HONG KONG SAR -
Media OutReach Newswire - 26 October 2024 - The annual
Cyberport Venture Capital Forum 2024 concluded yesterday. The two-day forum, themed
Innovation Challenger: Building New Venture Visions, brought
together international venture capital experts, investors, and
representatives from the Cyberport start-up community. Alongside the
main event were the "Web3.0 Innovation Expo", start-up workshops, and
clinics, attracting over 2,600 participants and amassing 150,000 page
views, both of which are record-breaking. The event facilitated over 350
one-on-one matching meetings between investors and start-ups, receiving
enthusiastic feedback.
Following insights shared by industry experts on the first day of the
Forum, the second day featured a "Start-up Workshop". Moderated by
Pocket Sun, Managing Partner of SoGal Ventures, and
Ron Levin, Managing Partner of Alumni Ventures, the workshop
provided start-ups with unique insights and practical experience. They
explored the practical issues of raising funds in a challenging market
and discussed strategies for overcoming obstacles in both mature and
emerging industries, offering new perspectives in venture capital to
assist start-ups in addressing the difficulties and challenges faced
during fundraising.
The Forum included an "Investor Matching" session, aligning investors
and start-ups based on their technology fields and investment
preferences to facilitate business connections. Additionally, there were
about 40 Innovator Showcases and over 100 virtual Innovator Showcases
where start-ups presented their technologies to investors and industry
leaders from around the world.
On the second day of the Forum, the focus was on key activities in
Web3.0, bringing together local and global industry experts, corporate
representatives, investors, members of the Cyberport Web3.0 community,
and key blockchain ecosystem representatives to exchange and share
valuable insights. This included an in-depth understanding of how Web3.0
has been reshaping industry landscapes, driving innovation, and
creating new opportunities, while also learning how to leverage these
technologies to maintain a competitive edge in a rapidly changing
market.
Joseph Chan, JP, Under Secretary for Financial Services and the
Treasury, The Government of the Hong Kong Special Administrative Region,
emphasised in his speech: "Hong Kong ranked third globally and
first in Asia in the Global Financial Centres Index. With many financial
institutions establishing their regional headquarters or largest
regional presence here, Web3 companies in Hong Kong enjoy tremendous
access to potential clients, investors, and business partners, making it
an ideal place to start and scale up," said Mr. Joseph Chan, JP, Under
Secretary for Financial Services and the Treasury. "Our philosophy is
clear - we firmly believe that encouraging financial innovation is only
possible through providing a transparent, certain and predictable
regulatory environment. A significant milestone in our journey was the
introduction of the licensing regime for Virtual Asset trading platforms
in June last year."
He added that later this year, the Government will introduce legislation
to regulate fiat-referenced Stablecoin issuers, establishing a secure
framework for this emerging market. Additionally, a second round of
public consultation will be held on regulatory proposals for
over-the-counter VA trading, along with a proposed licensing regime for
VA custodian service providers to ensure the safekeeping of digital
assets in line with international standards.
Eric Chan, Chief Public Mission Officer of Cyberport, in his
welcome speech at the "Web3.0 Innovation Expo", said: "Web3.0 technology
is an innovative field with enormous potential, attracting the
attention of many investors. The HKSAR Government is committed to
accelerating the development of this ecosystem, aiming to position Hong
Kong as a Web3.0 hub. Cyberport, home to Hong Kong largest Web3.0
community, recently established the 'Web3.0 Investment Circle' (W3IC)
under the Cyberport Investors Network (CIN). We believe this will
facilitate more Web3.0 investment matching and explore new business
opportunities for the Cyberport community in the future. This initiative
will lead the industry to engage in in-depth discussions and discover
innovative technologies, thereby enhancing the influence of Hong Kong
start-ups."
Georgina Chu, Chief Corporate Development Officer of Cyberport,
stated in her keynote speech of the Development of Web3Hub@Cyberport:
"Cyberport has always been committed to fostering innovation and
promoting collaboration in the Web3.0 field, and we have made
significant progress to date. As of September this year, we have
attracted over 270 Web3.0 companies from Hong Kong, Mainland China, and
regions such as North America and Europe, demonstrating the diversity
and vibrancy of our community. With the increasing integration of
Artificial Intelligence (AI) in the Web3.0 domain and the growing
application of AI technology across various industries, the SAR
Government recently allocated HK$3 billion to Cyberport for the launch
of the AI Subsidy Scheme. This scheme aims to boost local research and
AI development, promote more scientific breakthroughs, and collaborate
with the industry to advance Hong Kong's goal of becoming an
international I&T hub."
This afternoon, at the breakout session, EmergentX simultaneously hosted
the Digital Visionaries Symposium 2024: Tech Stage. The event featured
multiple interactive sessions and themed discussions led by top
technology experts, delving into corporate integration and
transformative application cases of disruptive technologies such as AI
and blockchain. It explored how to leverage these technological
advancements to drive corporate growth
To revisit the content and speaker lineup of the Cyberport Venture Capital Forum 2024, please visit the website:
https://cvcf.cyberport.hk/en/index