Brand-new “Cyberport Accelerator Support Programme” offers startups maximum HK$300,000 funding support
Hong Kong, 2 May 2014 – Hong Kong Cyberport Management Company Limited (Cyberport) and Microsoft Ventures today announced a strategic partnership to boost ICT startups’ fund-raising capabilities and readiness for international business expansion. Cyberport also introduced the brand-new “Cyberport Accelerator Support Programme”. The Programme will provide funding support to Cyberport existing and graduated incubatees, and Cyberport Creative Micro Fund (CMMF) grantees, to join qualified worldwide accelerators, including the flagship Microsoft Ventures Accelerator programme.
Each recipient will be entitled to financial assistance of up to a maximum of HK$300,000 to cover travel, student internships and other professional service expenses. This new initiative is a response to the Cyberport Three Year Strategic Plan (2014/15 – 2016/17) released early this year, with an aim to establish a one-stop service platform for local ICT startups at different stages of their business life cycles.
The partnership was announced today at a ceremony held at the HKTDC Entrepreneur Day. The partnership echoes Microsoft’s new and multi-year initiative – SparkHK, which empowers Hong Kong’s growth and competitiveness through innovation. With a prime focus on startups, Microsoft Ventures runs comprehensive programmes to support and accelerate the growth of startups at different stages of development. As part of the accelerator program, qualified startups receive access to BizSpark and BizSpark Plus, which provide startups with access to development tools, resources and cloud services.
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| HKTDC Entrepreneur Day
(From left to right): Herman Lam, Chief Executive Officer of Hong Kong Cyberport Management Co Ltd; Alfred Wong, Board Member of Hong Kong Cyberport Management Co Ltd; Joey Lam, JP, Deputy Government Chief Information Officer (Policy & Communication), OGCIO, HKSAR Government; Rahul Sood, General Manager and Partner of Microsoft Ventures; and Horace Chow, General Manager of Microsoft Hong Kong celebrated the official partnership announcement between Cyberport and Microsoft Ventures which aims to help advance Hong Kong’s ICT start-ups by helping them raise funds and expand their businesses globally. |
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“Solidifying the shared vision that we have with Microsoft Ventures, Cyberport is offering a holistic accelerator support programme to help prepare startups for international markets and investors. We are proud to be able to enhance the city’s economic development and diversification through fueling an ICT ecosystem that accelerates innovation, creativity and an entrepreneurial spirit among local startups,” said Herman Lam, CEO of Cyberport.
“Microsoft is committed to helping Hong Kong become more competitive through innovation. Since 2009, we have invested to nurture entrepreneurship through Microsoft BizSpark. 250 local startups have benefitted so far,” said Horace Chow, General Manager of Microsoft Hong Kong. “With Microsoft Ventures, we aim to deepen our investment and create additional value for more startups in Hong Kong.”
“What we are witnessing today in Greater China Region is unprecedented, on a global level China is, far and away, one of the fastest accelerating startup ecosystems in the world.” said Rahul Sood, General Manager & Partner, Microsoft Ventures. “Microsoft Ventures will continue to invest in the startup ecosystem here and we are pleased to join forces with Cyberport to help local startups grow and expand into international markets.”
AllMobilize is a mobile-optimized web design company which has expanded its workforce from just two founders to over 60 employees within two years. The company was admitted to the Cyberport Incubation Programme and Microsoft Ventures Accelerator in Beijing in January 2013.
“As a beneficiary, we are very excited about the business opportunities that this collaboration can bring to startups like us. Looking back, we would never have been able to reach out to international investors and succeed in the market if we did not receive holistic entrepreneurship training, great market exposure and an invaluable alumni network. It has also paved the way for our rapid expansion in Mainland China,” said Miranda Gao, Founder of AllMobilize.
Microsoft Ventures will help Cyberport startups expand their access to the venture capital ecosystem, and provide technical training, business mentorship, joint marketing promotion, and technical resources to qualifying local ICT startups and entrepreneurs through the Microsoft Ventures Accelerator in Beijing and Microsoft BizSpark programmes.
The “Cyberport x Microsoft – Emerging Technology and Fundraising from Global Perspective cum Pitching” session was also held today in which six ICT startups including Binbit HK Ltd, BUTLUR Limited, FansWave Limited, Live it China Ltd, talkpush, and WTM Co Ltd were given an opportunity to deliver a pitch about their projects to respectable industry panelists including Cyberport, Microsoft Ventures and angel investor Matrix Partners.
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About Cyberport
Cyberport is a creative digital community with a cluster of technology and digital content tenants. It is managed by Hong Kong Cyberport Management Company Limited which is wholly owned by the Hong Kong SAR Government. With a vision to establish itself as a leading information and communications technology (ICT) hub in the Asia-Pacific region, Cyberport is committed to facilitating the local economy by nurturing ICT industry startups and entrepreneurs, driving collaboration to pool resources and create business opportunities, and accelerating ICT adoption through strategic initiatives and partnerships. Equipped with an array of state-of-the-art ICT facilities and a cutting-edge broadband network, the Cyberport community is home to four grade-A intelligent office buildings, a five-star design hotel, and a retail entertainment complex.
For more information, please visit www.cyberport.hk
About Microsoft Ventures
Microsoft Ventures is a global initiative to help entrepreneurs build great companies. We work with startups at every stage of maturity to provide the tools, resources, and expertise they need to succeed. The initiative is broad-based, and includes a community program, accelerators, and a seed fund. Our approach helps startups scale their business, bring innovative services to market and reach new customers.
For information on Microsoft Ventures Accelerator Beijing, visit https://www.microsoftventures.com/accelerators/beijing
