Hong Kong signs MOU with Austria to grow startup ecosystem

Hong Kong is working with Austria to grow its startup ecosystem, signing an agreement this week.

The agreement will see start-ups, incubators, venture capital funds and startup-promotion agencies linking across both countries.

Hong Kong and Austria have agreed to collaborate on the exchange of expertise and knowledge on the local start-up economy.

They will also cooperate to market their start-ups in relevant international markets. Nicholas Yang, Secretary for Innovation and Technology of Hong Kong, also visited a smart city initiative on elderly care during his trip to Austria.

Hong Kong announced a fund of US$257.7 million in its Budget this year to invest in local startups and another US$64.4 million to fund smart city projects. Image by Jo Schmaltz, licensed under CC BY-SA 2.0