ETF) from Hong Kong to be listed on the Saudi Stock Exchange. This ETF, a collaboration between Hong Kong’s CSOP Asset Management and Saudi Arabia’s Albilad Capital, focuses on Hong Kong-listed companies, symbolizing increased investment collaboration between the two regions.
HKSTP, established in 2001 to support innovation and technology in Hong Kong, has incubated over 1,200 start-ups, some of which have grown into publicly traded companies. CEO Wong indicated that the corporation will continue promoting its start-ups internationally, with future efforts aimed at markets in the U.S., Europe, and across Asia.
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