Hong Kong’s Cybeport became a favored hub for more than 150 Web3 companies last year

Cyberport has already gathered the largest community of FinTech firms in Hong Kong

Hong Kong landscape
Cyberport is a technological park backed by the government of Hong Kong

Yesterday, Paul Chan, Hong Kong’s financial secretary, shared promising statistics about the city’s Cyberport. According to Chan, the government-sponsored technology park signed up over 150 Web3 companies in 2022.

"The development of innovation and technology is the core theme of Hong Kong's future development," Chan wrote. The secretary reported that the government had invested almost $200 billion since the establishment of the Innovation, Technology, and Industry Bureau (the former Innovation and Technology Bureau) in 2015.

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Promotion and financial support from Chan himself, who allocated HK$50 million worth about $6.39 million to Cyberport, one of the city’s "flagship of innovation and technology."

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"There are currently more than 1,900 community enterprises in the Cyberport project," Hong Kong’s secretary says in his blog post. Although Chan does not give the exact names of the Web3 companies operating under the hub, he mentions one of the six most notable projects, a smart logistics startup that "was successfully listed on the Hong Kong Stock Exchange last year." Another of the six "unicorns" mentioned by Chan is a travel platform that is already preparing for a listing.

Chan adds, "One of the companies in the Cyberport community became the second virtual asset trading platform in Hong Kong to be licensed by the Securities and Futures Commission last year."

In total, more than 150 companies specializing in blockchain technology were established under Cyberport in 2022.

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According to Cyberport's official website, the tech hub is also home to "the largest FinTech community in the territory," represented by "over 380 FinTech companies that are engaged in such diverse areas as blockchain, cybersecurity, AI, big data, wealth management, and transaction engineering."

Meanwhile, Cyberport hosted its first on-campus Web3 Connect event today.