Mizuho Financial Group, Inc. (President & CEO: Tatsufumi Sakai), Cyberport (Chief Executive Officer: Peter Yan), and Hong Kong Science & Technology Parks Corporation (HKSTP; Chief Executive Officer: Albert Wong) have concluded a memorandum of understanding (MOU) for business cooperation for the purpose of supporting the growth of startup businesses.
Cyberport is a wholly owned company of the Hong Kong government and an innovative digital technology community housing over 1,100 startups and tech companies. It has established the largest FinTech community in Hong Kong and aims to become a digital tech hub. It fosters five digital technology clusters crucial to creating key economic drivers, including FinTech, AI/big data, esports/digital entertainment, smart living, and blockchain solutions.
Comprising Science Park, InnoCentre, and Industrial Estates, HKSTP is a statutory body set up by the Government of the Hong Kong Special Administrative Region. HKSTP is dedicated to building a vibrant innovation and technology ecosystem. It focuses on supporting R&D and commercialization of technology seeds in five key technology clusters— Electronics, Information and Communications Technology, Material and Precision Engineering, Biomedical Technology, and Green Technology.
Recently, the Hong Kong government has been increasing its support to startups and its efforts to develop an innovation-friendly environment. Hong Kong is fast becoming an innovation hub, leveraging its highly open financial market.
Based on the MOU, we will collaborate with Cyberport and HKSTP to support Japanese and Hong Kong startups in entering the two markets, participating in business demonstration events, and pursuing R&D in the abovementioned fields. We will also facilitate investment in these startups. In doing so, we will contribute to the economic development of Japan and of the Greater Bay Area encompassing Hong Kong, Shenzhen, and Guangzhou.