Hong Kong has long been at the forefront of Asian entrepreneurship and innovation, with its thriving startup environment bolstered by several incubators and accelerators. These benefit startups by providing support such as mentorship, network connections, working space, and investment opportunities.
In helping entrepreneurs navigate their way towards the most suitable incubators and accelerators, this article provides a list of top 5 incubators/accelerators in Hong Kong in 2024:
- Cyberport
- The Hong Kong Science and Technology Parks Corporation (HKSTP)
- Brinc
- HKAI LAB
- Hong Kong Startup Council
1. Cyberport
Owned by the Hong Kong SAR Government, Cyberport is one of the driving forces for Hong Kong digital technology development. It offers various programs aimed at cultivating talents, supporting start-ups, and promoting industrial and economic growth.
Cyberport entrepreneurship programs target entrepreneurs in the industries of Smart Living, FinTech, E-Sports and Digital Entertainment, AI, Big Data, Blockchain, Cyber Security, and Corporate Services at various stages:
Source: Hong Kong Cyberport Management Company Limited
Cyberport’s Creative Micro Fund offers financial support to creative projects and startups in Hong Kong. It’s tailored for ventures in digital media, entertainment, design, and tech, providing seed capital to fuel innovation and entrepreneurship in these industries.
The details for other sub-programmes are listed below.
Cyberport Incubation Programme
Who is this for?
Early-stage Hong Kong registered digital tech company limited by shares (or in progress of incorporation) and incorporated in Hong Kong less than 7 years upon application deadline.
Programme Benefits
Up to HK$500,000 (≈ US$64,000) financial assistance including:
- HK$100,000 (≈ US$13,000) Initial Working Capital Grant
- Up to HK$200,000 (≈ US$25,500) grant to be allocated upon completion of Six-monthly Progress Reviews
- Up to HK$200,000 (≈ US$25,500) for Performance-driven 2-Tiered Assessment
- Rent-free working space (only for incubatees who chose to work on-site at Cyberport)
- Free use of Cyberport shared meeting rooms, conference rooms, co-working spaces, and other facilities
- Meetings with entrepreneurs and investors, and networking opportunities
Application Procedure and Selection Criteria
After submitting an online application form, the applicants will be screened and selected based on five main criteria, namely:
- Market viability with milestones and contribution to Cyberport’s strategic clusters.
- Quality and competence of the management team.
- Business scalability.
- Functional prototype or product secured by design or to solve a real problem.
- Innovativeness and social impact.
If you are interested in the programme, please refer to Hong Kong Cyberport Management Company Limited – Application process for further application guidelines.
Cyberport Accelerator Support Programme (CASP)
Who is this for?
Cyberport existing or graduated incubatees, or Cyberport Creative Micro Fund (CCMF) grantees as per Hong Kong Cyberport Management Company Limited – FAQ
Programme Benefits
The Cyberport Accelerator Support Programme offers a maximum of HK$300,000 (≈ US$38,500) for: 75% subsidy on accelerator programme fees, office rental, marketing and promotion, professional services, travel, and accommodation, as well as 50% subsidy for interns.
Application Procedure and Selection Criteria
Applicants shall first submit a CASP online application form. They will then be vetted to ensure all requirements are met before the final selection is announced.
If you are interested in the programme, please refer to Hong Kong Cyberport Management Company Limited – Cyberport Accelerator Support Programme for further application guidelines.
Overseas/Mainland Market Development Support Scheme (MDSS)
Who is this for?
Cyberport incubatees, grantees or alumni from the CCMF and/ or CIP. This programme also focuses on HKCMCL incubatees, grantees, or alumni from CIP and CCMF who have not raised equal to or more than US$10M of funding in total on the date of filing a reimbursable claim can also qualify for this Scheme.
Programme Benefits
A maximum of HK$200,000 (≈ US$25,500) for up to 75% of eligible expenses, which are the following: Market Development Activities for Overseas/Mainland Market, including Delegation mission to Overseas/ Mainland, Marketing exhibition/ conference/ event, Landing service for Overseas/ Mainland market expansion, and online/ offline marketing services for Overseas/ Mainland market expansion.
Application Procedure and Selection Criteria
The application criteria are the same as the previous programme. After submitting an online application form, applicants shall carry out the Market Development Activity. They can claim the eligible Market Development Activities after such services incurred and paid and within the financial assistance period by submitting the Expenses and Post-Programme Evaluation Form, together with supporting documents.
For further detail, please refer to Hong Kong Cyberport Management Company Limited – Overseas/Mainland Market Development Support Scheme (MDSS)
Cyberport Macro Fund
Who is this for?
Scalable digital technology companies with operations based in Hong Kong, which also bear one of the following identities: Incubatees or graduates of Cyberport’s other programmes; Cyberport Smart-Space companies; or Cyberport office tenants.
Investment Amount
Between HK$1M (≈ US$130,000) to HK$20M (≈ US$2.5M) for Cyberport’s accumulative investment per new investee. Total equity from the CMF shall be less than 20% post investment throughout the life cycle of the digital entrepreneur.
Application Procedure and Selection Criteria
Following the online application form submission, applications will be selected based on three main areas, namely:
- Thorough business assessment includes compliance, governance, financial position and business viability.
- Potential return on investment.
- Proven involvement in the Cyberport community.
For further details, please refer to Hong Kong Cyberport Management Company Limited – Cyberport Macro Fund.
2. The Hong Kong Science and Technology Parks Corporation (HKSTP)
The HKSTP is a government-owned organization established to fuel Hong Kong technology and innovation growth. To date, HKSTP has facilitated the success of 850+ incubation graduates, among which 80% are still in business, and 4 have filed an IPO. The corporation operates programmes that assist startups in reaching their goals, ranging from the earliest stage of entrepreneurship – Ideation, to Incubation, Acceleration, and Elite programmes.
Ideation
Who is this for?
Participants with innovative Technology start-up ideas, supported by R&D and business planning, in the early stage of their entrepreneurial journey.
Programme Benefits
- Seed Funding: Up to HK$100,000 (≈ US$13,000) financial grant
- Coaching: A dedicated account manager to accompany you on your startup journey.
- Training: Topics include Market Validation, Business Modelling, Pitching, etc.
- Center Facilities: Co-working space access
- Potential to bridging programmes: Prepare for HKSTP incubation programmes admission.
Application Procedure and Selection Criteria
To apply, applicants shall submit the application via ‘Apply Now’ using the template provided. Shortlisted ones will then undergo the Panel Assessment. If you are interested in the programme, please refer to The Ideation Programme | HKSTP for further guidelines.
Incubation
Who is this for?
The HKSTP Incubation Programme is divided into 2 sub-programmes, namely General Incubation and Incu-Bio. The former is for startups of 5 years or less specializing in deep tech research to develop innovative solutions, whereas the latter is for startups of 2 years or less focused on diagnostic, therapeutic, medical device, or other biomedical areas.
Programme Benefits
- For General Incubatees, the programme will offer Account Management, Technical Support, Business Support, and Financial Support of up to HK$1.29M (≈ US$166,000) to cover your technology and business development expenses.
- For Incu-Bio Incubatees, the programme will offer Workspace Support, Technology Support, Business Support, and Financial Aid of up to HK$6M (≈ US$770,000).
Application Procedure and Selection Criteria
- For General Incubatees, the procedure commences with an Online Application Submission, followed by Due Diligence Meeting and Admission Panel Meeting (10 Mins Presentation + 10 Mins Q&A). For further information, please refer to Incubation Programme | HKSTP.
- For Incu-Bio Incubatees, they shall submit a business proposal outlining their innovation and technology, business model, team and four-year milestone plan. After providing the required documents to support the application, the applicants will undergo an eligibility check conducted by an assessment panel of independent experts. Please refer to Incu-Bio (hkstp.org) for further guidance.
Acceleration
Who is this for?
Growth-stage company looking to scale globally, engaged in a technology intensive business, such as: Information Technology & Telecommunication; A.I and Robotic; Electronics; Fintech; Biotechnology; Precision Engineering; Green Technology.
Programme Benefits
Successful applicants will be offered Fundraising Support of Financial Support of up to HK$4.8M (≈ US$615,000) in subsidies, Business Development Support, Professional Services Support, and the opportunity to Accelerate to the Next Stage.
The programme requires entering the SAFE (Simple Agreement for Future Equity).
Application Procedure and Selection Criteria
Once the online application form with all the required supporting documents is submitted, the application will undergo evaluation by the Admission Panel. More information can be found at The Acceleration Programme | HKSTP
Elite
Who is this for?
Robust growth potentials who target to further groom the business and eventually become a unicorn.
Programme Benefits
The programme provides Financial Support of up to HK$21.5M (≈ US$2.8M), Fundraising Support, Business Development Support, Professional Services Support, and Infrastructure Support.
The programme requires entering the SAFE (Simple Agreement for Future Equity)
Application Procedure and Selection Criteria
Applicants shall submit the current company overview presentation through the programme enquiry. Selections will be made based on the applicant’s business plan; financial resources and performance; technology and R&D plan; management capacity and team competencies; and the applicant’s contribution to the ecosystem.
More information can be found at Elite Programme | Funding | Unicorn | IPO | M&A | Science Park | HKSTP
3. Brinc
Brinc is a venture capital and accelerator firm based in Hong Kong with a global footprint. It focuses on entrepreneurs with innovations and approaches that can solve the world’s biggest challenges. Brinc’s acceleration programs are divided into 8 sub-programs, namely Artificial Intelligence, Climate Tech, Gaming, Hardware & IoT, Health, Web3, A4X, and Enterprise SaaS. The first six programs are available for Hong Kong, Singapore, and global startups, while the other two are active in India.
Who are these programmes for?
Early-stage founders who are operating in an industry directly linked to the specific project they are applying for.
Programme Benefits
- Participants can attract investments of a maximum US$100,000 (For Decentralized Health and Artificial Intelligence), US$150,000 (For ZK Advancer of Web3 and Health Innovation), and US$200,000 (For Gaming, and Climate Tech).
- The programs also offer Mentorship, Customized Curriculum, Strong Network Connections, Ongoing Support, and other Perks.
- The programme requires a token grant of 2% of the company’s total token grant supply, and a US$35,000 program fee.
Application Procedure and Selection Guidelines
The application is straightforward. Applicants can choose from a list of accelerator programs and quick apply via apply to Global Venture Accelerator Programs at Brinc. For further information, please refer to Accelerators Programs – Brinc for further guidelines.
4. HKAI LAB
HKAI LAB is a platform focused on advancing the frontiers of Artificial Intelligence with innovative technologies and expertise, and empowering startups to develop and commercialize their AI inventions and technologies. Its acceleration program lasts 12 months, with 2 cohorts running annually. The focus is on commercializing AI inventions and technologies developed at the lab.
Who is this for?
Early-stage startups with a team, and engaging in research, development, and application of AI.
Programme Benefits
The selected companies are eligible to be evaluated by Alibaba Hong Kong Entrepreneurs Fund (AHKEF) and/or SenseTime to get their funding support. However, it is not a guaranteed investment. They can also gain access to:
- Extensive investor network
- Proprietary ai technologies
- Strong advisory, network, and business opportunities
- Dedicated support and resources
- Office space
Application Procedure and Selection Criteria
Applicants shall submit the online application form with the required supporting documents including, but not limited to a business plan; CVs of the founders; and the certificate of incorporation of the company. Following that, the Selection Panel will vet the applicants and invite the shortlisted ones to an interview. Selections will be made based on the applicants’:
- Depth Of R&D
- Innovation Quotient
- Viability Of Business Plan
- Competence Of the Founding Team
Further information can be found at HKAI Lab Accelerator Program – HKAI LAB (hongkongai.org)
5. Hong Kong Startup Council
Hong Kong Startup Council is a platform devoted to ramping up the growth of early-stage and growing startups by connecting them with seasoned industrialists, like-minded innovators, investors, the R&D sector, and the youth. Startups can obtain resources from the STARS Programme, which is a mentorship and partnership-centric programme on a zero-equity basis.
Who is this for?
Since its inauguration, the STARS Programme has hosted 5 cohorts with specific themes, namely: “Internet of Things” (IoT); “Smart Energy and Eco-Home”; Toys and Electronics Industries; Food Technology; PropTech + ESG.
Programme Benefits
Selected Startups can expect to receive:
- SYNERGIES: Accelerate the development of startups and enhance the competitiveness of the Hong Kong industries.
- TRAINING: Tailored mentorship programme and workshops developed and delivered by industry experts.
- ANGELS: Opportunities to meet angel investors from valuable networks, specifically business and investor matchings,
- RESOURCES: Dedicated one-stop platform providing technologies and services
- SUPPORT: Build your business through expanding plans and go-to-market opportunities
Application Procedure and Selection Criteria
Since the featured topics vary from cohort to cohort, interested startups are encouraged to stay updated by regularly checking the programme website (Hong Kong STARTS Programme).
Disclaimer: Information accurate as of June 7, 2024. This content is for general informational purposes only. Always refer to the official website for the most current and authoritative information. We are not liable for decisions based on this potentially outdated information. The linked website remains the primary and authoritative source for all updates and details.
