Why Hong Kong start-ups flock to US-based accelerators

By Casey Lau

With only one real accelerator program in Hong Kong (AcceleratorHK focusing mainly on mobile startups, ChinaAccelerator in Dalian and JFDI in Singapore), where is a startup based in Hong Kong to go for seed funding and mentorship?

They go west!

What seems to be a trend nowadays is HK based startups getting into different accelerator programs in the U.S. – which doesn’t seem that surprising seeing as there isn’t much support for brand new startups in Hong Kong financially and we’ve seen Coachbase get accepted into the TechStars x Nike accelerator, StampUp went to a VC-backed accelerator in San Francisco for their enterprise solution startup, Spottly got into 500 Startups and ZaoZao is going to a NYC-based accelerator for their fashion crowdsourcing site.

We all know there is lack of this kind of support in Hong Kong – so its natural that startup teams head to the next place best – the US – where many of the accelerators are opening up to international entrepreneurs which they haven’t in the past.
500 Startups seems the most agressive of the US-based accelerators as they have a person based in Beijing recruiting people to join their upcoming classes. The SoftLayer Catalyst program is a virtual incubator but does help with referrals into the main accelerators in the US when the members want to apply.

But where does this leave Hong Kong? While the teams will return to Hong Kong when their accelerator class ends they will have had plenty of opportunity to talk to investors from the US that are looking to break into the Asia market at this early stage – leaving HK angels and investors out in the cold till they look for a bigger round. And Hong Kong cannot take full claim to building its startup ecosystem because of all the help from another country.

We open this thread to you: Are you considering joining an overseas accelerator program?

___________________

https://www.startupshk.com/hong-kong-startups-flock-to-u-s-based-accelerators/

Also Read

Hong Kong sets GBA mediator standards, requires training

Gov’t assures better business environment under new national security ordinance

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit