According to the 2024 Startup Survey released by Invest Hong Kong, both the number of startups and their employees have reached record high—underscoring the ecosystem's vitality. Let’s take a closer look at the key findings:1. Record high in the total number of startupsThe total number of startups in Hong Kong soared to 4,694 in 2024, marking a 40% increase compared to 2020.2. Record high in the total numberof employees recruited by startups Startup hiring has been on the rise since 2021. In 2024, startups recruited 17,651 employees—a 65% jump from 2020.3. Continuous growth in locations of co-working spaces/incubators/acceleratorsSince 2020, the number of co-working spaces/incubators/accelerators grew by 18%, rising from 116 to 137 locations.4. Attraction of non-local talentsNon-local founders made up 28% of Hong Kong’s startup community in 2024. Among them, 40.3% originated from Mainland China.5. Most startups are engaged in the FinTech sectorThe FinTech sector ranks the top in terms of number of startups in 2024 with 619 such companies. Apart from the leading industries such as Infomration, computer & technlogy and E-commerce, noteworthy growth has been observed in Health & medical and Sustainable technology / Green technology, reflecting a heightened focus on personal health and sustainability.Interested in starting your own business in one of the fast-growing industries? Here below are some useful resources:GovHK - Starting a Business (Financing & Planning)Support and consultation Centre for SMEs of Trade and Industry Department website - Business Start-up Information ServiceWe Venture website SourcesStartmeupHK website - Hong Kong’s Startup EcosystemInvest Hong Kong’s 2024 Startup Survey

The Social Innovation and Entrepreneurship Development Fund (SIE Fund) has appointed four organisations as the third batch of intermediaries in 2023 to run a new round of innovative programmes to provide support for more social entrepreneurs. By promoting social innovation and entrepreneurship, it enables more social entrepreneurs to address social needs through innovative ideas, products and services, and assists the Government in formulating targeted poverty alleviation initiatives. The four intermediaries appointed are Fullness Social Enterprises Society Ltd, the Hong Kong Council of Social Service, MakerBay Foundation Limited and Oxfam Hong Kong.The four intermediaries are knowledgeable and experienced organisations in the social innovation field. They aim to nurture and support social innovators and organisations to develop innovative projects with diversity and impact through the following innovative programmes. Individuals and organisations with innovative ideas in addressing poverty issues and wish to seek financial support to implement innovative projects may learn more by clicking the below logos and approach the intermediaries running innovative programmes directly and submit applications under their funding schemes.Wish to compare the four innovative programmes in one go? Do not miss the Programme at a glance, a clear comparison table highlighting the eligibility, amount of grant and uniquite features of the prorgammes. Innovator FarmImpact IncubatorImpact Innovation LabGrant for Good