Hong Kong Start-Ups Target Middle East Capital through Innovative Partnership

Hong Kong Start-Ups Eyeing Middle East Capital

Hong Kong’s main technology park operator and Saudi Arabia’s start-up incubator have agreed to collaborate, giving fintech companies in the city access to financing from a Middle East fund to pursue their growth ambitions.

Key Developments at FII Summit

Hong Kong Science and Technology Parks (HKSTP) and Beta Lab signed an agreement in Riyadh as the Future Investment Initiative (FII) summit kicked off. Financial Secretary Paul Chan Mo-po and Saudi Arabia’s Minister of Investment Khalid bin Abdulaziz Al-Falih witnessed the event.

• Funding Opportunities: Start-ups in HKSTP's parks may have access to Beta Lab’s US$300 million investment fund.
• Technological Expertise: In exchange for capital, these start-ups can share expertise in artificial intelligence (AI), biotechnology, and green technology.
• Investment Facilitation: HKSTP will introduce over 1,200 established start-ups to Beta Lab for potential funding.

Broader Market Impact

In addition to the above, Hang Seng Bank will collaborate with SAB Invest to launch an exchange-traded fund (ETF) tracking the Tracker Fund of Hong Kong. This initiative is expected to boost interest among Saudi investors in Hong Kong's financial markets.

Conclusion: Strengthening Economic Ties

The collaboration marks a significant effort to establish stronger economic ties between Hong Kong and the Middle East, emphasizing Hong Kong's pivotal role as a connector in the global economy.