Cyberport’s first annual venture capital event, the Cyberport Venture Capital Forum, successfully concluded on October 28, 2022. The forum was held in a hybrid format, bringing together over 100 international venture capital experts, investors, venture capitalists and the Cyberport start-up community for two consecutive days. The forum, along with the Smart Living Venture Day, Startup Workshop and Startup Clinic, attracted around 2,500 attendees and around 110,000 page views on the online platform. He has also facilitated more than 300 individual meetings between investors and start-ups.
Additionally, the Cyberport Investors Network (CIN) 5th Anniversary Celebration was held on the first day and announced Hendrick Sin, Co-Founder, Executive Director and Vice Chairman of CMGE Technology Group Limited, as the new Group Chairman. management of the Cyberport Investors Network.
In the opening morning session, Professor Sun Dong, Secretary for Innovation, Technology and Industry of the Government of Hong Kong Special Administrative Region (HKSAR), delivered the keynote address . Simon Chan, President of Cyberport, then gave the welcome speech, alongside Peter Yan, Managing Director of Cyberport, Cindy Chow, former Chair of the CIN Steering Group and Hendrick Sin, the new Chair of the CIN Steering Group, who co-hosted the opening ceremony and officially kicked off the event.
“As announced by the CEO in his policy speech last Wednesday, we are promulgating the Hong Kong Innovation and Technology Development Master Plan which will set out the future directions and key strategies for the development of I&T in Hong Kong from a high-level perspective,” said Professor Sun Dong, Secretary for Innovation, Technology and Industry of the HKSAR Government in his opening speech. “The government will also create the Office for Attracting Strategic Enterprises which will be headed by the Secretary of Finance to attract strategic enterprises from around the world. We will work closely with this office to attract top-notch I&T companies and talents to Hong Kong in order to strengthen the local I&T ecosystem and boost the development of Hong Kong’s tech industry. I hope you share my enthusiasm for the country’s future. Hong Kong I&T age.
“Technological innovation was one of the main focuses of the recent 20th Party Congress. The central government emphasizes science and technology as our main productive force and innovation as our main engine of growth. In Hong Kong, the latest policy speech laid out forward-looking and targeted measures to boost I&T progress, broaden the pool of tech talent, and attract new representative and high-potential companies to set up shop in Hong Kong. With these new plans in place, we are encouraged by the promising prospects for I&T entrepreneurship,” said Simon Chan, President of Cyberport, in his welcome address. “Cyberport is fully committed to accelerating start-up growth by enhancing essential fundraising capability for entrepreneurs. As a technology investor, Cyberport strategically leverages the Cyberport Macro Fund (CMF) and the Cyberport Investors Network (CIN) to drive investment from local and global arenas, enabling the expansion of startups to the continent and abroad. ‘foreign.
Positive fundraising prospects for Cyberport startups
Despite the sluggish performance of the global venture capital market due to market uncertainties, fundraising for companies in the Cyberport community has gone well over the past year. From October 2021 to September 2022, companies in the Cyberport community raised over HK$15.5 billion, a significant increase of 176% over the same period last year, with a cumulative fund of HK$34.4 billion. Cyberport promoted and facilitated investment matching and supported seed fundraising through the Cyberport Macro Fund (CMF), with satisfactory performance during the same period. From October 2021 to September 2022, Cyberport injected capital via the CMF into three Cyberport start-ups, including GRWTH (EdTech), Wada Bento (FoodTech) and AVALON StreiTech (HealthTech). Since its inception in 2016, CMF has approved a total of 25 projects, attracted co-investment of HKD 1.55 billion (USD 197.5 million) and raised a total of over HKD 1.725 billion (USD 219.8 million USD), with an investment ratio of 1:9.
The 5 of the CINe anniversary and cumulative investments of more than HKD 1.7 billion
The Cyberport Investors Network (CIN) helps the Cyberport startup community raise funds, in addition to providing investment information and experience to promote startup growth and development. From October 2021 to September 2022, CIN facilitated investments of approximately 580 million HKD (73.8 million USD), with annual growth of approximately 80 million HKD (10 million USD). Since its inception five years ago, CIN has maintained over 150 corporate members, including venture capital funds, private equity funds, angel funds, family offices, corporate venture capital and more than 25 investor members from the Greater Bay Area (GBA).
The CIN has facilitated investments of over HKD 1.7 billion (USD 216.5 million) in total, supporting 67 projects in the process. Cyberport is grateful for the excellent leadership of Cindy Chow, Executive Director of Alibaba Hong Kong Entrepreneurs Fund, over the past two years, and announced at the forum that Hendrick Sin, Co-Founder, Executive Director and Vice President of CMGE Technology Group Limited will be the new chair of the Cyberport Investors Network Steering Group.
“My three years in this position have been very rewarding. Although technology investing has seen many ups and downs in recent years, I’m proud to share that, above all, CIN has largely emerged as the winner. We have further strengthened our partnership with the Cyberport Macro Fund to facilitate deal flow and provide more targeted matching,” said Cindy Chow, former chair of Cyberport Investors Networking Steering Group. “The macro-environment will remain difficult in the short term and fundraising for start-ups will remain difficult. Nevertheless, CIN will continue to support the Cyberport ecosystem by attracting more international investors. Meanwhile, we will continue to engage with our members based on their industry interests and appetite to help them identify the right investment opportunities, thereby enhancing the fundraising and trading capabilities of Cyberport start-ups. .
Commenting on the future of CIN, Hendrick Sin, the new Chairman of the Cyberport Investors Network Steering Group, said, “It is indeed an honor and a pleasure for me to take over and continue the vital mission of CIN. We will intensify CIN’s strategic collaboration with its members and strengthen the link between industry organizations and Cyberport start-ups. We will also organize more activities to help start-ups improve their fundraising and negotiation skills. We will amplify our impact by continuing to expand and diversify CIN membership and aligning investors more closely with Hong Kong’s current and future I&T needs. This includes engaging more investors from across the GBA and around the world to review investment opportunities from the Cyberport community.
Analysis of hot topics of I&T and investment
This year’s event focused on revealing new market drivers. There were three key panel discussions, with guests including Rebecca Fannin, founder of Silicon Dragon, an internationally renowned venture capital platform, and representatives from Quest Ventures, Hony Capital, among others. Discussions focused on current macroeconomic trends and the regional political landscape. Duncan Chiu, Member of the HKSAR Legislative Council (Technology and Innovation), along with industry leaders such as Cindy Chow, Executive Director of Alibaba Hong Kong Entrepreneurs Fund, reviewed Hong Kong’s I&T ecosystem . Hendrick Sin, co-founder, executive director and vice-president of CMGE Technology Group Limited, and many other experts gave their opinion on the investment potential of the GBA.
Many sessions were devoted to exploring a number of hot topics in I&T, including Green Finance, HealthTech and MediTech, Metaverse, BioTech, CleanTech, ConstructionTech and Intelligence artificial (AI). Dr. Kai-Fu Lee, Chairman and CEO of Sinovation Ventures and President of Sinovation Ventures Artificial Intelligence Institute, shared his predictions for how our world will be reshaped by AI. Dr. Finian Tan, Founder and Chairman of Vickers Venture Partners, analyzed the latest developments in emerging technologies such as CleanTech, BioTech and other energy sectors.
In case you missed one of the sessions of our more than 100 speakers, the CVCF virtual platform will be open until November 16. All keynotes and panel discussions are available upon request. The platform also features over 100 innovator showcases and powerful pitches from promising startups in Hong Kong and beyond. To register for a free Virtual Pass, visit this website.
For details on the 2022 CVCF program schedule and full list of speakers, please visit here.