\n<\/p>\n
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\u00a0<\/p>\n CVCF
\u00a0<\/p>\n Dr
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\u00a0<\/p>\n Dr George Lam: Start-up financing shows
Dr
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\u00a0<\/p>\n From
\u00a0<\/p>\n Peter Yan, Chief Executive
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\u00a0<\/p>\n On the
\u00a0<\/p>\n Several
\u00a0<\/p>\n Cyberport Entrepreneurship Programme
The Cyberport
\u00a0<\/p>\n Cyberport Incubation Programme
\u00a0<\/p>\n Edventures<\/u><\/b> <\/u><\/b>GBA
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Cyberport FinTech InnoCon<\/u><\/b><\/p>\n This
\u00a0<\/p>\n To provide
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http:\/\/cvcf.cyberport.hk\/<\/a> <\/p>\n \u00a0<\/p>\n For high
Image Captions:<\/p>\n
\nKONG SAR\u00a0–\u00a0Media
\nOutReach<\/a>\u00a0–\u00a02 November 2021 –\u00a0The
\nCyberport<\/a> Venture Capital Forum (CVCF), Cyberport’s premier annual venture
\ncapital event commenced today at Cyberport. Presented in a brand-new hybrid
\nformat of online and offline engagement, CVCF 2021 gathered more than 70 global
\nventure capital investors to deliberate under the theme “Venturing for Success:
\nResilience, Growth & Opportunity”. Against a backdrop of promising market
\ndynamics and rapid emergence of unicorns in the post-COVID era, speakers
\ndiscussed trends in global tech venture and financing, investor strategies and
\nemerging areas in venture capital, opportunities and prospects in the Greater
\nBay Area, and more.<\/p>\n
\nwas officially unveiled today in conjunction with the 4th anniversary of the Cyberport
\nInvestors Network (CIN). Achievement of the CIN and Cyberport Macro Fund (CMF)
\nover the past 12 months in supporting start-ups with financing was also
\nannounced.<\/p>\n
\nDavid Chung, Under Secretary for Innovation and
\nTechnology of HKSAR delivered the opening speech for the Forum. Co-officiating
\nthe opening ceremony of the Forum were Dr George Lam, Chairman of Cyberport,
\nPeter Yan, Chief Executive Officer of Cyberport, Eric Chan, Chief Public
\nMission Officer of Cyberport and Cindy Chow, Cyberport Investors Network
\nSteering Group Chairperson, alongside other guests. <\/p>\n
\nUnder Secretary for Innovation and Technology<\/b> of HKSAR<\/b> shared, “The
\nCyberport Venture Capital Forum provides an excellent platform to connect and
\nfacilitate exchange among investors, start-ups, enterprises, and industry
\nprofessionals, as well as foster investment matching opportunities. I trust
\nthat investors will discover numerous useful solutions developed by Cyberport’s
\nstart-ups through this platform. I wish the Forum another year of great
\nsuccess.”<\/p>\n
\nstrong performance<\/u><\/b><\/p>\n
\nGeorge Lam, Chairman of Cyberport, mentioned in his welcome address, “The
\ninnovation and technology industry displayed strong resilience amidst the
\nCOVID-19 pandemic last year. The completion of a number of significant investment
\ndeals has set multiple records in the venture capital market. Cyberport’s
\nstart-up community also delivered exceptional performance in fundraising. In
\nthe first five months of this financial year, the total amount of funds raised
\nexceeded that of the entire previous year. The cumulative funds raised by
\nCyberport’s start-up community has reached HK$18.7 billion to-date – a
\nyear-on-year growth of more than 40% from HK$13.2 billion in the same period
\nlast year. Cyberport has been promoting and facilitating investment matching
\nand supporting start-up fundraising through the CMF. This year, the CMF has
\nachieved an excellent co-investment ratio. Over the last year, a total of
\napproximately HK$38 million was injected into 5 start-ups, attracting
\nco-investments of HK$621 million to reach a total investment of HK$650 million
\nto achieve an investment ratio of 1:16. This is much higher than the past
\naverage of 1:8. This reflects investors’ confidence in start-ups and the
\nhigh-potential investment field.<\/p>\n
\ninnovation and technology development. With the increasing enthusiasm of
\nventure capital, the rapid emergence of unicorns, a thriving Greater Bay Area,
\nand favourable policies set out in the 14th National Five-Year Plan, I have
\nfull confidence in Hong Kong’s development into the world’s innovation and technology
\ncentre.”<\/p>\n
\nSeptember 2020 to August 2021, Cyberport injected capital through the CMF into
\nfive Cyberport start-ups. They include Lynk, Rice Robotics, Dash Living, Hex
\nTrust and GOGOX. Since its establishment, the CMF has approved a total of
\naround HK$162 million for 22 projects and driven additional co-investment of
\nover HK$1.418 billion, bringing a total of more than HK$1.58 billion of
\ninvestment for start-ups.<\/p>\n
\nOfficer of Cyberport<\/b>,
\nsaid, “This year’s ‘Cyberport Venture Capital Forum’ is being held in a hybrid
\nformat for the first time to provide a unified online and offline experience,
\ncovering several popular emerging investment themes such as the new space
\neconomy, NFT, ESG, and more. I believe the Forum provides participants with an
\nin-depth understanding of the latest trends and opportunities in venture
\ncapital and innovation technology, as well as creates investment possibilities
\nfor start-ups. All the while, the Forum has further deepened project matching
\nand the development of the FinTech industry by providing a platform for
\nstart-ups participating in the Fintech Proof-of-Concept Subsidy Scheme to
\nexchange ideas with regulatory bodies, industry leaders and investors, and explore
\nthe latest trends of innovation with financial services, and the urgency of
\npromoting financial innovation.”<\/p>\n
\nto HK$500 million <\/u><\/b>in the past year<\/u><\/b>
\nof the Cyberport Investors Network (CIN) were also unveiled at the Forum on the
\nCIN’s fourth anniversary. Despite the on-going pandemic, the CIN facilitated deal
\nflows of 14 projects between investors and Cyberport start-ups, resulting in
\ninvestments totalling HK$496 million in the past year. Matched projects covered
\nvarious fields such as FinTech, artificial intelligence & big data,
\nenterprise solutions, the Internet of Things, and smart living. This also
\nbrought the total investments under the CIN over the HK$1 billion mark to an
\nencouraging HK$1.124 billion over 51 matched deals since its establishment. <\/p>\n
\nfuture direction of the CIN, Cindy Chow, Chairperson of Cyberport Investors
\nNetwork Steering Group<\/b> shares, “The Cyberport Investors Network has been
\nworking closely with the Cyberport Macro Fund. With the CMF expanding its scope
\nto investments beyond the A round, we have recruited more investors who focus
\non investing in growth-stage start-ups to match more projects. At the same
\ntime, we will continue to intensify ties within the CIN, including working with
\ninvestors in specific industries to facilitate more targeted matching, and
\nrecruiting more corporate venture and family office members to meet the investment
\nneeds of enterprises. We will also maintain a diversified membership in the CIN
\nto meet the various fundraising needs of the Cyberport start-up community.”<\/p>\n
\nkeynote speeches were delivered to kick off the Forum. KPMG China partner Irene
\nChu presented the latest global trends in tech venture investments, including
\nsector hotspots, opportunities and challenges; Hong Kong Stock Exchange Group
\nChief Executive Nicolas Aguzin shared on how the capital market is supporting
\nthe tech Innovation ecosystem and the role of Hong Kong Stock Exchange;
\nFounders Space Captain and CEO Steve Hoffman spoke on how the next wave of
\ntechnology\u00a0 disruptions in the next few
\ndecades will change the venture capital ecosystem; three Cyberport “unicorn”
\ncompanies, Klook, WeLab and Animoca Brands, shared their journeys of success.
\nThere were also a series of discussions around topical issues including the
\nimpact of the Cross-boundary Wealth Management Connect Scheme on the
\ndevelopment of FinTech innovation, non-fungible tokens (NFT), ESG
\n(Environmental, Social and Corporate Governance) and impact investment, as well
\nas the prospects for tech start-ups in the Greater Bay Area, special purpose
\nacquisition companies (SPAC), and the new space economy, etc.<\/p>\n
\nGraduation Ceremony 2021<\/u><\/b>
\nEntrepreneurship Programme Graduation Ceremony was also held on the first day
\nof the Forum to celebrate the graduation of 170 start-ups from Cyberport
\nCreative Micro Fund and Cyberport Incubation Programme this year.<\/p>\n
\nreceived more than 650 applications last year competing for 130 places while Cyberport Creative Micro Fund received close to 750 applications
\nwith only 97 projects shortlisted, reflecting a keen interest from entrepreneurs
\nto participate in innovation and technology development. In addition to celebrating the
\nmilestones of these start-ups, the graduation ceremony also provides a valuable
\nopportunity for Cyberport start-ups to connect with investors and industry
\nprofessionals. <\/p>\n
\nSummit explores EdTech Development <\/u><\/b>
\nadditional spotlight events under CVCF will also be held tomorrow, including
\nthe “Edventures Global Business Acceleration Summit” (Edventures GBA Summit).
\nThe event is co-organized between Cyberport and Esperanza, which was founded by
\nMr John Tsang. The Summit aims to develop Hong Kong into an education
\ntechnology (EdTech) centre in the Greater Bay Area, introduce cutting-edge global
\nEdTech proposals, assist corporations with venturing into Asia and beyond,
\nfacilitating collaboration between local enterprises, global EdTech
\ncorporations and investors. Twelve finalists of the Edventures GBA Fellowship
\n2021 which are EdTech start-ups from Israel, Canada, India, Sweden, the United
\nKingdom, the United States, and Hong Kong, will share their EdTech solutions.
\nThe finalists of the Global EdTech Startup Award (China Final) will also be
\nselected at the Summit. Working with the world-renowned venture capital event
\n“Silicon Dragon”, CVCF recruits global investors and start-ups to explore
\nventure investment opportunities, connecting capital, innovation and
\ntechnology, entrepreneurship, and development opportunities.<\/p>\n
\nyear’s Forum debuted the Cyberport FinTech InnoCon yesterday to present
\nin-depth discussions on the development of vertical sectors. The event brought
\ntogether more than 30 representatives from regulatory bodies, professional
\norganizations and start-ups. Under the theme, “Innovation
\nof FinTech Proof-of-Concept for Hong Kong Financial Services Industry”, the Conference deciphered emerging trends and opportunities for
\ntechnology application in various financial services areas, from RegTech,
\nInsurTech and ESG to cross-border finance in the Greater Bay Area. Innovative
\ncase studies on financial institutions and start-ups participating in the
\nFintech Proof-of-Concept Subsidy Scheme were examined at the event to
\nillustrate how innovation between traditional financial institutions and FinTech
\ncompanies create win-win situations. These partnerships promote digital
\ntransformation that further consolidate and enhance Hong Kong’s competitive
\nadvantages as a leading international financial centre, asset management centre
\nand risk management centre.<\/p>\n
\nstart-ups with an all-round platform to explore venture opportunities, more
\nthan 100 online booths will be featured until mid-November as part of the Forum
\nand its series of spotlight events. Through this platform, start-ups can
\nshowcase their innovative technology solutions, participate in investor
\nmatching and put forward project pitches. <\/p>\n
\ninformation about the contents and speaker line-up of Cyberport Venture Capital
\nForum 2021 is available at: <\/p>\n
\nresolution photos, please download HERE<\/a> via this link<\/p>\n
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<\/p>\n The
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<\/p>\n Dr David Chung, Under Secretary for Innovation and
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<\/p>\n Dr
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<\/p>\n Cindy Chow, Chairperson of Cyberport Investors
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