Hong Kong is rapidly becoming the world’s leader in innovation, particularly in green technology and sustainable finance. This shift is being fueled by a vibrant ecosystem of startups, forward-thinking investors, and visionary leadership from organizations such as the Hong Kong Science and Technology Parks Corporation (HKSTP).
At its center is HKSTP, which has come to become a platform for high-growth entrepreneurs. By bridging talent with resources, guidance, and networks essential to scale, HKSTP is driving innovations addressing some of the globe’s most pressing issues.
EPiC: More Than a Pitch—A Platform for Global Impact
Among HKSTP’s flagship programs is the Elevator Pitch Competition (EPiC), which has emerged as a magnet for startups globally. Hosted at the famous Sky1000 in the International Commerce Centre, EPiC provides more than exposure—it offers a unique chance for startups to forge significant industry ties and open up actual opportunities.
The mode is swift and ruthless: entrepreneurs have merely 60 seconds to present their concept in a functional elevator. The next step is for the top 10 to proceed to a live pitch and Q&A session of high stakes. At the recent edition, EPiC hosted more than 600 startups from 40 cities and nations, solidifying Hong Kong’s growing status as a center for world-class innovation and technology.
The 2021 competition focused on four areas: FinTech, Green Tech & Construction Tech, Health Technology, and Smart City solutions. The winner of the competition, archiREEF, was the epitome of the event’s focus on impactful innovation. This Hong Kong greentech startup combines marine biology with cutting-edge 3D printing to develop artificial habitats tailored to individual designs that restore ocean ecosystems, showing how deep tech can be used for environmental restoration.
Other winners, including Wizpresso (FinTech), PointFit Technology (Health Tech), and Intelligent Traffic Control (Israel, Smart City), showed the global breadth and diversity of innovation on display.
From Local Stage to Global Arena: HKSTP at COP28
HKSTP’s aspirations extend far beyond the city limits. In a first-ever move, it organized its first startup delegation to COP28 in Dubai, one of the world’s most powerful climate summits. Putting Hong Kong on this international platform, startups such as archiREEF, Halo Energy, and i2Cool presented pioneering green technologies for climate resilience and sustainability.
HKSTP’s Chief Corporate Development Officer, Ir Dr HL Yiu, described the experience as transformative:
“COP28 opened enormous doors for HKSTP and our Park businesses to ride global sustainability waves and newer climate agendas.”
The delegation also pioneered closer Belt and Road collaboration, most notably with the Middle East markets, presenting fresh opportunities for growth in Hong Kong’s innovation ecosystem.
Sustainable Finance: Powering the Green Tech Wave
Green innovation is not all about technology—it’s also a matter of capital. This is where green finance comes into play. Specialists like Luying Gan, who has over a decade of experience leading Asia-Pacific’s green capital markets, are assisting in bridging policy and innovation. Her trailblazing work—facilitating over $15 billion of historic cross-border transactions—has played a pivotal role in mobilizing capital to climate action, infrastructure, and adaptation.
As the world’s green finance market grows increasingly large, Hong Kong is positioning itself to become a global hub of sustainable finance, magnifying the reach and influence of its indigenous green technologies.
Hong Kong’s Green Future: Ready for Global Leadership
The confluence of finance, innovation, and international partnerships is propelling Hong Kong’s transformation into a climate tech and sustainability powerhouse. With the Greater Bay Area and Belt and Road markets at their doorstep, homegrown startups can scale regionally and indeed globally.
The pace is unmistakable: Hong Kong is not merely playing a role in global climate innovation—it’s defining the future of it.
