Introduction to Hong Kong’s Tech Landscape
Hong Kong, known for its dynamic business environment, is rapidly becoming a pivotal gateway for UK tech companies into the Asia-Pacific (APAC) market. With its pro-business administration and advanced infrastructure, Hong Kong offers a unique blend of opportunity and accessibility for UK tech businesses looking to expand into the APAC region.
Richard Lowe, MD of Hewlett Rand and founder of Tech West England Advocates, highlights the city’s appeal:
“I’ve been travelling to Hong Kong for more than a decade, actively working there for over six years. The vast untapped opportunity here for UK tech is undeniable.”
Strategic Location: A Gateway to APAC Markets
Geography plays a crucial role in Hong Kong’s appeal. Its strategic location not only provides access to major APAC markets like China, Japan, and India but also aligns conveniently with time zones in Australia and the Middle East. Additionally, the overlap with business hours in London and San Francisco further enhances its global connectivity.
“Across the region, we’re seeing healthy growth trajectories. For UK businesses, Hong Kong can serve as a base for growth across Singapore, Indonesia, and Malaysia.”
One Country, Two Systems: Benefits for UK Tech
Despite being a part of China, Hong Kong maintains a unique ‘one country, two systems’ policy, making it an easier route for UK companies into the APAC market. Its pro-business policies, designed to showcase the city’s openness to international business, have positioned Hong Kong 7th in the IMD World Competitiveness 2023 rankings.
Lowe adds, “From a UK founder’s perspective, the Hong Kong business landscape is familiar, with British-shaped banking, legal, and regulatory structures.”
Hong Kong’s Knowledge Economy: Education and Infrastructure
Hong Kong’s education system and infrastructure further bolster its position as a tech hub. Home to five universities ranked in the top 65 globally, the city offers a large, well-educated workforce. Its world-class R&D facilities and over a hundred incubators and accelerators create an ecosystem optimized for technology, professional services, and finance.
Building a Legacy: Tech West England Advocates’ Mission
The upcoming Tech West England Advocates trade mission, coinciding with the StartmeupHK festival, is a major step in strengthening UK-Hong Kong tech collaboration. It marks the first major UK tech delegation to Hong Kong since the Covid pandemic, aiming to open a trade corridor and establish a lasting legacy.
Conclusion
Hong Kong is not just a gateway but a catalyst for UK tech businesses seeking opportunities in the APAC region. Its strategic location, pro-business environment, and robust infrastructure make it an ideal hub for technological and business growth. As Tech West England Advocates leads the way, the potential for fruitful collaborations and expansion in this vibrant market is immense.
We invite our readers to share their thoughts and experiences on Hong Kong’s role as a tech bridge between the UK and APAC. Comment below to join the conversation!
