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Speech by FS at Elevator Pitch Competition 2023 (English only) (with photos/video)
     Following is the speech by the Financial Secretary, Mr Paul Chan, at the Elevator Pitch Competition 2023 today (April 28):
Sunny (Chairman of Hong Kong Science and Technology Parks Corporation, Dr Sunny Chai), Albert (Chief Executive Officer of the Hong Kong Science and Technology Parks Corporation, Mr Albert Wong), investors, start-ups from around the world, distinguished guests, ladies and gentlemen,
     Good evening. What a thrilling day this has been.
     And to think that a good part of it was spent riding the elevator, from ground floor to the 100th floor and back down again. And being judged on how well your elevator ride went: how short and sweet, innovative and inspiring each of today's 50 fabulous semi-finalists made their 60 seconds count for our judging panel. 
     My congratulations to our fintech and proptech winners. In just a moment, we'll move on to the final award presentation.
     Let me say that the award out of this competition may well be beyond the prize offered. Our Science Park's Corporate Venture Fund is ready to consider each pitcher's case and could offer up to US$5 million as investment. This is a fund supported by the HKSAR Government to boost our support for high-growth technology start-ups - for innovative local and international entrepreneurs like yourselves.
     Allow me to talk more about our favourable environment for start-ups. In Hong Kong, we have a strong start-up ecosystem. In 2022, we had around 4 000 start-ups, up by 52 per cent compared to 2018. 
     The Government offers various kinds of seed funding schemes to help start-ups to grow. And targeted assistance as well, from such initiatives as Science Park's and Cyberport's mentorship support, investor matching, and incubation and acceleration programmes. All for start-ups and technology companies. 
     Then we have a vibrant ecosystem of private equity and venture capital. They are here to help fund the growth of your business at different stages.
     Funding aside, Hong Kong is the natural gateway to the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), which is a huge market with 86 million consumers with per capita GDP at US$22,000. Successful products and services that are successful in Hong Kong have an edge in the GBA. They are also bound to capture the tremendous opportunities in the whole of the nation and the world.  
     Some of our tech start-ups nurtured in Science Park and Cyberport, for instance, are already marching into the markets in ASEAN and the Middle East.
     And as your ambition grows, you may make use of our premier IPO platform to further scale up your business and go global.
     Think of our lifestyle too: the rich and diverse arts and entertainment; mega international sports and recreation events; beautiful country parks, fine dining, happy pubbing, dim sum and much more.  
     So, I am very optimistic about the future that Hong Kong holds for you. A city that offers funding, markets, global reach, a premier listing platform and an ideal life. 
     Wherever you are from, join us in Hong Kong, where the future is being built.   
     Ladies and gentlemen, my thanks to Science Park for organising this seminal annual event. I am grateful, too, to the sponsors HSBC, MTR Lab and Cathay Pacific, the distinguished judging panel and 50 of the most techno-talented, super-selling, fast-talking entrepreneurs in the world. 
     And now, ladies and gentlemen, on to the final award presentation.
     Thank you.
Ends/Friday, April 28, 2023
Issued at HKT 20:45
Today's Press Releases  


The Financial Secretary, Mr Paul Chan, speaks at the Elevator Pitch Competition 2023 today (April 28).
The Financial Secretary, Mr Paul Chan, attended the Elevator Pitch Competition 2023 today (April 28). Photo shows Mr Chan (centre); the Chairman of the Hong Kong Science and Technology Parks Corporation (HKSTP), Dr Sunny Chai (fourth right); the Chief Executive Officer of the HKSTP, Mr Albert Wong (third left), and other guests and participants at the competition.

Audio / Video

FS attends Elevator Pitch Competition 2023