Retail in Asia

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Hong Kong as innovation hub. An interview with TusPark Hong Kong


In partnership with StartmeupHK Festival, Retail in Asia had the pleasure to interview Sam Wong, General Manager of TusPark HK.

TusPark, standing for Tsinghua University Science Park, is the key platform for technology transfer and business incubation for extending the social function of Tsinghua University. As a mission, TusPark Hong Kong was established to facilitate the growth of  startup ecosystem and to cultivate technology entrepreneurial culture in Hong Kong.

With over 300 tech innovation spaces covering more than 80 cities in China and Overseas, TusPark builds a global and industrial network for technology innovators and entreprenuers. TusPark also forms a network for professional institutions, investors and universities which covers whole industrial chains, so as to bridging the gap between technology innovation and business commercialization.

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RiA: Hong Kong has always been a startup innovation hub and offered a great platform to reach the rest of the region. How has its role evolved during the years and what’s the positioning within the GBA’s project?

Sam: Hong Kong is an international innovation hub and ideal springboard for startups, scale-ups, tech ventures and entrepreneurs to land with its well-established infrastructure, connectivity and financial system. We also have one of the most friendly business environment in the world, eg. Tax and legal system.

Over the years, Hong Kong had obviously transformed to a more diversified ecosystem while more and more technology companies have become successful across different sectors. More young people also considered being an entrepreneur to be one of the choices on their career path. Government has put enormous efforts in supporting the ecosystem with different policies and initiatives also.

Positioning as Super Connector, Hong Kong would promote the GBA initiative overseas and attract more capital and talents, and also take advantage of its financial leadership and of the opportunities offered by the GBA cities in terms of market reach, industrial system, and technological developments.

Source: Shutterstock

RiA: As you are at the fore-front of innovation, working with startups across different sectors, what are the main areas of innovation?

Sam: TusPark is a global innovation ecosystem builder that connect entrepreneurs, tech ventures, venture capital, corporate, industries leaders, research institutions, talents and governments. Innovation in the implementation and application of fintech, blockchain, artificial intelligence, data analytics, robotics, internet of things, digital transformation across industries are our main focuses.

RiA: In which sectors do you see Hong Kong’s potential to be a true catalyst?

Sam: Develop Hong Kong as the hub for global research collaboration and industry applications:

Health Tech: healthcare-related technologies, drug discovery, personalized medicine, molecular diagnostics, bioengineering, chemical biology, bioinformatics, vaccine development, medical instrumentation, alternative medicine etc.

Artificial Intelligence and Robotics technologies: as applied to areas like financial services, smart city and advanced manufacturing, cover big data analytics, machine learning, cognitive systems, intelligent agents, classification for diagnosis, medical robotics, mobile robots and assistive / service / construction robots etc.

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RiA: What are the opportunities for startups willing to choose HK as their HQ?

Sam: Further reform and opening of China Economy under the GBA Plan. Hong Kong is the best location to connect China and Asia and capture both side opportunities.

For long term consideration: Low Tax Regime and best financial market in Asia.