"2024 Cyberport Venture Capital Forum" builds a new vision for venture capital

Hong Kong, 25 October 2024 – Cyberport’s annual venture capital event, the “2024 Cyberport Venture Capital Forum” (the Forum), concluded successfully today. Themed “Innovation Challengers: Building a New Vision for Venture Capital”, the two-day Forum brought together a number of international venture capital experts, industry leaders, investors and startup representatives from the Cyberport community. The Forum, together with the highlight event “Web3.0 Innovation Expo”, a series of startup workshops and startup clinics, attracted more than 2,600 participants and a total of 150,000 visits to the online platform, both breaking records. One-on-one meetings were arranged for investors and startups on site, with an enthusiastic response and more than 350 financing matching sessions.

Following the first day of the forum where many industry experts shared their insights on the field of innovation and entrepreneurship, the second day of the event held a "Startup Workshop", where SoGal Venture Capital Managing Partner Sun Yiqing and Alumni Ventures Executive Partner Ron Levin shared their unique insights and practical experience with startups, discussing the practical problems encountered in raising funds in a challenging market and how to overcome the various obstacles in mature and emerging industries, analyzing new perspectives on venture capital, and helping startups resolve the difficulties and challenges encountered in entrepreneurship financing.

During the forum, there was also an "Investor Matching" session, which matched investors and startups with suitable partners based on their technology fields and investment preferences to promote enterprise matching. In addition, the venue also has about 40 innovative technology demonstrations and more than 100 virtual innovative technology demonstrations, allowing start-ups to showcase their products and services and communicate with investors and the industry from all over the world. The second day of the forum focused on a number of Web3.0 focus activities, bringing together local and global industry experts, corporate representatives, investors, Cyberport Web3.0 community members, and representatives of major blockchain ecosystems to exchange and share valuable insights. Including in-depth understanding of how Web3.0 reshapes the industry landscape, promotes innovation and creates new opportunities, and at the same time learn how to use these technologies to maintain competitive advantages in a rapidly changing market.

Mr. Chan Ho-lim, Under Secretary for Financial Services and the Treasury (FSTB), said in his speech: "Hong Kong ranks third in the Global Financial Centres Index and first in Asia. Many financial institutions choose to set up their regional headquarters or largest regional operations in Hong Kong, which means that Web3 companies can easily access a large number of potential customers, investors and business partners here, making Hong Kong an ideal place for them to start and expand." He pointed out: "Our philosophy is clear - only by providing a transparent, certain and predictable regulatory environment can we effectively encourage financial innovation. Last June, we introduced a licensing system for virtual asset trading platforms, marking an important milestone."

Chan Ho-lim added that later this year, the SAR Government will legislate on the implementation of a regulatory system for stablecoin issuers to build a security framework for this emerging market. In addition, the Treasury Bureau will conduct a second round of consultation on the regulation of over-the-counter transactions of virtual assets and put forward a proposed licensing system to regulate virtual asset custody service providers to ensure the safe custody of digital assets in accordance with international standards.

Cyberport’s Chief Public Mission Officer, Mr. Raymond Chan, said in his welcome speech at the “Web3.0 Innovation Expo”: “Web3.0 technology is an innovative field with huge potential and has attracted the attention of many investors. The Hong Kong SAR Government is committed to accelerating the development of the relevant ecosystem and aims to promote Hong Kong to become a Web 3.0 hub. Cyberport has the largest Web 3.0 community in Hong Kong. Earlier, it also established the “Web3.0 Investment Circle” under the Cyberport Investor Network (CIN). It is believed that in the future, it will promote more Web 3.0 investment matching and explore new business opportunities for the Cyberport community, lead the industry to have in-depth discussions and discover innovative technologies, thereby enhancing the influence of Hong Kong start-ups.”

Cyberport’s Chief Corporate Development Officer, Ms. May Chu, shared the experience of Cyberport’s Web3 The latest development of the base said: "Cyberport has been committed to stimulating innovation and promoting cooperation and exchange in the field of Web3.0, and has made ideal progress so far. As of September this year, we have gathered more than 270 Web3.0 companies from Hong Kong, mainland China, Europe and the United States, demonstrating the diversity and vitality of our Web3.0 community. Artificial intelligence (AI) is increasingly integrated into the field of Web3.0, and more and more AI technologies are being integrated into Web3.0 and different industry applications. In order to grasp the general trend of AI, the SAR government has allocated HK$3 billion to launch an artificial intelligence funding program through Cyberport to inject momentum into local scientific research and AI research and development, promote more scientific research breakthroughs, and work with the industry to promote Hong Kong towards an international innovation and technology center."

The Digital Visionaries Symposium 2024: Technology Stage, hosted by EmergentX, was also held simultaneously at the branch venue this afternoon. The event held multiple interactive sessions and panel discussions, with speakers from top technology experts, who explored in depth the transformational application cases of enterprise integration and disruptive technologies such as AI and blockchain, and explored how to use these technological advances to drive business forward.

To review the content and speaker lineup of the 2024 Cyberport Venture Capital Forum, please visit the website

https://cvcf.cyberport.hk/tc/index 

For media enquiries, please contact:

About Cyberport

As Hong Kong's digital technology flagship and incubator, Cyberport brings together more than 2,100 community enterprises, including more than 900 resident and more than 1,200 non-resident start-ups and technology companies. It is managed by Hong Kong Cyberport Management Company Limited, which is wholly owned by the Hong Kong Special Administrative Region Government. Cyberport's vision is to inject new impetus into the development of the digital economy and smart city with innovative technology, and to lead enterprises to connect domestic and overseas markets. Cyberport is committed to creating a thriving innovation and technology ecosystem by nurturing innovative technology talents, encouraging young people to start businesses, and supporting start-ups; promoting the development of the technology industry through collaboration with local, Mainland and international strategic partners; and accelerating the adoption of digital technology by public and private organizations to implement digital transformation and promote the integration of the new economy and the traditional economy.

For details, please visit www.cyberport.hk