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Good practice Imported

Cyberport — Hong Kong's Government-Backed Digital Technology Flagship

Hong Kong · Hong Kong · See the Hong Kong profile · See the Hong Kong profile

Evidence: Descriptive / self-reported Top 29% 76/100 · Ask Evidence Copilot about this practice

Government-owned tech estate in Hong Kong incubating over 2,200 companies, with 10 unicorns and HKD 3.7 billion raised by community startups in FY2024/25 alone.

3.7 HKD billion
Community start-up funding raised (year to Sep 2024) (FY2024/25)
41.2 HKD billion
Cumulative funding raised by community companies (to FY2024/25)
2200 companies
Resident/affiliate companies (FY2024/25)
14000 jobs
Technology jobs supported (FY2024/25)

Details

Maturity
Established
Promoter
Hong Kong Cyberport Management Company Limited
Period
1999–present
Keywords
digital technology, fintech, venture capital, incubation

Context

Cyberport is a government-owned digital-technology flagship and incubator on Hong Kong Island, combining campus space, seed and growth funding, and market-access support for start-ups in fintech, AI, green tech and smart living, operating since 1999.

Objectives

Build a low-tax, government-anchored innovation ecosystem pairing direct seed investment with incubation and international market-access events to grow Hong Kong's digital-technology sector.

Activities

The FY2024/25 Annual Report records a community of over 2,200 companies (around 900 onsite, 1,200 offsite); around 470 new enterprises landed at Cyberport in 2024; a fifth campus expansion phase (Cyberport 5) topped out in late 2024 to accommodate continued growth.

Results

Community start-ups raised over HKD 3.7 billion in the year to September 2024 (+23% year-on-year), taking cumulative funding past HKD 41.2 billion; the community includes 11 listed companies and 10 unicorns (two reaching USD 1.3bn and USD 2.5bn valuations), supporting 14,000+ technology jobs.

Conclusions

The model has sustained growth for over two decades, though its transferability rests partly on Hong Kong's specific tax and financial-hub advantages, which are not easily replicated elsewhere.

Implementation
Indicative cost
Very high (> €5M) — Exact capital cost is not disclosed in available sources; the campus has undergone five expansion phases since 1999, most recently 'Cyberport 5' topping out in late 2024 — treated as a very-high-cost, government-funded infrastructure programme pending a disclosed figure.
Time to results
Long (> 3 years) — Operating continuously since 1999 (25+ years), with the fifth campus expansion phase completed in 2024.
Staffing & skills
Hong Kong Cyberport Management Company Limited (government-owned operator), Resident start-up companies and incubation staff

Conditions for success

  • Sustained government capital investment across multiple campus expansion phases
  • A low-tax, financial-hub policy environment
  • Direct seed/growth funding programmes alongside physical incubation space
  • International market-access events (e.g. Venture Capital Forum) connecting start-ups with investors

Where it fits

Governance type
government-owned corporation
Scale
citywide flagship campus (Hong Kong)

Commonly funded by

National / regional programmes

Indicative funding routes for practices of this type — always check each programme's current calls and eligibility rules.

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Data sources

Where this practice's information was retrieved from, and when.

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