Hong Kong serves as the strongest launchpad for Chinese mainland startups and unicorns expanding into global markets, as well as the premier hub for overseas technology companies seeking opportunities in the mainland, said John Lee Ka-chiu, chief executive of the Hong Kong Special Administrative Region, at a tech summit.

Lee made the remarks at the inaugural Global Unicorn Summit held at the Hong Kong Convention and Exhibition Centre. Themed "Born to Lead, Built to Create", the event brought together global unicorn companies, research institutes, international financial institutions, and policy makers to discuss cutting-edge fields, including artificial intelligence, biomedicine, robotics, and advanced materials.

Lee said that Hong Kong is dedicated to bolstering its innovation and technology ecosystem. Last year, the number of non-local companies operating in the city exceeded 11,000, while the number of local startups surpassed 5,200 — both reaching record highs.

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He said that Hong Kong's two major tech flagships, the Hong Kong Science Park and Cyberport, provide comprehensive support to startups across various stages, including incubation, fund matching, marketing, and infrastructure. Over the years, Hong Kong has nurtured around 20 local unicorns, demonstrating its capacity to nurture world-class innovative enterprises.

Lee also highlighted that the San Tin Technopole in the Northern Metropolis leverages Shenzhen-Hong Kong tech cooperation to facilitate the cross-border flow of innovation resources. With over 90 technology institutes established, the hub is set to become a world-class center connecting the Chinese mainland with global markets.

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Hong Kong will expand patient capital to support startups, said Sun Dong, secretary for innovation, technology and industry of the Hong Kong SAR. He said that Hong Kong will launch a HK$40 billion ($5.1billion) innovation and technology fund this year, focusing on five key sectors: life and health technology, AI and robotics, semiconductors and smart devices, digitalization and industrial transformation, and future sustainability. The fund will help guide investments across the entire industry chain.

Market-driven incubators and accelerators are also actively expanding their services.

Tenwings Accelevator, established last year at Cyberport to help tech startups expand overseas via Hong Kong, has already assisted nearly 100 businesses in entering international markets.

"Hong Kong has a mature framework for international expansion, supported by generous policy incentives," said Liu Xinyang, the company's overseas business consultant.

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She said that the company brought 11 startups spanning sectors such as embodied AI, the low-altitude economy, new energy vehicles, smart manufacturing, biomedicine, and AI applications to the summit, aiming to leverage Hong Kong's position to connect with global capital, industrial resources, and overseas markets.

Fostered by this thriving innovation ecosystem, local tech ventures are gaining rapid momentum. 0x Limited is a healthcare AI startup founded in Hong Kong three years ago. Powered by medical large language models (LLMs), AI agents, and image recognition technology, its products allow users to interpret health-check reports, analyze food nutrition, understand specialized medical terms, and receive AI-driven consultations.

As a tenant of Hong Kong Science Park, the firm has effectively bridged its operations with the mainland market. "The Science Park frequently connects us with mainland business opportunities, medical exhibitions, and hospitals," said Au Siu-lun, chief architect of the firm. Through these referrals, 0x Limited is now collaborating with several mainland hospitals to integrate its LLMs into hospital systems. Patients can upload medical records for preliminary consultations to clarify specific questions before seeing a doctor. Beyond the mainland, the company has successfully expanded its market presence globally to the United States and Brazil.

Contact the writer at akirawang@chinadailyhk.com