The Cyberport Venture Capital Forum 2024, a premier annual event in the global venture capital scene organized by Cyberport, was inaugurated today.
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The two-day Cyberport Venture Capital Forum event, themed “Innovation Challenger: Building New Venture Visions”, brings together over 90 globally influential venture experts, entrepreneurial visionaries, and innovative thinkers.
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They explore the future of innovation and entrepreneurship from fresh perspectives and delve into how emerging technologies such as Web 3.0 and artificial intelligence (AI) can help companies and investors break through in the rapidly evolving venture capital market, creating new opportunities.
Strategic initiatives and funding support from the HKSAR Government are undoubtedly crucial for the development of the local I&T sector. Legislative Council Member Honourable Duncan Chiu, along with representatives from CUHK Innovation Limited, the Knowledge Transfer and Entrepreneurship Office of the Hong Kong Polytechnic University, and Beyond Ventures, as well as Hendrick Sin, Chairman of Cyberport Investors Network (CIN) Steering Group; Co-Founder & Vice Chairman, CMGE Technology Group Limited, and Founding Partner, China Prosperity Capital, joined business leaders to discuss the latest measures, strategies, and support from the HKSAR Government in supporting the development of the local I&T sector.
Meanwhile, Cyberport also celebrated the 7th anniversary of Cyberport Investors Network establishment, and Cyberport start-ups’ fundraising achievements.
During the Cyberport Venture Capital Forum, Professor Sun Dong, Secretary for Innovation, Technology and Industry of the HKSAR Government, delivered the opening remarks; while Simon Chan, Chairman of Cyberport, presented the welcoming address. Hendrick Sin, Chairman of the Cyberport Investors Network (CIN) Steering Group, Co-Founder & Vice Chairman of CMGE Technology Group Limited, and Founding Partner of China Prosperity Capital, reviewed the impressive journey and achievements of CIN over the past seven years. Together with other guests, they officiated the opening ceremony, marking the official start of this eagerly awaited global forum.
Professor Sun Dong, Secretary for Innovation, Technology and Industry of the HKSAR Government, said in his remarks, “CVCF has been ‘connecting visionaries and cultivating the future’. It gathers the brightest minds from the innovation and technology (I&T) and the venture fund worlds, to brainstorm fresh ideas and approaches on how to support our start-ups in generating more breakthrough and new solutions. The Chief Executive announced a series of new and exciting I&T initiatives in his Policy Address last week to inject impetus into our I&T ecosystem. We will set up a $10 billion I&T Industry-Oriented Fund to channel more market capital to invest in specified emerging and future industries of strategic importance and optimize the existing Innovation and Technology Venture Fund by redeploying $1.5 billion to set up funds jointly with the market on a matching basis to invest in Hong Kong’s start-ups ecosystem. We will also launch the Pilot I&T Accelerator Scheme which aims to attract professional start-up service providers with proven track records from local and outside Hong Kong to set up accelerator bases in Hong Kong, thereby fostering the robust growth of start-ups.”
Simon Chan, Chairman of Cyberport, stated in his welcoming speech: “The Policy Address delivered last week outlined plans for increased investment and guide more market
capital initiatives, including the establishment of a HK$10 billion I&T Industry-Oriented Fund and the launch of the I&T Accelerator Pilot Scheme. These initiatives aim to enhance investment in the I&T sector and accelerate its overall development. As Hong Kong’s digital technology flagship and incubator for entrepreneurship, Cyberport will continue to align with the strategies of the HKSAR Government. Through international events like the CVCF, we aim to further leverage Hong Kong’s unique role under the Belt and Road Initiative, fostering cross-border collaboration and supporting start-ups in exploring business opportunities in the Greater China, ASEAN and Middle East regions.”
During the Cyberport Venture Capital Forum, Cyberport announced the signing of a Memorandum of Understanding with Draper Dragon to jointly establish the “Cyberport x Draper Dragon Web 3.0 Accelerator Programme”. By integrating Draper Dragon’s Silicon Valley incubation experience with Cyberport’s thriving Web3.0 ecosystem, the collaboration aims to accelerate industry development across talent cultivation, project incubation, and investment, connecting Silicon Valley and Hong Kong’s related industries.
Draper Dragon will also select suitable projects from Cyberport start-ups that completed the Accelerator Programme to invest in, enhancing innovation efficiency and aligning Hong Kong Web 3.0 innovation with international standards. The agreement signing was witnessed by Simon Chan, Chairman of Cyberport, and Larry Li, Managing Partner of Draper Dragon. It was signed by Ir Eric Chan, Chief Public Mission Officer of Cyberport, and Richard Wang, Partner of Draper Dragon.
Another highlight of this year’s Cyberport Venture Capital Forum is exploring how emerging technologies such as Web 3.0 and artificial intelligence are driving market momentum. Jupiter Zheng, Partner at HashKey Capital, a member of the Cyberport Web3.0 Investment Circle, analyzed future investment opportunities in the Web3.0 industry, while Richard Wang, Partner at Draper Dragon, emphasized the importance of supporting Web3.0 infrastructure and practical applications.
Web3 Spotlight Events Taking the Stage throughout the Second Day of the Forum As a continuation of the conversation from CVCF, several Web3-focused events will follow,
including the Web3.0 Project Demo Day – Inno Ignite, organized by BlockBooster. Start-ups at the forefront of the Web3 revolution will showcase their innovative projects at this Cyberport Venture Capital Forum, revealing the unlimited potential of Web3 technology to attract funding. Participants will be able to interact with entrepreneurs and explore various investment opportunities for collaboration.
The second day of the Cyberport Venture Capital Forum will feature the “Web3.0 Innovation Expo”, featuring over 15 global Web3.0 real-life use cases spanning digital payment, supply chain finance, digital identity authentication, financial innovations, sustainability, cultural preservation, etc. from various regions including Africa, Europe, South East Asia, and local Hong Kong. Industry experts will share blockchain success stories and valuable insights. Attendees will engage with corporate representatives, investors, Cyberport Web 3.0 community members, and key blockchain ecosystem representatives to explore how Web 3.0 is reshaping industries, driving innovation, and creating new opportunities.
Alongside Cyberport Venture Capital Forum, as a sub-stage of the Web 3.0 Innovation Expo, the Digital Visionaries Symposium 2024 will feature interactive sessions and panel discussions led by leading technology experts. It will delve into enterprise integration and transformative use cases of disruptive technologies such as AI and blockchain.
About Cyberport Venture Capital Forum
Cyberport Venture Capital Forum 2024 provides start-ups with an unparalleled opportunity to showcase their innovative technology to the public at over 20 on-site
Innovator Showcases. Investor Matching allows start-ups to network personally with potential investors. At Start-up Clinic & Workshop, start-ups can acquire free consultation or practical tips on company setup and operation to equip themselves for entrepreneurship
